MNI BRIEF: Japan Nov Sentiment, Outlook Indexes Rise

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

Nov Housing Wrap: Affordability Key Concern Despite Buyers' Market

CANADA
  • Canadian housing market overall soft as high interest rates work through the economy. Sales-to-new listings ratio are at a 10 year low, moving into buyers' territory.
  • Existing home sales -5.6% in Nov, fourth consecutive decline; -13.5% YOY. According to CIBC, sales 12% below their pre-pandemic decade-average level.
  • Teranet Housing Index -0.98% MOM in Oct, the second decrease after 6 prior increases; +2.8% YOY.
  • National Bank reported it would only take a home price increase of +2% in the Q4 to surpass the worst level of affordability in a generation.
  • Housing starts +1% to 275K units, CMHC Chief Economist Bob Dugan noted "we will need to find innovative ways to deliver more housing and close the supply gap in this challenging economic environment."
  • Government Fall Economic Statement focused heavily on housing affordability, dedicating CAD6.3B to policy initiatives, 30% of new spending.
  • Around 3.4M Canadians, 31% of mortgage holders, will renew their mortgage in the next 18 months says Royal LePage in a 2023 Mortgage Renewal Survey.
Homepagemarkets-real-timeBulletMarketsFixed 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.