Canadian Mortgage News Daily — May 12, 2021

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Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents).

Reader note: RateSpy’s mortgage news is now at → RATESDOTCA.

• Freaked-out Canadians open to rate hikes to cool hot housing market (BNNBloomberg)

• Tangerine, RBC highest rated banks as overall satisfaction with banks drops: report (Yahoo Finance)
  • Americans have a markedly higher opinion of their primary bank than Canadians. Not so coincidentally, they also enjoy more competition, one bank per 76,000 people, versus one bank per 453,000 in Canada.

• Fed’s Clarida plays down significance of rising inflation (BNN Bloomberg)
  • Central bankers are either right about inflation remaining contained … or they’re very good actors.

• Rosenberg: Inflation likely transitory, ‘gargantuan’ debt will keep a lid on rates (BNN Bloomberg)

• Where do Vancouver’s home price increases rank globally? (Mortgage Broker News)

• Skyrocketing real estate costs pricing Maritime homebuyers out of the market (CTV News)

• As subject-free offers rise in B.C.’s hot real estate market, experts call for cooling off period (Global News)

• Desjardin’s new chief economist is an optimist — about house prices and racial justice (Welland Tribune – Subscription)

• U.S. home prices surge the most on record in buying frenzy (BNN Bloomberg)
  • Fortunately for Canadians buying in the U.S., the loonie has surged 17% versus the greenback in just the past 12 months.

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