Time for your cheat sheet on this week’s top stories.
Canadian Real Estate
Canada’s Real Estate Bubble Is Batsh!t Crazy Compared To Other G7s
Canadian real estate prices are moving like nothing else in the developed world. New data from the US Federal Reserve shows Canadian home prices have risen much faster than any other G7 country. Despite recent growth being attributed to population, this issue pre-dates the recently adopted narrative. Since 2005, Canadian home prices have shown more than double the growth of any other G7 country.
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Canadian Real Estate Markets Improved, But Prices Are Still Falling: BMO
Canadian real estate sales rose but not enough to stop prices from falling. Home sales showed monthly growth of 8.7% in December, while new listings fell. Despite the mild tightening, prices continue to fall—dropping another 0.8% in December. It was the fourth month that home prices fell, with at least one bank forecasting prices will continue to fall further this year—even with improved sales.
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Bank of Canada To Hold Rates But Push Back On Cuts Next Week: RBC
The Bank of Canada (BoC) is unlikely to change rates next week, but that doesn’t mean it won’t be eventful. RBC, Canada’s biggest bank, is watching for any clues in the announcement. This time last year, the BoC was overly enthusiastic about the progress they made on inflation. Ironically, this enthusiasm sent consumers on a shopping spree that resulted in even further rate hikes. Ideally, they don’t repeat the same mistake.
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Canadian Mortgage Rates May Resume Climb As Bond Yields Surge
Canadian bond yields have been falling, helping to provide cheap mortgage capital. The Government of Canada (GoC) 5-year bond yield peaked in October, falling nearly a point by year end. This rate directly influences 5-year fixed
The post This Week’s Top Stories: Canadian Real Estate Prices Absurd Compared To G7, Forecast To Fall first appeared on Insie Mesenza.