Front Loading: Canada’s Mortgage Rates Hit Housing Market amid Monster Rate Hikes by Steve Saretsky • Jul 18, 2022 • 91 Comments Over 50% of mortgage originations have been variable rate this year. Other mortgages are “fixed rate” typically for 2 to 5 years, after which they adjust.
No One Knows How the Coronavirus Will Impact Canadian Real Estate, But Here Are My Thoughts by Steve Saretsky • Mar 13, 2020 • 100 Comments How will Canadians service $1.56 trillion in mortgage debt plus other debts such as credit cards? What about tenants who can’t pay their rent?
Consequences of “Leaving Interest Rates Very Low for a Long Time”: Bank of Canada Governor Poloz by Steve Saretsky • Feb 25, 2019 • 40 Comments A litany of problems, from too much debt to deflating housing bubbles in Vancouver and Toronto.
Canada’s Majestic Housing Bubble Deflates, Media Hype U-Turns by Steve Saretsky • Jan 21, 2019 • 22 Comments Average home price fell for first time since 2008, largest decline in the data going back to 2001.
Vancouver Condo Bubble Takes New Hit: Murky Condo Flippers Targeted in Pre-Sale Tax Hunt by Steve Saretsky • Jul 30, 2018 • 43 Comments The changes pose real threats to the highly speculative pre-sale condo market.
Spending on Housing Dropped 12% in Canada in June by Steve Saretsky • Jul 25, 2018 • 27 Comments The national slowdown was particularly unkind to the province of BC.
Mind the “Directional Shift” in the Housing Bubble in BC, Canada by Steve Saretsky • Jun 22, 2018 • 54 Comments It’s not subtle: Home sales plunge, inventory jumps, prices begin to react.
Canada Home Prices Fall from Year Ago for First Time since 2009 by Steve Saretsky • Apr 18, 2018 • 26 Comments The magnificent house price bubble wheezes.
Rate Squeeze in Vancouver & Toronto Housing Bubbles by Steve Saretsky • Jan 22, 2018 • 48 Comments Variable-rate mortgages, the HELOC phenomenon, and new stress tests meet higher rates.
Canadian Homeowners Take Out HELOCs to Fund Subprime Buyers Unable to get a Mortgage by Steve Saretsky • Dec 13, 2017 • 48 Comments The Canadian Housing & Debt Bubble ascends to the next level of risk.