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Market Monitor

We keep our finger on the pulse of the mortgage investment market to provide you with the latest news and trends from our team of experts. Read our blog to get the latest on mortgage investing so you can invest with CMI.

21 February 2024

Federal Lands Affordability Initiative – Old Wine in a New Bottle

The federal government is looking at how to better leverage public land to support affordable housing initiatives, according to a recent announcement from Housing, Infrastructure and Communities Minister Sean Fraser. The intent of the initiative is to develop new housing on existing federal land. The minister cited examples of constructing a 60-story residential building on…

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20 February 2024
Quantitative Tightening – When Will the Paint Dry?

Global financial markets faced unprecedented disruption when economies shut down in response to the global COVID-19 pandemic. To support financial markets, the Bank of Canada launched 10 liquidity facilities and asset purchase programs. As markets recovered from the initial shock, the central bank refocused their operations from ensuring that markets functioned to using these tools…

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13 February 2024
Housing Abundance is the Best Rent Control

Despite the presence of various rent control regulations and policies across Canada, doubts persist about their effectiveness in curbing inflation in the housing market.  Rent control measures vary across Canadian provinces. Quebec publishes annual rent guidelines, while British Columbia had a 2% cap in 2023, rising to 3.5% in 2024. In Ontario, rent hikes are…

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13 February 2024
Bank of Canada Stuck on Pause

January employment data came in stronger than expected with a gain of 37,000 jobs and a slight decrease in the unemployment rate to 5.7%. While the headline was positive, the details paint a more complex picture. Most of the job gains were in part-time positions, while full-time employment declined. Private sector employment saw modest growth…

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6 February 2024
Canada’s Foreign Buyer Ban – Prudent Policy or Political Theatre?

The federal government has extended the ban on foreign purchases of homes across most of the country by two years, prolonging the existing ban that was set to expire at the end of this calendar year. This decision comes amidst ongoing controversy surrounding the topic. CMHC and other agencies have historically lacked comprehensive records of…

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5 February 2024
Reading the Tea Leaves on the Fed’s Policy Decision

Much of understanding central bankers is interpreting changes in their policy statements. As expected, the Federal Reserve (the Fed) left its policy rate unchanged and maintained the current pace of quantitative tightening in its January meeting. The Federal Open Market Committee (FOMC), however, made significant changes to the policy statement, suggesting an upward revision in…

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31 January 2024
Improving Affordability by Financing Infrastructure More Efficiently

Canada’s federal government has a long history of involvement in municipal infrastructure assistance. In 1938, the government passed the Municipal Improvements Assistance Act, which facilitated loans from 1938 to 1940, primarily aimed at addressing unemployment by supporting sewage and water improvement projects. It was in this spirit of generating employment and economic growth, as well…

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