Canadian Real Estate News

Canada’s Big Six Banks Set Aside Over $10 Billion For Bad Loans, Up Over 300%

<![CDATA[Canada’s Big Six banks are preparing for a lot more bad loans. Canadian banks reported Q2 earnings this week. A common theme in all reports was a sharp increase in provisions for credit losses (PCLs). These have been rising over the past year, as delinquencies begin normalizing from lows. This trend has accelerated quickly however, […] The post <a rel="nofollow" href="https://betterdwelling.com/canadas-big-six-banks-set-aside-over-10-billion-for-bad-loans-up-over-300/">Canada’s Big Six Banks Set Aside Over $10 Billion For Bad Loans, Up Over 300%</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

CMHC’s Canadian Real Estate Price Forecast Shows Big Drops In Ontario and BC

<![CDATA[Canada’s national housing gave the Canadian real estate industry a further peek at what they expect for prices. The Canada Mortgage and Housing Corporation (CMHC) explained last week that price declines are expected across the country. Now they’ve provided a breakdown of the forecast, and how it impacts individual provinces. Prices are expected to start […] The post <a rel="nofollow" href="https://betterdwelling.com/cmhcs-canadian-real-estate-price-forecast-shows-big-drops-in-ontario-and-bc/">CMHC’s Canadian Real Estate Price Forecast Shows Big Drops In Ontario and BC</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

Only 5% of Greater Toronto’s New Homes Sold Last Month

<![CDATA[Greater Toronto new home sales finally got the pandemic message last month. Altus Group data shows sales made a dramatic drop in April. The segment had bucked the slowing market in March, but is now finally responding. The result has been a mixed movement for prices. New Single-Family Prices Fall, While Condo Apartments Rise The […] The post <a rel="nofollow" href="https://betterdwelling.com/city/toronto/only-5-of-greater-torontos-new-homes-sold-last-month/">Only 5% of Greater Toronto’s New Homes Sold Last Month</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

TransUnion Warns A “Severe” Scenario Likely In Canada, Mortgage Defaults To Jump

<![CDATA[One of the “Big Three” credit agencies warned they expect a big jump for insolvencies. TransUnion gave the industry a look at recent macroeconomic and consumer credit activity this week. During the presentation, the firm’s analysts highlighted various deteriorating macro events. They warned lenders to expect a rising wave of defaults, as a “severe” risk […] The post <a rel="nofollow" href="https://betterdwelling.com/transunion-warns-a-severe-scenario-likely-in-canada-mortgage-defaults-to-jump/">TransUnion Warns A “Severe” Scenario Likely In Canada, Mortgage Defaults To Jump</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

CIBC: Challenges To Canadian Real Estate Will Be “Coming In 12-18 Months”

<![CDATA[One of Canada’s largest banks sees turbulence for real estate markets, but doesn’t expect it this season. A CIBC research note released earlier this month sees real estate markets temporarily frozen. Once the economy begins movement again, and mortgage deferrals expire, they see things starting to change. Once this happens, the bank is forecasting lower […] The post <a rel="nofollow" href="https://betterdwelling.com/cibc-challenges-to-canadian-real-estate-will-be-coming-in-12-18-months/">CIBC: Challenges To Canadian Real Estate Will Be “Coming In 12-18 Months”</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

Most of Canada’s Insured Mortgages on Deferrals Projected To Be Underwater Soon

<![CDATA[Canadian homeowners on insured mortgage deferrals are starting to feel the heat. The Canada Mortgage and Housing Corporation (CMHC) updated the federal government on the state of housing last week. During this update, they warned first-time homebuyers to be extra careful purchasing. To highlight this, they ran through a scenario on how a small downturn […] The post <a rel="nofollow" href="https://betterdwelling.com/most-of-canadas-insured-mortgages-on-deferrals-projected-to-be-underwater-soon/">Most of Canada’s Insured Mortgages on Deferrals Projected To Be Underwater Soon</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

This Week’s Top Stories: Canadian Mortgage Deferrals Soar, As Government Warns Young Homebuyers

<![CDATA[Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate CMHC Warns Canadians: “Support For Homeownership Cannot Be Unlimited” The CMHC, Canada’s national housing agency, had a warning for young homebuyers: Be realistic about your debt. As a cautionary tale, the agency’s CEO walked the federal government through a scenario […] The post <a rel="nofollow" href="https://betterdwelling.com/this-weeks-top-stories-canadian-mortgage-deferrals-soar-as-government-warns-young-homebuyers/">This Week’s Top Stories: Canadian Mortgage Deferrals Soar, As Government Warns Young Homebuyers</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

National Bank of Canada: Real Estate Prices Rise, But Could Change With The Recession

<![CDATA[Canadian real estate prices climbed according to another index, but it had a limited impact on sentiment. The Teranet – National Bank of Canada House Price Index (TNBC HPI) made a substantial climb in April. Despite the big increase for prices, the Big Six bank warned a rapidly changing macro environment could change the direction […] The post <a rel="nofollow" href="https://betterdwelling.com/national-bank-of-canada-real-estate-prices-rise-but-could-change-with-the-recession/">National Bank of Canada: Real Estate Prices Rise, But Could Change With The Recession</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

One In Five of Canada’s Insured Mortgage Deferrals Are In Ontario

<![CDATA[Canadians are suddenly short on cash for their jumbo sized mortgages. Canada Mortgage and Housing Corporation (CMHC), the country’s national housing agency, estimates over a tenth of insured mortgages are now on payment deferrals. The agency also added they expect the ratio of deferrals to nearly double over the next few months. Quebec Has The […] The post <a rel="nofollow" href="https://betterdwelling.com/one-in-five-of-canadas-insured-mortgage-deferrals-are-in-ontario/">One In Five of Canada’s Insured Mortgage Deferrals Are In Ontario</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

Canadian Real Estate Faces A New Problem: Deflation

<![CDATA[Canadian households are facing a problem they didn’t think was possible a few weeks ago – falling consumer prices. Statistics Canada (Stat Can) data shows the consumer price index (CPI) fell in April. The deflationary move is the first seen in Canada, in over a decade. A month isn’t a trend, but if it continues, […] The post <a rel="nofollow" href="https://betterdwelling.com/canadian-real-estate-faces-a-new-problem-deflation/">Canadian Real Estate Faces A New Problem: Deflation</a> appeared first on <a rel="nofollow" href="https://betterdwelling.com">Better Dwelling</a>. ]]>

Real Estate News - Canada