Canadians’ worries about household debt continue to persist

Robb NelsonMortgage Talk Canada

by Ephraim Vecina Canadians continue to be anxious about inflation and rising costs of living, despite household debt easing slightly by the second quarter of the year. According to fresh data from the Credit Counselling Society, the Canadian household debt ratio shrunk to 177.1% of disposable income during Q2 2019, slightly lower than the previous quarter’s reading of 177.6%. The CCS … Read More

Better employment to fuel even greater housing sales activity

Robb NelsonMortgage Talk Canada

by Ephraim Vecina After three straight months of stagnant levels, the Canadian workforce saw the addition of 81,000 new jobs last month. The increase far surpassed earlier predictions of roughly 20,000 new workers, and contributed to the massive 471,300 new jobs in the economy during the past year alone. This was the largest 12-month gain since 2003, keeping the unemployment rate … Read More

What profits at Canada’s big banks are saying about the odds of a recession

Robb NelsonMortgage Talk Canada

By: Peter Evans If a recession is headed our way, the canaries in the economic coal mine that are most likely to sing its arrival will be Canada’s big banks. That’s because Canada’s five biggest lenders — Royal Bank, TD, Bank of Montreal, Scotiabank and CIBC — have a hand in nearly every aspect of Canada’s economy, from loaning businesses money for … Read More

Refinance now or wait in a very, very long line

Robb NelsonMortgage Talk Canada

By: Peter Miller The Mortgage Reports Contributor You might be delaying your plans to apply for a refinance. And that could be a mistake. The time it takes to refinance is about to shoot up. Way up. Homeowners are refinancing in droves, which is taking lenders by surprise. In December 2012 it took 57 days to close a refinance, according to mortgage … Read More

Toronto mixed-use developments the world’s envy

Robb NelsonMortgage Talk Canada

by Neil Sharma Toronto is experiencing one of the world’ s largest building booms, but it’s the city’s mixed-use developments that have become the world’s envy. One such development is Union Park, a sprawling 4.3 million square foot, $3.5 billion office, residential and retail complex in the city’s core. Not only will it be one of the largest developments in Toronto’s … Read More