Canada

This Week’s Top Stories: Canadian Real Estate Sales Were Booming, Before Banks Went Into Emergency Mode

Time for your cheat sheet on this week’s most important stories.

Canadian Real Estate

Canadian Interest Rates Are Falling, But Fear Is Driving Mortgage Rates Higher
Canadian interest rates are dropping, but many mortgage rates are rising. For example, RBC increased its 5-year fixed for conventional mortgages from 2.94% to 3.34% on March 18. TD increased its 5-year variable for conventional mortgage from 2.85% to 2.95% two days ago. Both rates made a hike after the Bank of Canada cut the overnight rate. Divergences like this are often warning signs to the market, that investors see elevated market risk.
Read More

Canada’s Population Explodes At The Fastest Rate Since 1990, Even With Outbreak
Canada’s population forecast is exploding, even with a COVID-19 outbreak? Yes, Stat Can forecasts a population of 37.89 million by the end of Q1 2020, up 1.56% from last year. The 12-month increase is the biggest since Q1 1990 – three decades ago.
Read More

Canadian Real Estate Sales Were Booming Before The Abrupt COVID-19 Halt
Canadian real estate sales were booming right before COVID-19 stopped the whole world. There were 38,161 sales in February, up 26.89%. This is massive growth, and the biggest since March 2010. The big climb is largely due to an abrupt decline in sales volumes last year.
Read More

Here’s How Bad Canadian Restaurants Are Doing Into The COVID-19 Pandemic
Canadian restaurants were already suffering from falling incomes, and high household debt. However, COVID-19 has led to the virtual closure of dine in, even before cities stepped in. Toronto and Vancouver restaurants were slowing in February. Starting in March, there’s a rapid drop off, with traffic falling by nearly half by mid-March.
Read More

Canadian Bank Regulator Halts Stress Test Changes, And Dividend Hikes
Canadian bank regulators are springing into actual, releasing emergency liquidity. Regulators have lowered domestic stability buffers at some banks, freeing up $300 billion for lending. Banks have also been asked to cancel the stress test change, pause share buybacks, and halt dividend hikes. The combination of changes is expected to improve bank liquidity, while ensuring the excess liquidity doesn’t just go back to shareholders.
Read More

Like this post? Like us on Facebook for the next one in your feed.

One Comment

COMMENT POLICY:
We encourage you to have a civil discussion. Note that reads "civil," which means don't act like jerks to each other. Still unclear? No name-calling, racism, or hate speech. Seriously, you're adults – act like it.

Any comments that violates these simple rules, will be removed promptly – along with your full comment history. Oh yeah, you'll also lose further commenting privileges. So if your comments disappear, it's not because the illuminati is screening you because they hate the truth, it's because you violated our simple rules.

  • Fraser 2 months ago

    wake up people…the dollar is crashing, stock markets crashing , silver, gold down big time, oil plummeting…if you do not think that we are on the verge of a housing crash, you are in for a shock and/or delusional…its coming and fast …Canada is not immune to this coming depression and it will be hit very, very hard…debt free is the way to go moving forward….its getting ugly

Comments are closed.