MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Feb Housing Wrap: Market Rebounds But Affordability Key Concern

CANADA DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Canadian housing market continues to rebound as buyers anticipate rate cuts later in the year.
  • Home sales +3.7% in Jan, the second consecutive increase. Activity is on par with levels from the housing resurgence in spring 2023.
  • New listings +1.5% MOM, the first increase in 4M.
  • “The market has been showing some early signs of life over the last couple of months, probably no surprise given how much pent-up demand is out there,” said Larry Cerqua, Chair of CREA.
  • Housing starts -10% from Dec after a strong increase last month. The total is still the second highest for the month on Jan in records back to 1990.
  • Teranet Housing Index -0.3% MOM after SA with only 2 of 11 markets driving the decrease; Non SA -1.6% MOM, the fifth consecutive decline and the largest since September 2022.
  • Fixed rates are now as low as 4.84%, a percentage point drop from last fall, says James Laird to Global News.
  • National Bank of Canada's rental affordability index shows a record low in affordability. Housing affordability also decreased for a second consecutive quarter in Q4 2023.
  • Undergraduate international student cap aimed at slowing rental demand will reduce number of permits given by -35% in 2024 compared to 2023. CMHC says the national vacancy rate for Canada’s primary rental market reached a new low of 1.5% in 2023.
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  • Canadian housing market continues to rebound as buyers anticipate rate cuts later in the year.
  • Home sales +3.7% in Jan, the second consecutive increase. Activity is on par with levels from the housing resurgence in spring 2023.
  • New listings +1.5% MOM, the first increase in 4M.
  • “The market has been showing some early signs of life over the last couple of months, probably no surprise given how much pent-up demand is out there,” said Larry Cerqua, Chair of CREA.
  • Housing starts -10% from Dec after a strong increase last month. The total is still the second highest for the month on Jan in records back to 1990.
  • Teranet Housing Index -0.3% MOM after SA with only 2 of 11 markets driving the decrease; Non SA -1.6% MOM, the fifth consecutive decline and the largest since September 2022.
  • Fixed rates are now as low as 4.84%, a percentage point drop from last fall, says James Laird to Global News.
  • National Bank of Canada's rental affordability index shows a record low in affordability. Housing affordability also decreased for a second consecutive quarter in Q4 2023.
  • Undergraduate international student cap aimed at slowing rental demand will reduce number of permits given by -35% in 2024 compared to 2023. CMHC says the national vacancy rate for Canada’s primary rental market reached a new low of 1.5% in 2023.