BMO reported a rise in delinquencies in the second quarter and said it expects credit challenges to persist with interest rates now likely to remain higher for longer. The bank saw 90+ day delinquencies in its real-estate secured lending (RESL) portfolio rise to 0.19% in the quarter, up from 0.17% last quarter and 0.14% of […]

Canadian Home Buyers Remain On the Sidelines In April As New Listings Surge. The Canadian Real Estate Association (CREA) announced today that national home sales dipped in April 2024 from its prior month, as the number of properties available for sale rose sharply to kick off the spring housing market. Home sales activity recorded over […]

Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March. The seasonally adjusted annual rate of housing starts in Canada came in at 240,229 units for April, down from 242,267 in March, according to a report Wednesday by the national housing agency. The […]

While Canada’s economy is still expected to enter a technical recession this year, Oxford Economics now believes the downturn will be less severe than initially thought. In a recent research report, the firm said it expects GDP growth will contract in the second and third quarters before turning positive again in the fourth quarter. “GDP […]