Home Prices Post Monthly Gain as Supply Tightens

General Beata Wojtalik 16 Sep

Home Prices Post Monthly Gain as Supply Tightens National home prices posted their first monthly increase since February as housing inventory tightened further to “extremely low” levels, the Canadian Real Estate Association reported. The average selling price in August was $663,500, up 13.3% year-over-year and a 0.5% increase from July, ending a four-month streak of […]

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Home Prices Still Rising As Falling Sales Reflect Insufficient Supply

General Beata Wojtalik 15 Sep

Home Prices Still Rising As Falling Sales Reflect Insufficient Supply   Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell a slight 0.5% nationally from July to August 2021–the fifth consecutive monthly decline. Over the same period, the number of newly listed properties edged up 0.8%, and the MLS Home Price Index […]

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August Employment Report Showed Continuing Recovery

General Beata Wojtalik 13 Sep

August Employment Report Showed Continuing Recovery   This morning, Statistics Canada provided us with some much-needed good news on the economic front following last week’s surprisingly dismal Q2 GDP report. Canada’s labour market continued its recovery in August, especially in the hardest-hit food services and accommodation sectors. The August Labour Force Survey (LFS) data reflect […]

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Bank of Canada Responds To Weak Q2 Economy–Holding Policy Steady

General Beata Wojtalik 9 Sep

Bank of Canada Responds To Weak Q2 Economy–Holding Policy Steady   As we await the quarterly economic forecast in next month’s Monetary Policy Report, the Bank of Canada acknowledged that the Q2 GDP report, released last week, caught them off-guard. In today’s policy statement, the Governing Council of the Bank said, “In Canada, GDP contracted […]

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Royal Bank Added $9 Billion in Mortgages to its Portfolio this Quarter

General Beata Wojtalik 27 Aug

Royal Bank Added $9 Billion in Mortgages to its Portfolio this Quarter Royal Bank exceeded expectations for its third-quarter earnings, driven in large part by strong mortgage growth. Canada’s largest bank grew its mortgage portfolio by $37 billion over the past year, with a gain of $9 billion in the last quarter alone. President and […]

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What Does High Inflation Mean for Mortgage Rates?

General Beata Wojtalik 24 Aug

What Does High Inflation Mean for Mortgage Rates? Canada’s inflation rate came in above expectations last week, rising to its highest level in more than a decade. If above-target inflation persists, it could have ramifications for homeowners in the form of shifting rate-hike expectations. Canada’s inflation rate came in burning hot at 3.7% for July, […]

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Mortgage Borrowing Grew at its Fastest Monthly Pace Ever in June

General Beata Wojtalik 20 Aug

Mortgage Borrowing Grew at its Fastest Monthly Pace Ever in June Mortgage debt in Canada soared above $1.7 trillion in June, growing at a monthly pace never before seen, according to Statistics Canada. The new figures show mortgage debt grew 9.2% compared to the same time last year, a pace not seen since 2008, and […]

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Annual Inflation Hits 3.7% in Canada–A New Election Issue

General Beata Wojtalik 18 Aug

Annual Inflation Hits 3.7% in Canada–A New Election Issue This morning’s Stats Canada release showed that the July CPI surged to a 3.7% year-over-year pace, well above the 3.1% pace recorded in June. This is now the fourth consecutive month in which inflation is above the1% to 3% target band of the Bank of Canada. […]

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