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.
- A New Stress Test Announced for Insured Mortgages (RATESDOTCA)
- OSFI moves ahead with tighter uninsured mortgage stress test (BNN Bloomberg)
- Canadian consumer prices climb at fastest pace in a decade (BNN Bloomberg)
- Canadian Inflation: Just Wait Until The Economy Reopens! (Scotiabank)
- You can see from their recent tone shift that bank economists are getting nervous—nervous that their inflation forecasts are too conservative.
- Bank of Canada flags debt risks as some Canadians overpay to get into hot housing market (The Globe & Mail – Subscription)
- Rise in inflation no ‘smoking gun’ for consequences of government spending or Bank of Canada policy (The Globe & Mail – Subscription)
- No one in Canada has any idea where inflation will be six months from now, CIBC economist Benjamin Tal told M3 Group on a webinar today.
- The neutral rate: A less sacred view (CIBC)
- “…the streak of each business cycle of the past thirty years having a lower terminal rate than the previous one will likely be broken.”—CIBC’s Royce Mendes
- RE/MAX on the Canadian recreational market’s prospects (Mortgage Broker News)
- Buying is only half the puzzle, the mortgage comes next (The Globe & Mail – Subscription)
- Home prices in small cities outside Toronto have skyrocketed by up to 30% from year ago (Financial Post – Subscription)
- Hamilton, Ont. now tops Los Angeles among North America’s least affordable cities for housing (Financial Post – Subscription)
- Our scorching housing market poses an existential threat to millions of young Canadians (National Observer)
- The bill that could spell trouble for private lending (Mortgage Broker News)