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Most Canadians Are Waiting For Rates To Drop To Buy A Home:  BMO Survey

Canadian real estate sales are generally down from historic levels, but households are just waiting for cheap credit. That was just one key insight from BMO’s latest Real Financial Progress Index (RFPI). The survey-based index seeks to capture household economic health, and their perspective on the economy. Not surprising, a good share of the takeaways […]

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Bank of Canada Needs Higher Rates To Stabilize Real Estate & Counter Fed: Scotiabank

One of the country’s largest banks sees Canadian real estate getting out of control, and it can hit the whole economy. Scotiabank warns the Bank of Canada (BoC) needs to hike rates soon, or real estate and inflation will get out of control again. Failing to do so won’t just drive home prices higher, but […]

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This Week’s Top Stories: Canada Leads The World For Mortgage Default Risk, & Yields Surge

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Default Risk Is The Highest In The OECD: IMF  Canada has the highest mortgage default risk of any advanced economy. Mortgage debt surged across the world, as low rates stimulated housing markets in virtually every country. Now that rates are […]

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Canadian Mortgage Default Risk Is The Highest In The OECD: IMF 

The days of Canada having a reputation of conservative bank practices are coming to an end. In a new research note from the IMF, the global financial agency ranked mortgage default risks for households. Canada’s combination of high household debt, frothy home prices, and floating rate loans makes it the riskiest advanced economy in the […]

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Canada Turns To AI To Help With Immigration Application Surge

Canada is selling itself as a global hub for immigration, and people want in—temporarily at least. Temporary resident applications surged higher in Q1 2023, according to the latest data from the IRCC, Canada’s immigration department. Despite fewer permanent resident applications, temporary resident applications have surged so quickly the agency has turned to artificial intelligence to […]

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Canadian Bank Had “Deficient” Anti-Money Laundering Controls: Class Action

Canada is known for three things these days—maple syrup, hockey, and money laundering. Earlier this month, poor attention to the last one may have derailed TD’s $13.5 billion acquisition of US bank First Horizon. Now Robbins LLP, a firm specializing in shareholder rights, has made it the center of a new class action suit. The […]

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Canadian Real Estate Prices May Hit A Roadblock As Bonds Surge

Canada’s falling bond yields provided cheap mortgage credit, helping to boost home prices. Now it’s reversing course, with Government of Canada (GoC) 5 year bond yields rising sharply. The yields directly influence fixed mortgage rates, and over just a few days they’ve nearly reversed the discount given after the US banking crisis. Higher rates will […]

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This Week’s Top Stories: Canadian Banks Are Extending Mortgages, & Delinquencies Climb

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Banks Report 1 In 4 Mortgages Are 35 Years Or Longer  It’s that time of year where the birds are singing, the flowers are blooming, and Canadian banks are reporting they have a significant share of over leveraged clients. Four of […]

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Canadian Banks Report 1 In 4 Mortgages Are 35 Years Or Longer 

Canadian first time home buyers are 36 years old on average. That means they won’t have that starter condo paid off by the time they retire, according to recent bank reports. Four of the Big Five banks reported a large share of their portfolio had amortizations longer than 30 years in Q2 2023. Most of […]

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Canadian Mortgage Delinquencies Begin To Climb, A Lot More Are Brewing

Canadian real estate might be seeing higher prices, but more buyers can’t pay their bills. Equifax data reveals the mortgage delinquency rate climbed in Q1 2023. Households are also increasingly falling behind on payments, a sign that further mortgage delinquencies are in the pipeline. This is occurring as lenders scramble to extend the length of […]

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