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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.
- Torrent of pent-up spending could force BoC to reconsider neutral rate: CIBC (BNN Bloomberg)
- CIBC: “Canadians mostly saved money because they didn’t have opportunities to spend…”
- Slow population growth means low interest rates are likely here to stay, says JP Morgan (CNBC)
- i.e., more people may rely on real estate gains to get them through retirement.
- Housing market slowed down in April, but average price still rising at record pace (CBC)
- TD: “…We expect [home] sales to trend lower in the second half as rising interest rates and stricter stress test regulations begin to bite.”
- Low interest rates, demand for more space during pandemic has pushed Canadian housing market to extraordinary heights (Financial Post)
- Pretty sad when great papers lead readers to think they’re reading an article, but it’s really a paid attempt to hawk a real estate course. Put an “advertorial” label on this garbage, FP.
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2 Comments
With the strength of the loonie, the BoC isn’t going to raise rates before the fed. CAD/USD has gone from 76c to 83c in just 6 months.
The loonie has soared because commodity prices have soared. The commodity trend is more inflationary than a higher Canadian dollar. My advice is, forget about the loonie and watch inflation expectations. Those are what the BOC has it’s eye on.