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Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents):
- Surprise! Bank of Canada Now Sees Rate Hikes as Early as Next Year (RATESDOTCA)
- The Bank’s forward guidance loses some credibility.
- 5-year Fixed Mortgage Rates Drop … Slightly (RATESDOTCA)
- “Good Grief” Mr Macklem (Agility Forex)
- “…the BoC may be the first G-10 central bank to start the inevitable rate hike cycle.”
- Why it pays to switch your mortgage (Postmedia/CIBC)
- “Loyalty to your bank, it seems, can have a steep price,” says this CIBC-sponsored article.
- Bank of Canada backs tighter mortgage stress test amid hot housing market (Financial Post)
- Did someone expect the BoC not to back OSFI’s proposal?
- CIBC poll shows majority of homeowners have no plans to sell amid a tight housing market and low rate environment (Newsire.ca)
- The majority of homeowners never have plans to sell in a given year.
- Can immigration keep the housing market hot? (Mortgage Broker News)
- B.C. budget steers clear of trying to cool hot housing market in short-term (The Globe & Mail – Subscription)
- Exclusive: Fed will limit any overshoot of inflation target, Powell says (Yahoo Finance)
- You bet your basis points they will. Because the only thing a central banker fears more than being ahead of the curve on inflation is being behind the curve.
- Canadian home prices on fire and policymakers using ‘squirt gun’ (Financial Post)
- With average home values soaring 49% in just 24 months, have regulators decided that the best antidote for high prices is high prices?
- RBC Economics notes “half-hearted” response by 2021 federal budget to “blazing hot housing market” (The Georgia Straight)
- Experts continue to grill the government for not doing enough to kill real estate momo.
- Canadian Real Estate Is Moving From Pent-Up Demand To Pent-Up Supply (Better Dwelling)
- Keeping other factors constant, an increase in price results in an increase in quantity supplied. Thank you, Microeconomic Theory.
- George Fallis: It’s a housing bubble in Toronto, not a supply squeeze (Financial Post)
- These “it’s not a supply problem” guys are a riot. Add 100,000 quality homes to Toronto housing stock overnight. Then see what happens to prices.
- 2021 Budget Won’t Fix Canadian Real Estate Affordability (RE/MAX)
- “Canada still lacks a national housing strategy that would increase supply and help to cool the market in the most effective way…” Preach RE/MAX Preach!
- Petition launched against Bank of Canada’s quantitative easing policy driving “real estate inflation” (The Georgia Straight)
- Finder: Low-rate environment can help Canadians address high debt levels (Mortgage Broker News)
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