Sunday, 26 January, 2020

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Author: Daniel Wong


Canadian real estate sales and development soared, and so have mortgage credit needs. New data from Statistics Canada (Stat Can) shows non-bank credit intermediaries (NBCI) have seen explosive growth. Over the past decade, NBCI dealing with mortgages have more than tripled their assets. Mortgages: NBCIs, MFCs, and MICs Today we’re looking at NBCIs, something not well known outside of real Read more…


Canadian real estate prices have resumed their climb, alongside rising inflation. The Teranet – National Bank of Canada House Price Index (TNB HPI) climbed in December. The modest increase is due to weakness in just a few regions. Eastern Canada, including Ontario and Quebec, are seeing prices climb very quickly. Western Canadian real estate prices however, are still falling – Read more…


Canadians are still borrowing a lot, just not for anything other than mortgages. Bank of Canada (BoC) data shows household debt held by institutions reached a new all-time high in November. All of the monthly increase was due to mortgages however, as consumer credit fell. Canadian Households Have Over $2.2 Trillion In Mortgage Debt Canadian household debt reached a new Read more…


Vancouver’s population growth is still booming, but the rental vacancy rate is climbing. Canada Mortgage and Housing Corporation (CMHC) data shows primary rentals saw vacancies increase in 2019. The rate of vacancy is now at the highest level since 2013, but it has a long way to go to clear that number. Vancouver Rental Vacancies Rise To Highest Level Since Read more…


Toronto’s population growth is booming, but so are rental vacancies. Canada Mortgage and Housing Corporation (CMHC) data shows primary rental vacancies climbed in 2019. The rate is now at the highest level since 2015, as vacancies climb from decade lows just a couple years ago. Toronto’s Vacancy Rate Rises To Highest Level Since 2015 Toronto’s primary rental market is seeing Read more…


Canada’s recent real estate price boom is creating a lot of incentive for development. Canada Mortgage and Housing Corporation (CMHC) data show housing under construction jumped in Q4 2019. The number of homes currently being built across Canada is now at the highest level since… uh, ever. Canada Has Never Build This Much Housing At The Same Time Before Canada Read more…


Canadian households are back to binge borrowing, and it is sending debt soaring. Bank of Canada (BoC) data shows mortgage debt at institutional lenders reached a new high in November. Not at all surprising, but the acceleration of annual growth is – which is now at the highest level in over a year. Although there’s at least one sign the Read more…


The Canadian real estate industry is seeing growth, just not everywhere last month. Statistics Canada (Stat Can) data shows the finance, insurance, real estate, rental and leasing (FIRE) industry made job gains in December. Canada as a whole squeezed out monthly gains, but two of the biggest markets weren’t so lucky – Ontario and British Columbia. The FIRE Industry Is Read more…


Canadians invested less in building and improving real estate last year. Statistics Canada (Stat Can) data shows the value of residential building permits dropped in November. The declines are being seen across Canada, but Toronto and Vancouver are seeing larger declines. Canadian Residential Building Permit Value Down Over 1% YTD The value of residential building permits across Canada are falling Read more…


Canadian banks are exercising a little more caution when it comes to mortgage debt. Bank of Canada (BoC) data shows allowance for credit losses on mortgages jumped in Q3 2019. The rise is slowing down from the previous quarter, but is still growing much faster than mortgage credit. Allowance for Credit Losses Allowance for credit losses is self explanatory, but Read more…


Canadian homeowners are back to their borrowing binge, and paying more for it. Bank of Canada (BoC) data shows variable mortgage rates climbed into September. New variable rate mortgage borrowers are paying the highest average interest rate in at least half a decade. Variable Rate Mortgages Generally in Canada, a variable rate mortgage sees the interest rate fluctuate, but payments Read more…


Canadian businesses are borrowing less cash, and that could be a sign of things to come. Bank of Canada (BoC) numbers show business credit outstanding hit a new record in November. Despite the record high, growth continues to come in lower and lower. This is often a sign that businesses are seeing fewer growth opportunities. Why Do You Care? Business Read more…


Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canada’s Residential Investment As A Percent Of GDP Is Dropping, But Still ElevatedCanadians are still pumping in a massive amount of cash into real estate investment. Residential investment reached $46.04 billion in Q3 2019, up 3.45% from a year before. The amount, represented 7.68% of GDP, Read more…


Canadians are still real estate fanatics, but the peak was so high, today’s levels seem normal. Statistics Canada (Stat Can) data shows investment in residential structures increased in Q3. When compared as a percentage of GDP however, residential investment is down from the peak. Although it’s still way above usual. Residential Investment Residential investment (a.k.a. residential structures in Canada) is Read more…


More Canadian consumers are carrying a balance on their credit cards these days. Bank of Canada (BoC) numbers show credit card debt hit a new high in September. The increase in credit card debt, is also accompanying a rise in the average, already high, interest rates paid. Canadians Now Owe Over $79 Billion On Credit Cards Canadian credit card debt Read more…