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.
Vancouver home buyers can now expect to shell out more than their monthly income to fund a mortgage payment, making it the most expensive city in Canada where affordability is now the worst since 1981, underlining why the central bank says the economy is overheated and higher interest rates are needed to restore balance.
National Bank of Canada said Wednesday that mortgage service costs across the country reached 67.3% of income, and in Vancouver the figure is 102.1%. The Bank of Canada has raised rates 350bps this year and will pause early next year as consumer spending is pinched, academic and former BOC adviser Thorsten Koeppl told MNI. (See: MNI INTERVIEW: BOC Pausing Soon To Assess Lags- Ex-Adviser)
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.