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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com

23 May 2019

Canada’s credit market is expanding, but delinquency rates remain stable

Although Canada’s credit market has expanded, consumers keep managing their debts quite fine.

The mortgage market keeps showing slower growth, but the general results are still good.

According to the recent report by TransUnion, the number of Canadians who had access to credit products was up in Q1 2019 by 1.3% annually and reached 28.9 million. Meanwhile, the total balance of these products rose by 4.2% to $1.85 trillion.

The largest increase in consumer credit sector was seen in the segment of non-revolving credit products, e.g. auto loans and installment loans. The number of borrowers with at least one of such loans was up by 3.1%.

“The consumer credit market grew despite the declines from a more modest economic growth, signs of stronger inflationary pressures and rising interest rates. It’s very optimistic that the credit increase didn’t come with the significant delinquencies hike, as they remained almost unchanged”, - noted Matt Fabian, director of financial services research and consulting for TransUnion Canada.

22 May 2019

What to expect from home prices during the next 5 years?

The new forecast by Moody’s Analytics concerning real estate prices will hardly make you happy.

In case you already have a property and want to increase your equity sharply, it’s not going to work. If you only plan to buy a home and hope for a pause in a skyrocketing prices cycle, it’s also not the scenario we can see.

The report predicts an average annual prices increase of 2.2% nationally during the next 5 years. As the central bank expects a 2% inflation in the coming years, it means the inflation-adjusted home prices will probably show no net growth.

The national economy is recovering from a slowdown seen at the start of the year, and Moody’s predicts a 1% mortgage rate increase during the next 2 years.

21 May 2019

IMF believes Canada shouldn’t change mortgage stress test requirements

According to the International Monetary Fund, household debt in Canada remains too high, and no police changes for increasing housing activity are necessary.

The IMF’s report follows the Conservative Leader Andrew Scheer’s calls for reviewing the Liberal’s mortgage stress test in order to make real estate more affordable for Canadian buyers.

Nevertheless, the IMF believes it’s unreasonable to support strong activity in the sector, and Canada should aim at a gradual slowdown in hot housing markets, as it will reduce the overall risk for the national economy.

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24 June 2019

BMO believes there’s no need for the central bank to cut rates Certain industry specialists say the Bank of Canada should cut its key lending rate ag...Read more >>

21 June 2019

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20 June 2019

BMO CEO says low interest rates will remain for a long time According to the BMO CEO, Canadian consumers should be ready for low interest rates and i...Read more >>
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