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Stats Can releases Q2 household debt data

9/14/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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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.

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Canadian Debt, Household Debt, NonMortgage Debt

A Bank of Canada rate cut as early as September

8/20/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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A slowing economy and growing trade tensions suggest a cut will happen more quickly than currently accounted for, Macquarie economist says.

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Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Variable Rate Mortgages

Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada is keeping its trend-setting interest rate steady at 1.75 per cent in a decision widely expected by economists.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, Variable Rate Mortgages

OSFI increases domestic buffer to 2% amid household debt risk

6/6/2019 | Posted in GTA Real Estate by Forest Hill Real Estate Signature
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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.

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Canadian Banks, Canadian Credit Market, Household Debt, OSFI

Bank of Canada maintains overnight rate target at 1.75 per cent

5/29/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada today maintained its target for the overnight rate.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt

Interest rate cut now unlikely say economists

5/27/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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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.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Household debt at a record high, senior mortgages increase

5/23/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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Canadian households continued to pile up debt in the fourth quarter of 2018 according to a new report from CMHC.

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CMHC, Household Debt, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt, Personal Finance

Delinquency rates hold steady even as credit market grows

5/23/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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The Canadian credit market has grown but it appears that consumers are generally managing their debt well.

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Canadian Credit Market, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Delinquency, NonMortgage Debt

Canadian Bankruptcies Jump At Fastest Pace Since Financial Crisis

5/14/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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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

Bankruptcy, Canada, Household Debt, Insolvency, Interest Rates, NonMortgage Debt, Office of the Superintendent of Financial Institutions

CMHC's Siddall Warns Homeownership 'Party' Coming to an End

5/11/2019 | Posted in Canadian Housing Market by Forest Hill Real Estate Signature
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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 ... More

Canadian Housing Market, Canadian Real Estate Market Outlook, First Time Home Buyer Incentive, First Time Home Buyers, Household Debt, Housing Supply, Millenials

BoC touts long-term mortgages to open MBS market

5/9/2019 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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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

Bank of Canada, Canada Mortgage and Housing Corporation, Household Debt, Mortgage Consumers, Mortgage Market, Mortgage Trends, Mortgages & Real Estate, Uninsured Mortgages

Latest stats make interest rate hikes highly unlikely in 2019

5/1/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The latest reading of Canada’s economy brings both good and bad news for the housing market.

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Canada GDP, Economic Growth, Household Debt, Interest Rates, Mortgages & Real Estate, Statistics Canada

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

4/29/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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Canadians now owe an average of $1.79 for every dollar of disposable income.

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

Bank of Canada keeps rates steady, cuts language about future hikes

4/24/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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Bank of Canada keeps rates steady, cuts language about future hikes.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

48% of Canadians on brink of insolvency: Survey

4/22/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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Sign of deteriorating financial stability for many people in the country.

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Canada, Household Debt, NonMortgage Debt, Personal Finance

Bank of Canada's Poloz says stimulative rates needed for temporary soft patch

4/2/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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Poloz's optimism Monday about the future could ease speculation the central bank could lower rates.

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Bank of Canada, Bank of Canada Benchmark Rate, Canada Real Estate, Economic Growth, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Bank of Canada to hold interest rates through 2020: TD Securities

3/15/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada will likely hold off raising interest rates through all of 2020, and could even cut rates later this year, according to TD Securities’ senior rates ... More

Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Rising debts could see rise of second mortgages

3/14/2019 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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Canada’s household debt levels will force around 1 in 5 people with debt to sell assets to stay above water.

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Household Debt, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt, Second Mortgages

Bank of Canada maintains overnight rate target at 1.75%

3/6/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada (BoC) is keeping its key interest rate target on hold at 1.75 per cent on Wednesday, citing concerns about the global economy and Canada’s own recent ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Household Debt, Interest Rates, Mortgages & Real Estate

Mortgage delinquencies on the rise

3/6/2019 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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More Canadians are running into serious issues with their mortgage payments according to a new report.

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Bankruptcy, Household Debt, Mortgage Consumers, Mortgage Delinquency, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt

Why Canadians are suffering a bankruptcy spike

2/25/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada began raising its key overnight lending rate in July 2017 and it’s now at the highest level in a decade. Accustomed to historically low and even ... More

Bank of Canada, Bank of Canada Benchmark Rate, Bankruptcy, Canada, Household Debt, Interest Rates, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt

The reason behind 40% of Ontarian insolvencies

2/20/2019 | Posted in Ontario News by Forest Hill Real Estate Signature
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A recent report reveals desperate measures of indebted consumers in Ontario.

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Household Debt, NonMortgage Debt, Ontario, Personal Finance, Private Lenders

More Canadians say they are at risk of insolvency

1/22/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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An increasing number of Canadians say they are concerned about their debts and are edging towards insolvency.

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Household Debt, Interest Rates, NonMortgage Debt, Personal Finance

Poloz buys borrowers more time but punishes savers

1/16/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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What the Bank of Canada's decision to hold its key rate means for borrowers and savers.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, NonMortgage Debt, Savings

More people are going broke in Canada as interest rates rise

1/9/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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It's a worrying sign for an economy that has relied so heavily on consumer spending and the housing market to drive growth.

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Bankruptcy, Consumer Confidence, Consumer Spending, Finance, Household Debt, Interest Rates, NonMortgage Debt, Personal Finance

High debt levels, rising interest rates among challenges for 2019

12/19/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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Canada’s economy will slow down in 2019 with consumer spending impacted by weaker employment, cooling house prices, high levels of debt, and rising interest rates.

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Canada, Consumer Spending, Economic Growth, Household Debt, Interest Rates

CMHC issues warning

12/17/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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The prospect of interest rate hikes is particularly daunting for residents of Toronto and Vancouver—two cities with debt levels well above the national average.

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Canada Mortgage and Housing Corporation, CMHC, Household Debt, Interest Rates, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt, Toronto, Unsustainable Price Growth, Vancouver, Variable Rate Mortgages

Canadian Household Debt Growth Slows Down

12/7/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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Rising interest rates and new mortgage rules have finally forced an end to years of rapid lending, according to the latest data from Bank of Canada.

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Bank of Canada, Canada Real Estate, Household Debt, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt

Bank of Canada makes key interest rate announcement

12/5/2018 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada is leaving its key interest rate unchanged.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Variable Rate Mortgages

Landing zone for rising interest rates 'sufficiently uncertain': Poloz

11/7/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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Bank of Canada governor Stephen Poloz says the eventual destination range for his key interest rate target — estimated by his team at between 2.5 and ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Household Debt, Interest Rates

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