Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents).
Reader note: RateSpy’s breaking mortgage news is now at → RATESDOTCA.
- Mortgage stress tests are about to get tougher, but no rush to buy (BNN Bloomberg)
- Canada’s ballooning mortgage debts could put a dangerous dent in entrepreneurship (The Globe & Mail – Subscription)
- Risk aversion aside, higher loan-to-values also limit the home equity one can tap to start a business.
- Canada’s booming housing market showed small signs of cooling down in April (Financial Post)
- Posting this link just as a reminder to not read fluff stories (like this) that try hawk courses on making money in real estate.
- Moderation may be on the way in T.O. real estate boom (Toronto Sun)
- Buyers get more sensitive to overpaying near tops. We’re approaching the kind of market where homes with above-average “days on market” really start to stand out, making sellers anxious. Anecdotally, the realtors we speak with suggest that price concessions may happen more frequently this summer—in all but the hottest markets—as sales-to-listing ratios drop.
- Amplify: I want no part of Canada’s broken real estate market (The Globe & Mail – Subscription)
- Renting has rarely looked this good, particularly in markets with depressed rents and lofty home prices (case in point).
- Will inflation ruin our postpandemic economic party? (The Globe & Mail – Subscription)
- Vancouver homes selling below asking prices and assessments suggest market “headed back to Earth” (The Georgia Straight)
- OECD raises outlook for Canadian economic growth this year (BNN Bloomberg)
- Equifax: Data suggests Canadians’ financial recovery is uneven (Wealth Professional)
- Stress Test transcript: How far would you move to buy an affordable home? (The Globe & Mail – Subscription)