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Canada’s Largest Banks See Mortgage Numbers Print Another Negative

Canadians still aren’t returning to the real estate market, and it’s hitting mortgages. Canadian Bankers Association (CBA) numbers show November had fewer mortgages than the year before. The decline represents the fourth month the market has seen negative prints. Prior to this, the number of mortgages hadn’t dropped on an annual basis in over 29 […]

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Canadian Household Credit Growth Barely Moves, Annual Growth Falls To 1983 Levels

Fresh off an epic credit binge, households in Canada are starting to shy away from more debt. Bank of Canada (BOC) numbers show household debt levels barely moved in February. Not only did debt barely move from the month before, but the annual pace of growth fell to levels not seen since 1983. Canadian Households […]

The post Canadian Household Credit Growth Barely Moves, Annual Growth Falls To 1983 Levels appeared first on Better Dwelling.

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Canadian Mortgage Holders Are Paying Over 27% More Interest Than Principal

The Great Canadian real estate binge may be giving a few owners indigestion. Statistics Canada (StatCan) numbers show interest on mortgage debt reached a new high in Q4 2018. The spike is due to interest payments rising almost ten times faster than the pace of principal payments. Canadian Real Estate Owners Paid Over $9.8 Billion […]

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Canadian Mortgage Growth Prints Slowest January Since 1983

Canadian mortgage growth continues to underwhelm. Bank of Canada (BoC) numbers show outstanding residential mortgage credit hit a new record high in January. The record was dwarfed by the slowest annual pace of growth for a January in over three decades. Canadians Owe Over $1.5 Trillion In Residential Mortgage Credit The outstanding balance of mortgage […]

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This Week’s Top Stories: Delinquencies on Toronto and Vancouver Real Estate Rise, and So Do Mortgage and HELOC Payments

Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Toronto And Vancouver Real Estate See Mortgage Delinquencies Start To Climb Mortgage delinquencies in Toronto and Vancouver are off an of all-time low, especially on larger loans. Delinquencies on mortgages over $400,000 at origination in Toronto CMA increased 28.75% from […]

The post This Week’s Top Stories: Delinquencies on Toronto and Vancouver Real Estate Rise, and So Do Mortgage and HELOC Payments appeared first on Better Dwelling.

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Toronto and Vancouver Real Estate See Mortgage Delinquencies Start To Climb

Toronto and Vancouver real estate is seeing default rates climb from recent lows. Canada Mortgage and Housing Corporation (CMHC) numbers show the ratio of delinquencies is climbing in both cities as of Q3 2018. The increase is most notable for the largest mortgages, a potential sign that reduced liquidity is making an impact. Mortgage Delinquencies […]

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First-Time Toronto Real Estate Buyers To Use “Current Home” To Fund Down Payments

Everyone knows the easiest way for a first-time buyer to buy a home, is to already own a home. The Toronto Real Estate Board (TREB) published results from its annual buyer survey. The survey asks recent and intending buyers about their experience, and gives the industry insights into their behavior. Most of it was not […]

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The Last Time Canadian Household Debt Grew This Slow Was 1983

Canadian households have abruptly cooled their appetite for credit. Bank of Canada (BoC) numbers show households reached a record level of debt in December 2018. Despite reaching new highs, Canadians are less keep on borrowing right now. It’s not just due to the decline in home sales either – consumers are starting to cool their […]

The post The Last Time Canadian Household Debt Grew This Slow Was 1983 appeared first on Better Dwelling.

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Canadian Mortgage Growth Has Only Been Lower One Month In The Past 30 Years

Falling Canadian real estate sales are still taking a bite out of mortgage growth. Bank of Canada (BoC) numbers show mortgage debt reached a record high in December. Despite the record, the annual pace of growth fell to a multi-year low. In fact, it’s only been lower for one month, over the past 30 years. […]

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Canadian Mortgage Growth Keeps Dropping, Prints New 17 Year Low

Slow Canadian real estate sales are still dragging mortgage credit growth lower. Bank of Canada (BoC) numbers show outstanding mortgage credit reached a new record high in November. The high was accompanied by slowing growth, which is showing signs that it could slow further. Canadians Have Over $1.539 Trillion In Mortgage Debt The balance of […]

The post Canadian Mortgage Growth Keeps Dropping, Prints New 17 Year Low appeared first on Better Dwelling.

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