Canadians keeping credit cards in their wallets
Filed Under Main Content · Tagged: Business Cards, Business Credit, Canadians, Credit Cards, Decade, Household Credit, Norm, Wallets
"When it comes to household credit growth, the past decade was the exception, not the norm," he said in a report.
Canadians keeping credit cards in their wallets
Shaky days in the housing market
Filed Under Main Content · Tagged: 9 Months, Canada, Canadians, Current Rate, Decade, Globe And Mail, Globe Mail, Houses Sold, Housing Market, Pullbacks, Real Estate Board, Real Estate Board Of Greater Vancouver, Rush, Shaky Days
The Globe and Mail- After several months of small pullbacks, the number of houses sold in some of Canada’s largest markets plummeted in July. There are plenty of factors at work – most notably the rush of buyers earlier in the year who wanted to avoid new taxes in B.C. and Ontario – but the Real Estate Board of Greater Vancouver said July was one of the slowest months for home sales in at least a decade.
As prices moved higher in 2009 and 2010, many Canadians rushed to get their houses on the market. The number of houses listed has peaked just as demand cools. At the end of June, CREA said it would take 6.9 months to sell all the listed homes in Canada given the current rate of sales – the highest level since March 2009. Sellers face a choice. Take their listings down, or settle for less…
Shaky days in the housing market – The Globe and Mail
Are Big Banks jumping the gun?
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Banks, Decade, Fixed Mortgage Rate, Fixed Rate Mortgages, Globe And Mail, Globe Mail, Hasn, Interest Rates, Jumping The Gun, Overnight Rate, Percentage Point, Trend, Year Fixed Mortgage
The Globe and Mail- Interest rates are rising – we all get that – but it looks like the Big Banks are pushing things a bit with mortgages.
After a pair of increases in the past two weeks, the posted Big Bank five-year fixed mortgage rate now stands at 6.25 per cent. Does that seem high? In fact, it’s just half a percentage point below the average level for the past decade.
We’re supposed to be in the early phase of what could be a long cycle of rate increases. The Bank of Canada hasn’t even started raising its overnight rate, which sets the trend for borrowing costs other than fixed-rate mortgages. The overnight rate could very well start rising June 1 (that’s the central bank’s next rate-setting date), but even then it’s not dead certain that rates will move…
Are Big Banks jumping the gun? – The Globe and Mail
Record home prices predicted, Victoria will outperform market
Filed Under Main Content · Tagged: Adrienne, Decade, Decades, Demographic Trends, Economist, Housing Market, Immigration, Price Expectations, Price Inflation, Real Estate, Toronto, Urban Areas, Vancouver, Victoria Market
Times Colonist- Canadian home prices will reach a record high this year, but those expecting the degree of home-price inflation seen in the past decade will be disappointed, a Scotiabank real estate expert said yesterday.
"It’s time to reset price expectations for the Canadian housing market," Adrienne Warren, senior economist with Scotiabank, said at a conference in Toronto. "This was an exceptional decade for pricing."
However, urban areas such as Victoria, which attracts retirees, and Vancouver, a destination for immigration, will "probably be outperforming markets over the next few decades, just based on those demographic trends," Warren said…
Record home prices predicted, Victoria will outperform market
