Canadian real estate prices surged higher as rates were cut, then plunged as rates climbed. According to a new BMO Capital Markets analysis, markets have retraced a significant portion of their losses despite higher interest rates. In fact, some real estate markets are even hitting new record highs alongside climbing interest rates. Tracking The Canadian […]
Canada’s economy continued to add jobs last month, but it wasn’t good news. Statistics Canada (Stat Can) data show the country added a huge number of new jobs in June 2023. However, the massive gains weren’t enough to prevent the unemployment rate from rising. That’s right—Canada’s record population growth is outpacing its ability to create […]
Canada’s largest real estate market is finally beginning to show some cracks. Equifax data reveals that Toronto mortgage delinquencies climbed again in Q1 2023. It’s inline with national data, which revealed increased mortgage delinquencies across the country. Normalization is expected after hitting record low rates, but it’s surprising to see since lenders are going to […]
Canadian real estate is heating up, after a brief correction. Both prices and sales are up around most of the country—some markets rising by tens of thousands in May. Don’t expect it to last, warns a top economist. Oxford Economics warned clients they expect this to be a temporary boost, and the pullback for existing […]
Canadian real estate prices are back to surging after a correction that barely lasted a year. However, the momentum carrying prices higher isn’t expected to last very long after the latest Bank of Canada (BoC) rate hike. RBC, the country’s largest bank, expects rising interest rates will throttle demand at a time when more supply […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Bank of Canada Warns The Era of Low Rates Is Over The Bank of Canada doesn’t see low interest rates returning anytime soon. Over the past 3 decades, the central bank argues that various factors have applied pressure to lower rates. As […]
Canadian mortgage rates are once again rising, after a temporary decline that boosted home prices. Canada’s 5-year fixed term mortgage rate pulled back during the US banking crisis, helping to boost home prices. Surging government bond yields have rolled back the discount over just a few days. While the fixed term mortgage remains one of […]
Canadian real estate sales are generally down from historic levels, but households are just waiting for cheap credit. That was just one key insight from BMO’s latest Real Financial Progress Index (RFPI). The survey-based index seeks to capture household economic health, and their perspective on the economy. Not surprising, a good share of the takeaways […]
Canada’s Boomers went all in on real estate investment, looking to double down on their windfall. That was the takeaway from a new Canadian Housing Statistics Program (CSHP) study looking at investor demographics in 2020. The Statistics Canada (Stat Can) study found that most resident real estate investors are at least 55 years old. Younger […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Prices Propped Up By Longer Repayment: Bank Regulator Canada’s bank regulator admits that longer repayment schedules are propping up prices. The country’s banks have seen an explosion of longer amortizations, with nearly 1 in 4 mortgages now having a […]
