When deciding to leave interest rates unchanged at its Sept. 6 monetary policy meeting this month, the Bank of Canada determined the past hikes are working to slow the economy.
In its economic and housing outlook released today, Oxford Economics is forecasting a mild recession by the end of the year will lead to an additional 10% decline in average house prices by early next year.
Nearly half of non-homeowners in Canada think they'll never be able to purchase a home, according to new survey results from Mortgage Professionals Canada (MPC).
more Canadians are now turning to co-ownership as a means to combat housing in-affordability.
Early-stage delinquencies on both mortgage and non-mortgage debt continued to rise in the second quarter, a sign that high interest rates are increasingly weighing on Canadian borrowers.
Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest rates.
It's no secret that Canada's banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that point during a speech today.
Despite Canada's economy outperforming expectations over the last few quarters, signs are starting to suggest a slowdown is on the horizon, according to a report from Desjardins.
Despite a sharp slowdown in mortgage originations this year, TD reported continued strong volume growth of 4% in the second quarter.
Over the next few days, the new federal cabinet will gather in P.E.I. for their summer retreat.
