Canada

QT at the Bank of Canada: Assets Down 24% from Peak. Spiraling Losses on Bonds, to Be Paid for by Canadians

by Wolf Richter • Aug 28, 2022 • 140 Comments

The BoC’s QT started much earlier and is way ahead of the Fed’s QT.

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.

“Things Are Not Normal Right Now”: Bank of Canada Hikes by Monster 100 Basis Points, Hits Mortgages. So Might the Fed after US CPI Fiasco

by Wolf Richter • Jul 13, 2022 • 214 Comments

Blame whatever. Just don’t blame money-printing and interest-rate repression.

“Inflation Forecasts Aren’t Worth the Paper They’re Written on”: This Is about the Bank of Canada’s Reaction to Inflation, But it’s the Same in the US and Everywhere

by Wolf Richter • Jun 24, 2022 • 286 Comments

“Why the current tightening cycle is unlike anything we’ve observed in the past.”

The Most Splendid Housing Bubbles in Canada, April Update, as Yields Spike & Bank of Canada Hikes

by Wolf Richter • Apr 21, 2022 • 78 Comments

But wait… Many home buyers had mortgage rates that were guaranteed when rates were much lower.

Front-Running the Fed: Bank of Canada Hikes 50 Basis Points to 1.0%, Starts Official QT. Unofficial QT Already Shrank Assets by 15%

by Wolf Richter • Apr 13, 2022 • 219 Comments

“The economy can handle higher interest rates, and they are needed.” The BoC is way behind the curve, but way ahead of the Fed.

The Most Splendid Housing Bubbles in Canada, March Update, amid Jumping Yields, Bank of Canada’s Rate Hike and QT

by Wolf Richter • Mar 17, 2022 • 98 Comments

Mad scramble to lock in rising mortgage rates? A few markets went raging-mania hog-wild. Others not so much. In two, prices dipped again.

Bank of Canada Front-Runs the Fed, Hikes Interest Rates, Citing Hot Inflation & Even More Inflationary Pressures

by Wolf Richter • Mar 2, 2022 • 104 Comments

Rates “need to rise further.” Balance sheet already shrank by 14%, more shrinkage to come.

The Most Splendid Housing Bubbles in Canada as Bank of Canada Begins QT, Yields Spike

by Wolf Richter • Feb 20, 2022 • 155 Comments

Folks scrambled to lock in mortgage rates in the hottest markets, no matter what the price. But prices declined or were flat in 4 of the 11 largest markets.

Most Splendid Housing Bubbles in Canada: Mad Scramble to Lock in Rising Mortgage Rates as Bank of Canada Is Set to Tighten

by Wolf Richter • Jan 19, 2022 • 149 Comments

QE ended months ago and interest rates are rising. Home prices fell in three markets, but spiked in others.

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