Jessi Sandhu - Your Brampton Real Estate Agent
Household Debt News and Articles | My Blog

StatCan: Household debt service ratio sees record decline

9/15/2020 | Posted in Financial Health by Jessi Sandhu

property-value-108.jpg - Real Estate News But more challenging times could be on their way. ... More


Mortgage payment deferrals reach $247bn

8/30/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

mortgages-475.jpg - Real Estate News Canada’s total balance of mortgage payment deferrals stood at over $247 billion as of the end of the second quarter, according to data from TransUnion. ... More


CMHC head pleads with Canadian banks to avoid risky mortgages

8/12/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

mortgages-475.jpg - Real Estate News The head of Canada’s housing authority implored the nation’s lenders to “reconsider” offering mortgages to highly leveraged households, saying excessive ... More


BoC: Household debt shows flat growth, while mortgage swells

7/9/2020 | Posted in Financial Health by Jessi Sandhu

mortgages-475.jpg - Real Estate News Canadian household debt has shown relatively muted increases despite growth in the mortgage segment, according to data from the central bank. ... More


Deferrals, government aid keeping household finances afloat

7/6/2020 | Posted in Financial Health by Jessi Sandhu

senior-couple-calculating--taxes--debt-462.jpg - Real Estate News Data from the Office of the Superintendent of Bankruptcy Canada (OSB) revealed that federal fiscal support and payment deferrals are helping households retain their purchasing ... More


Household debt ratio rises to 176.9%, Statistics Canada says

6/13/2020 | Posted in Financial Health by Jessi Sandhu

marketing-analysys-104.jpg - Real Estate News The ratio of debt to disposable income peaked in 2017 at 178 per cent but it is currently just shy of that level. ... More


Insolvency rate reaches highest year-to-date level since 2010

5/20/2020 | Posted in Financial Health by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News Although COVID-19 has slowed down the rate of insolvency filings nationwide, the year-to-date total is still the highest in a decade, according to the Office of the Superintendent ... More


Mortgages take up largest slice of Canada's household debt

5/18/2020 | Posted in Financial Health by Jessi Sandhu

real-estate-market-growth-125.jpg - Real Estate News Canadian household debt has reached $2.28 trillion in total as of March, with mortgage payments accounting for a significant slice of the growth, according to data from the Bank ... More


Canada braces for higher mortgage defaults

4/21/2020 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

laptop-research-453.jpg - Real Estate News Rising unemployment and high debt is expected to boost mortgage loan delinquencies in Canada, though experts say it won’t play out like the U.S. subprime mortgage crisis of ... More


Millions of Canadians already missing payments due to COVID-19

3/27/2020 | Posted in Financial Health by Jessi Sandhu

debt-payment-463.jpg - Real Estate News The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms. ... More


Big Six banks slash prime rates by half a point

3/17/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

big-6-banks-canada-317.jpg - Real Estate News The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ... More


Bank of Canada slashes policy rate to 0.75 per cent in surprise cut

3/13/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

bank-of-canada-84.jpg - Real Estate News The Bank of Canada cut its trend-setting interest rate by half a percentage point to 0.75 per cent from 1.25 per cent in a surprise move on Friday aimed at softening the economic ... More


Changing the stress test may raise credit risk for banks says Fitch

2/27/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

housing-market-concept-image-262.jpg - Real Estate News The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More


Canadian reverse mortgage debt reaches nearly $4 billion

1/28/2020 | Posted in Financial Health by Jessi Sandhu

debt-payment-463.jpg - Real Estate News Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More


Canadians are cutting back on debt amid fears of recession

1/2/2020 | Posted in Canada Living by Jessi Sandhu

financial-markets-report-272.jpg - Real Estate News Most Canadians held back from increasing their debt burden in 2019 and 1 in 5 say debt repayment is their top financial priority for 2020. ... More


Canadian Household Borrowing Jumps By 31%, StatCan Says

12/16/2019 | Posted in Financial Health by Jessi Sandhu

worried-businessman-346.jpg - Real Estate News Canadians' borrowing habits are back to where they were before policymakers cooled off the housing market. Lower interest rates are convincing some to borrow more. ... More


Canadians' wealth reduced as real estate gains are erased

9/19/2019 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

property-value-108.jpg - Real Estate News The average Canadian household was worth less in 2018 than in the previous year. ... More


Stats Can releases Q2 household debt data

9/14/2019 | Posted in Financial Health by Jessi Sandhu

business-close-up-hand-269.jpg - Real Estate News Household income grew slightly faster than debt in the second quarter as the amount Canadians owe relative to their income edged down for the third quarter in a row. ... More


A Bank of Canada rate cut as early as September

8/20/2019 | Posted in Interest Rates by Jessi Sandhu

financial-markets-report-272.jpg - Real Estate News A slowing economy and growing trade tensions suggest a cut will happen more quickly than currently accounted for, Macquarie economist says. ... More


Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

bank-of-canada-84.jpg - Real Estate News The Bank of Canada is keeping its trend-setting interest rate steady at 1.75 per cent in a decision widely expected by economists. ... More


OSFI increases domestic buffer to 2% amid household debt risk

6/6/2019 | Posted in GTA Real Estate by Jessi Sandhu

business-meeting-notes-105.jpg - Real Estate News Canada’s banks will have to set aside a larger share of their capital to protect against downturns in lending and other potential financial risks. ... More


Interest rate cut now unlikely say economists

5/27/2019 | Posted in Interest Rates by Jessi Sandhu

mortgage-rates---interest-rates-48.jpg - Real Estate News The Bank of Canada will make its May interest rate decision Wednesday but it’s unlikely there will be a change according to a panel of experts. ... More


Household debt at a record high, senior mortgages increase

5/23/2019 | Posted in Financial Health by Jessi Sandhu

home-piggy-bank-251.jpg - Real Estate News Canadian households continued to pile up debt in the fourth quarter of 2018 according to a new report from CMHC. ... More


Delinquency rates hold steady even as credit market grows

5/23/2019 | Posted in Financial Health by Jessi Sandhu

calculator--analysis--reporting-128.jpg - Real Estate News The Canadian credit market has grown but it appears that consumers are generally managing their debt well. ... More


Canadian Bankruptcies Jump At Fastest Pace Since Financial Crisis

5/14/2019 | Posted in Financial Health by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News Higher interest rates and a record-large debt burden are taking their toll on Canadians, with the number of households filing for insolvency hitting an eight-year high in the ... More


CMHC's Siddall Warns Homeownership 'Party' Coming to an End

5/11/2019 | Posted in Canadian Housing Market by Jessi Sandhu

cmhc-news-7.jpg - Real Estate News The head of the Canada Mortgage and Housing Corporation (CMHC) gave a candid assessment of the country’s housing market, saying the “party” of homeownership as a ... More


BoC touts long-term mortgages to open MBS market

5/9/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

mortgage-button-248.jpg - Real Estate News Bank of Canada Governor Stephen Poloz suggested that lenders should encourage mortgage products with longer terms as a means of distributing risk more evenly and insulating the ... More


Latest stats make interest rate hikes highly unlikely in 2019

5/1/2019 | Posted in Interest Rates by Jessi Sandhu

finance-market-growth-127.jpg - Real Estate News The latest reading of Canada’s economy brings both good and bad news for the housing market. ... More


At Your Service

Thinking of buying or selling a property, or have a question regarding the real estate market? Fill out the form below and we'll get back to you promptly.

Security Question: 1 + 2 =