MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Feb Housing Wrap: Market Rebounds But Affordability Key Concern

CANADA DATA
  • 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.
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.