Market participants still expect the first Bank of Canada rate cut in April

2/5/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Despite push-back from the Bank of Canada against aggressive rate-cut predictions, a majority of influential economists and analysts still expect rates to start falling by April. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Inflation Rate, Canada Living, Canada Real Estate, Canadian Banks, Canadian Debt, Canadian Housing Market Slowdown, Interest Rate Forecast, Recession, Variable Rate Mortgages

Another rate hike coming, say Big Six banks

7/7/2023 | Posted in Interest Rates by Jessi Sandhu

All six of Canada’s main commercial lenders now expect the Bank of Canada to raise interest rates next week after the country’s labor market tripled expectations in ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Big Six, Canadian Banks

Canadian banks expected to tighten home equity line of credit access

4/30/2020 | Posted in Canadian HELOC by Jessi Sandhu

Canadian banks may clamp down on HELOCs to reduce the risk of spikes in sour loans, which the banks are already bracing for ... More

Tags: Canadian Banks, Canadian Credit Market, Canadian HELOC, Real Estate Investors

Canadian banks have processed 670,000 mortgage deferrals in first month

4/17/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canadian banks processed more than 670,000 mortgage deferrals or skipped payments in the month since announcing a measure to help consumers weather the economic hit from the ... More

Tags: Big Six, Canadian Banks, Canadian Mortgage Market, Mortgage Consumers, Mortgage Deferrals

Big Six banks slash prime rates by half a point

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

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

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Banks, Household Debt, Variable Rate Mortgages

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

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

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

Tags: Canadian Banks, Household Debt, Stress Test

CEO of Canada's biggest bank calls for caution as Ottawa considers adjusting mortgage stress test

1/8/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More

Tags: Bank of Canada, Big Six, Canadian Banks, Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Housing Affordability, Housing Demand, Stress Test

OSFI increases domestic buffer to 2% amid household debt risk

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

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

Tags: Canadian Banks, Canadian Credit Market, Household Debt, OSFI

Household debt to have knock-on effect upon banks, economy

4/29/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Canadians now owe an average of $1.79 for every dollar of disposable income. ... More

Tags: Bank of Canada, Bankruptcy, Canada, Canadian Banks, Household Debt, Insolvency, Interest Rates, NonMortgage Debt

4 Alarming Records

3/12/2019 | Posted in Canadian Housing Market by Jessi Sandhu

Here are four record-breaking phenomena that suggest we have reached a real turning point in Canadian real estate. ... More

Tags: Canada Real Estate, Canadian Banks, Canadian Home Sales, Canadian Housing Market, Canadian Real Estate Market Outlook, Economic Growth, Home Buyers, Interest Rates, Mortgage Market, Mortgages & Real Estate, Stress Test

Mortgage growth has shrunk to 17-year low

2/5/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Residential mortgage growth rose 3.1 per cent to $1.55 trillion in December from a year earlier, the slowest pace since May 2001, and half the growth rate from two years ago, ... More

Tags: Canada Real Estate, Canadian Banks, Mortgage Market, Mortgage Trends

Big banks tighten grip on mortgage market after rule changes stifle competition

12/14/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

New B-20 rules have created an uneven playing field because stress tests don't apply to people renewing mortgages with their current lender ... More

Tags: Big Six, Canadian Banks, Mortgage Consumers, Mortgage Industry, Mortgage Market, Mortgage Renewals, Mortgage Trends, Mortgages & Real Estate, Stress Test

Canadian banking system outlook revised to stable from negative by Moody's

9/6/2018 | Posted in Canadian Economy and Housing Market by Jessi Sandhu

Moody's revises its outlook for the Canadian banking system to stable from negative, as the ratings company now sees the Canadian government less likely to ... More

Tags: Canadian Banks, Canadian Housing Market, Economic Growth, House Prices

Canadian household debt compromising banking system

3/12/2018 | Posted in Financial Health by Jessi Sandhu

Canadians' collective household debt has climbed to $1.8 trillion as Bank of International Settlements sounds an early warning that the country's banking system is at risk ... More

Tags: Canadian Banks, Household Debt

Amid fraud allegations, S&P lowers Canadian banks' risk metric

2/28/2018 | Posted in Financial Health by Jessi Sandhu

Evidence of mortgage fraud amid surging home prices and household debt has prompted S&P Global Ratings to lower a key risk metric for Canadian banks. ... More

Tags: Big Six, Canadian Banks