Canada’s Consumer Debt Situation Not As Bad As We Thought
Some positive news out of a recent CIBC report shows that Canadians have significantly slowed down their accumulation of consumer debt over the last year. While total debt rose 1.8% over the last quarter, outpacing the 0.7% increase in income, consumer debt (that is, total debt minus mortgage debt) rose at the same rate as…
Read moreBank of Canada Interest Rate Decision Coming Tomorrow
Tomorrow, the Bank of Canada will make its rate hike decision, though the consensus appears that no change is imminent. A survey of 37 economists predicts that there will not be a rate hike tomorrow and that while it is a slight possibility that there will be a hike in September, it is much likelier…
Read moreThe Southern Ontario Housing Market
Since this blog tends to focus either on national topics or the Toronto real estate market, I thought it’d be a good idea to have a look at how the real estate markets of other cities in Southern Ontario are doing at the moment. The data I will present is taken from the most recent…
Read moreExternal Factors Relevant to Canada’s Rate Hike Decisions
In a recent Huffington Post article, Scott Boyd, a currency analyst at OANDA Corporation, made some interesting points regarding the hottest topic in Canadian economics, the future of interest rate hikes. While I have generally focused on the domestic factors that will determine when the Bank of Canada will begin to increase interest rates, Boyd…
Read moreThe small picture
Looking at the big picture in the housing market it is easy to conclude that the housing boom should be bracing for a crash. It seems that with all that is going on in the world and especially with our closest southern neighbor, that the constant calls for interest rate increases continue to to be muted and…
Read moreIndirect Evidence That Rate Hike is Imminent
Today, the Bank of Canada released the results of a survey it conducted regarding the short-term outlooks of Canadian businesses. Of particular importance to those interested in predicting the future of mortgage rates were the responses to two questions, one regarding job creation and one regarding inflation outlooks. Among Canadian firms surveyed, 57% expected to…
Read moreCMHC Insurance Savings Opportunity
Individuals who have purchased a house recently with less than 25% down are aware of the insurance fee they had to pay to the CMHC. The less one puts down, the larger the insurance fee is. What few people are aware of is the 10% insurance refund offered by the CMHC to owners of energy…
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