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Canada Is Making It Easier For People To Take Out Larger Mortgages

Canadian real estate sales are soaring, and prices are accelerating quickly. Obviously, it’s the perfect time for the government to loosen credit conditions. The Department of Finance (DoF) announced changes to the way insured mortgages will be stress tested. The new changes go live on April 6, 2020, and will lead to a more responsive […]

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Canadian Real Estate Enters A National Seller’s Market, As Sales Jump

Canadian real estate buyers are facing less inventory, and more competition. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) increased in most markets this past January. The rising ratio, used to help understand demand, reached a “seller’s market” last month. Not just in one place either – the whole […]

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Canadian Real Estate Prices Are Climbing At The Fastest Pace In Almost 2 Years

Canadian real estate prices are seeing accelerated growth across the country. Canadian Real Estate Association (CREA) data shows the price of a typical home increased in January. The increase marks the 9th consecutive month of price acceleration for the national index. Prices are now growing at the fastest rate in almost two years. Canadian Real […]

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Canada’s Mortgage Stress Test Just Got Easier

As has been widely anticipated over the past few months, changes have arrived for Canada’s mortgage stress test. The Canadian department of finance has changed the way insured mortgages will be stress tested, and it sounds like OSFI will follow suit with uninsured mortgages as well. Under the current stress test, borrowers had to qualify […]

The post Canada’s Mortgage Stress Test Just Got Easier appeared first on Steve Saretsky.

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Godspeed

The reflation trade is back on, and Canadians are jumping back into their asset of choice, real estate. Canadian home sales bounced 11.5% year-over-year in January, marking the best sales figures for the month in 12 years. Meanwhile, the number of newly listed homes was little changed in January, edging up a slight 0.2% on the […]

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This Week’s Top Stories: Canadian Real Estate Sales Reach Multi-Year Record, As Insolvencies and Population Booms

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Sales See Biggest January Since 2008 Canadian 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 […]

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Canadian Real Estate Sales See Biggest January Since 2008

Canadian real estate sales were on fire last month, and not just in a few regions. Canadian Real Estate Association (CREA) data shows sales across the country jumped in January. The rise in sales was the largest the month has seen in over a decade. That helped to push the sales volumes to the highest […]

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Half of Canada’s Urban Population Growth Was In Just 3 Cities

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 […]

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Negative Rates Can’t Save the Canadian Consumer

A new report from RBC, highlights consumer insolvencies jumped a rather alarming 9.5% in 2019, the largest annual increase since 2008-09 during the great recession. This is a pretty thought provoking development when you consider that insolvencies are rising rather quickly despite record low interest rates and an economy at full employment. Not to mention […]

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Vancouver Consumer Insolvencies Rise Over 10%

Greater Vancouver is following the rest of Canada, with a spike of insolvencies. Office of the Superintendent of Bankruptcy (OSB) data shows households filed a lot more insolvencies in Q4 2019. Overall, Greater Vancouver is showing growth consistent with the province. However, the province is seeing a very rapid rise in the number of distressed […]

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