Two key guide posts for the Canadian economy are pointing in the same direction.  Both the third quarter GDP numbers and November jobs figures suggest the Bank of Canada is unlikely to make any changes to its trendsetting interest rate in the coming days. Canada’s economy shrank at an annualized rate of 1.1% through July, […]

Like most other financial institutions, BMO said the bulk of its mortgage portfolio will be up for renewal in the coming three years, with the payment increases averaging up to 40%. In its fourth-quarter earnings call, the bank said just 11% of its portfolio—or $16.2 billion worth—will renew in the next 12 months. The majority […]

There was growing talk of the “R-word” (recession) leading up to today’s GDP data release, given the third quarter could have marked the second straight month of negative growth. Instead, markets received another R-word…revision. While Statistics Canada revealed that real gross domestic product (GDP) fell 0.3% quarter-over-quarter in Q3, it also revised up its previous negative reading […]

A key factor in determining whether an individual is likely to become a homeowner is whether or not their parents were property owners, a new study shows. The adult children of homeowners were more than twice as likely to own a home compared to the children of non-owners, according to findings released by Statistics Canada last week. […]

Canada’s banking regulator recently confirmed it will move ahead with new capital requirements for lenders and insurers with negatively amortizing mortgage portfolios. Starting in early 2024, the Office of the Superintendent of Financial Institutions (OSFI) will require lenders to hold more capital for negative amortization mortgage balances with loan-to-values (LTVs) above 65%. What’s a negative […]

The average asking rent in Canada has increased by about $175 over the past six months, and is now nearly 10% higher compared to a year ago. As of October, the average rent price for all unit types reached $2,178, according to data from Rentals.ca‘s latest monthly data. That’s up 1.4% compared to September, but slower […]