rbc economics
More rental housing development needed despite recent rise: RBC economist
Even though rental housing construction in Canada has picked up significantly, more is needed to fill the demand backlog, according to a new RBC report.
Canada jobs numbers spike and could delay rate cut: economists
Canada added 90,000 jobs to the national economy in April, according to the latest figures from Statistics Canada, which may cause the Bank of Canada to postpone its first rate cut.
As homeownership costs hit a new high, RBC predicts affordability challenges for years to come
Housing affordability in most major markets continued to worsen in the fourth quarter despite a slight easing of home prices.
Latest in mortgage news: Mortgage rates keep surging higher
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise.
RBC sees mortgage delinquencies rising nearly 30% in the coming year
After spending most of the past year at or near record lows, Canada’s mortgage delinquency rate is expected to return to pre-pandemic levels, potentially rising by nearly a third.
A $200,000+ income is now needed to qualify for an average mortgage in Toronto & Vancouver
High home prices and rising interest rates over the course of 2022 have made it significantly harder for buyers to qualify for the average mortgage, driving RBC’s affordability measure to its worst-ever level.
Canada unlikely to avoid recession: RBC
Rapidly rising interest rates and other economic headwinds mean it’s becoming increasingly likely Canada will enter into a recession.
Affordability Worsened in Q2 as High Home Prices Persisted, Says RBC
Despite historically low interest rates, housing affordability eroded in all major markets across Canada in the second quarter
Housing Market Risks are Easing: RBC
After reaching overheated territory earlier this year, risks to the country’s housing market are now easing as prices and activity moderate. That’s the assessment from