The decision of the Bank of Canada to hold interest rates at 1% has left economists, lenders and homeowners guessing as to what will happen next. Governor Stephen Poloz noted that inflation was slightly higher than expected, slack remains in the labour market, and the housing market is moderating as forecast. However, he gave little […]

The federal Liberals are having second thoughts about a 2015 campaign promise out of concern that expanding the popular Home Buyers’ Plan would throw fuel on overheated housing markets. An internal document suggests high housing prices are a key reason the Liberals don’t appear to be in a hurry to fulfil an election pledge that […]

The highly anticipated November Labour Force Survey, released this morning by Stats Canada, surpassed all forecasts breaking multi-year records. Employers added a whopping 79,500 jobs last month, bringing the gains over the past 12 months to nearly 400,000. November’s data posted the most robust job market since the 2008-09 recession as the jobless rate plunged […]

The Canadian economy’s most significant vulnerabilities remain to be inflamed housing prices and unprecedented household debt levels, according to the latest report from the Bank of Canada. This is despite several signs that financial risks have begun to ease, the Bank’s study noted. “Better economic conditions and several new policy measures support prospects for additional […]

The Bank of Canada has released its latest assessment of the financial system and has once again highlighted risk from mortgages. While the overall tone of the report is positive – “Our financial system continues to be resilient, and is being bolstered by stronger growth and job creation, but we need to continue to watch […]

The once-hot real estate market cooled considerably in 2017, and with Guideline B20 on the horizon, all indications are that it will stay that way. It is expected that first-time homebuyers will bear the brunt of B20 more than anybody else, and according to Sherwood Mortgage Group’s president, that could result in a noticeable decline […]

The share of Canada’s population that is not able to access acceptable housing has remained stable over the past decade. Data from CMHC and Statistics Canada reveals that 1.7 million Canadian households were in core housing need in 2016, amounting to 12.7%, around the same as in 2006. “While the proportion of Canadian households living […]

The era of mortgage rates trending lower is coming to an end and some homeowners will struggle to afford payments. The warning comes in a report from ratings firm DBRS which says that owners will find renewal rates edging higher and will experience a “payment shock” having become used to lower rates when renewing. The biggest wake […]

OSFI has announced steps to reduce risks in the uninsured mortgage space. Siddall pointed out that these measures apply only to the federally-regulated financial institutions. He is concerned about the increasing levels of riskier mortgage activity by non-federally-regulated financial institutions. The measures introduced by the federal government in October of last year to tighten insured […]

The governor of the Bank of Canada said that inflation will continue to be driven by the same fundamental forces even as the global economy evolves. Stephen Poloz told an audience of the CFA Montréal and the Montreal Council on Foreign Relations that inflation has not met targets because of the excess supply in many […]