Higher mortgage rates are rapidly cooling American real estate prices. US Census Bureau data shows a very sharp moderation in new housing activity in April. Sales fell to the lowest level since the public health crisis, but inventory is the standout. The market hasn’t seen this much new housing inventory since 2008, falling into a […]
The US central bank is desperately trying to signal things are under control, despite letting inflation slip. The Federal Open Market Committee (FOMC) voted to make the largest rate hike in over 20 years. They won’t stop there, though, they hinted at similar hikes for at least the next two meetings this year. Quantitative tightening […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Mortgage Rates May Climb Up To 7% By Next Year: Desjardins Canadians were hit with the highest inflation in 30 years and mortgages aren’t far behind. A major financial institution sees the 5-year fixed rate mortgage hitting up to 7% […]
Soaring mortgage costs are rapidly cooling the frothy American real estate market. Mortgage applications and pending home sales cratered, show leading indicators released this week. Demand is being throttled by rising mortgage rates, which are now at the highest level since 2009. Home prices have yet to respond to the fall in demand, but experts […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Housing Agency Abruptly Halted Its Public Real Estate Warning System Canada’s national housing agency abruptly ended its warning system for housing. For nearly a decade, the agency warned home buyers when their local market became risky. In the September 2021 […]
Central banks went from the transitory narrative to scrambling to prevent another Great Inflation era, faster than it takes to print $100 billion in Fed Treasuries. In a speech today, US Federal Reserve Chairman Jerome Powell pledged to take extreme measures to curb inflation if needed. The central banker warned this includes the possibility of […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Expected To Drop 24%, Can Crash 40%: Oxford Economics Oxford Economics just warned clients that home prices are in for a correction. The global forecasting firm sees Canadian home prices falling 24% by mid-2024. Previously they expected a […]
The US is raising interest rates for the first time in years, and they plan to make up for lost time. The Federal Open Market Committee (FOMC), which governs the US Federal Reserve, announced a quarter-point hike today. This increases the federal funds rate lower (0.25%) and upper (0.50%) bounds for the first time since […]
Time For your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Bubble Sentiment Is Collapsing Fast: US Federal Reserve Data Canadian real estate bubble sentiment is collapsing but remains frothy. A US Federal Reserve model shows Q3 2021 was the 26th quarter the market showed exuberance. That means the […]
American real estate just spent another quarter in bubble territory, according to its central bank. The US Federal Reserve Exuberance Index shows US real estate was still exuberant in Q3 2021. A quarter before, the market fit the criteria set out by researchers to be considered a bubble. It also happened to be the quarter […]
