Canadian household borrowing rates may have hit a wall. Bank of Canada (BoC) numbers show the effective household borrowing rate stalled in December, for 4 consecutive weeks. The rate, which is the typical interest rate paid by households, is still substantially higher than last year. Effective Borrowing Rates The effective borrowing rate is the typical […]
Canada’s central bank has officially started to help out with mortgage liquidity. The Bank of Canada (BoC) announced their intention to buy Canada Mortgage Bonds at the end of November. The Bank bought nearly quarter of a billion of the bonds less than three weeks later. WTF Is A Canada Mortgage Bond? Canada Mortgage Bonds […]
Time for your weekly cheat sheet on the most important stories of the week. Canadian Real Estate Canadians Withdraw Another $2 Billion In Home Equity Over A Month Canadians are (still) looking to extract equity from their homes at a record pace. The balance of loans secured in June hit $286.81 billion, up $1.966 billion […]
Montreal and Ottawa real estate markets are heating up, while Toronto and Vancouver’s real estate markets continue to cool.
Canadian real estate sales continue fall to new lows. Canadian Real Estate Association (CREA) numbers show only 3 markets with more than 500 sales had year over year growth. Those that did see growth, only saw mild growth compared to previous years. The exception is Toronto, but that isn’t what it appears to be either. […]
The rush to cash in on Vancouver’s premium land values had led to a 45 year high for new construction starts in the city.