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

RBC on the state of Canada's household wealth

9/21/2022 | Posted in Home Owners by Jessi Sandhu

property-value-108.jpg - Real Estate News Significant slowdown in housing, bond, and equity markets had a major influence on Q2 figures ... More


Interest rates: TD, Scotia see Bank of Canada heading to 4%

9/14/2022 | Posted in Interest Rates by Jessi Sandhu

business-data-reporting-274.jpg - Real Estate News TD Securities and Scotiabank's top economists think there’s more room to run for the Bank of Canada as it increases interest rates from the pandemic lows. ... More


Canadians are falling deeper into debt: Statistics Canada

9/12/2022 | Posted in Canada Living by Jessi Sandhu

debt-payment-463.jpg - Real Estate News New data from Statistics Canada shows that Canadians are sliding deeper into debt. ... More


Millions of Canadians could default on debts warns TransUnion

9/7/2022 | Posted in Canada Living by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News Overall consumer debt hit a new record high in the second quarter and some people may be overwhelmed by inflation. ... More


How the Bank of Canada's rate hike will impact mortgages, loans and spending

7/13/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

bank-of-canada-governor-481.jpg - Real Estate News The Bank of Canada increased its key interest rate by one percentage point Wednesday in the largest hike the country has seen in 24 years. ... More


Over-leveraged homeowners remain vulnerable to lenders

7/5/2022 | Posted in Canadian HELOC by Jessi Sandhu

senior-couple-calculating--taxes--debt-462.jpg - Real Estate News A much anticipated federal clampdown on a new mortgage product that sinks over-leveraged homeowners deeper into debt has fizzled. ... More


Key household debt-to-income ratio down in Q1 as income rises faster than debt

6/14/2022 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

statistics-canada-80.jpg - Real Estate News Statistics Canada says the amount Canadians owe relative to their income pulled back in the first quarter from the record level set in the fourth quarter of 2021 as incomes grew ... More


Deputy Bank of Canada governor warns key interest rate could rise above previous target of 3 per cent

6/3/2022 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News One day after raising the key interest rate by 50 basis points to 1.5 per cent, the Bank of Canada is warning Canadians that rates could rise above previously targeted levels in ... 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


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