Wednesday, 08 April, 2020

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Author: Better Dwelling


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate One In Ten Canadian Restaurants Have Permanently Closed AlreadyCanada’s restaurant industry is one of the hardest hit by COVID-19, and a lot of the damage is permanent. The industry estimates over 800,000 restaurant jobs were lost in March. They also estimate 1 in 10 restaurants have Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate A Panicked Bank Of Canada Just Cut Interest Rates Back To Record LowsThe Bank of Canada (BoC) made another unscheduled rate cut last week. The central bank’s policy rate is now just 0.25%, down 150 bps form a month before. This is the third 50 bps Read more…


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 HigherCanadian 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 Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Reverse Mortgage Debt Tops $4 Billion For The First Time EverCanadian reverse mortgage debt hit a new milestone. OSFI regulated banks held $4 billion in reverse mortgage debt in December, up 13% from last year. This is the first time in history the number has Read more…


Time for you cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Insolvencies Rip Higher, With Ontario Seeing The Fastest GrowthCanadian insolvency filings have been rising very fast. There were 11,337 filings made in January, up 8.7% from a year before. The total amount filed in the 12-months ending in the January hit 141,930, up 9.6% from Read more…


Greater Toronto real estate is off to the strongest year since the 2017 boom. Toronto Regional Real Estate Board (TRREB) data shows much higher prices in February. The increase in prices were largely the result of many more sales, and fast falling inventory. Greater Toronto Real Estate Prices Rise Over 10% The benchmark price of a home in Greater Toronto Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Grows Almost 5x GDP, Economy Hits Record High DependencyCanada’s FIRE industry is growing much faster than the general economy. GDP reached $1.98 trillion in Q4 at annual rates, up 1.6% from the previous quarter. Finance, insurance, and real estate (FIRE) reached $386.73 billion Read more…


Greater Toronto new home sales are back above typical volumes for the month. BILD and Altus Group data shows a big climb in sales this past January. The increase in sales helped to push condo apartment prices to a new all-time high. Meanwhile, single-family homes continue to spiral lower. House Prices Fall, While Condos Make Big Gains The price of Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Toronto And Vancouver New Home Prices Fall, While Montreal SoarsCanadian new home prices are stagnating, according to the New housing price index (NHPI). The national NHPI was flat in January, and is up just 0.19% from one year before. Toronto and Vancouver both saw declines in Read more…


Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Sales See Biggest January Since 2008Canadian real estate sales had a really big January – one of the biggest in years. CREA reported 27,195 unadjusted sales in the month, up 11.5% from a year before. This was the largest 12-month increase for January since Read more…


Canada’s urban population is booming, and the usual suspects landed the most residents. Statistics Canada (Stat Can) population estimates show the country’s largest cities saw the biggest rise in population. The fastest rate of growth was located in smaller cities in Southern Ontario. Toronto, Montreal, and Vancouver See The Most People The country’s biggest cities predictably showed the largest population Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Mortgage Credit Growth Is Rapidly Accelerating, While Consumer Credit SlowsCanadian household debt growth is accelerating once again, but only in one segment. The balance of debt reached $2.27 trillion in December, up 4.2% from last year. Mortgage debt is behind the acceleration, representing $1.63 trillion Read more…


Greater Vancouver real estate may be out of the gutter – for now at least. Real Estate Board of Greater Vancouver (REBGV) data shows sales made a big improvement in January. Real estate sales volumes haven’t returned to typical levels, but a drop in inventory led to a better balance. Prices are now only down slightly from last year. Greater Read more…


Greater Toronto real estate is back to a supply crunch. Toronto Regional Real Estate Board (TRREB) data shows sales jumped to a multi-year high for January. The multi-year high for sales, met with a low for inventory – sending prices soaring. Greater Toronto Real Estate Prices Rise Over 8% The price of a typical home reached a new all-time high Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Mortgages To Highly Indebted Borrowers Rises To The Highest Level Since B-20Canada saw a big drop in lending to highly indebted borrowers after B-20 Guidelines… now it’s reversing. About 17.5% of mortgages in Q4 2019 went to people borrowing over 450% of their income. We’re not Read more…