Are Chinese investors moving away from the Canadian housing market? This survey says yes (BuzzBuzzNews)

Melanie ConsMortgage Talk Canada

Chinese investment in Canadian property could be about to take a nosedive. That’s because, according to a recent survey, new regulations are making many would-be buyers think twice about getting into the Canadian housing market. Last August, the Chinese government implemented new rules aimed at curbing foreign investment. Now, a new survey by commercial realtor Cushman & Wakefield has found … Read More

Credit ratings agency singles out uninsured mortgages for putting Canadian banks at risk (BuzzBuzzNews)

Melanie ConsMortgage Talk Canada

By: Kerrisa Wilson, BuzzBuzzNews Canada’s overall consumer debt continues to rise, spurred in part by an increase of uninsured mortgages. And this increase in the proportion of uninsured mortgages is leaving Canada’s seven largest banks at risk of higher consumer lending vulnerability, according to a new report by Moody’s Investors Service published today. Until now, low interest rates and unemployment … Read More

Consumer Debt Binge Draws Moody’s Warning for Canadian Banks (Bloomberg)

Melanie ConsMortgage Talk Canada

By Maciej Onoszko, Bloomberg Canada’s mountain of consumer debt is triggering multiple alarms about the threat to the country’s banks. Moody’s Investors Service joined the Bank for International Settlements and S&P Global Ratings which have all warned in the last month that Canada’s banking system, dominated by five giants, is facing a growing threat of souring consumer loans amid rising interest rates. … Read More

Loonie falls after Poloz suggests he’s not ready to take away ‘punch bowl’ (CBC News)

Melanie ConsMortgage Talk Canada

By Rajeshni Naidu-Ghelani, CBC News The dollar came under renewed selling pressure on Tuesday morning, falling half a cent after Bank of Canada Governor Stephen Poloz’s speech suggested the pace of interest rates hikes may become more gradual as the economy expands without triggering inflation. The loonie fell from 77.87 cents US to 77.37 cents after Poloz started giving a speech about the labour market at Queen’s University in … Read More

Vancouver And Abbotsford-Mission Sweep Top Spots in Economic Growth In 2018 (Newswire)

Melanie ConsMortgage Talk Canada

NEWS PROVIDED BY Conference Board of Canada OTTAWA, March 13, 2018 /CNW/ – Vancouver and Abbotsford–Mission are forecast to be the fastest growing census metropolitan areas (CMAs) in Canada this year, and Victoria is also expected to rank in the top 10, according to The Conference Board of Canada’s Metropolitan Outlook: Winter 2018. “The pace of growth in Vancouver and Victoria’s economies are expected to moderate this year, with the slowdown led by housing and consumer spending, … Read More