Amidst a continued slowdown across the national housing market, which includes national home sales dropping to a decade low in March, Bank of Canada Governor Poloz suggested, “We’ve gone from boom to bust, of course, with lots of new policies put in place.” Ironically the Bank has recently engaged in the purchasing of Canada Mortgage Bonds, a policy which arguably ensures adequate liquidity in the mortgage market. Again, while the Bank maintains this is simply a diversification to offset currency liabilities and nothing to do with concerns in the mortgage market, recent growth in the residential mortgage sector should be keeping Poloz and his crew up at night. Per recent data from the Bank of Canada, residential mortgage credit growth was just 3.22% year-over-year in March, levels not seen since 2001.

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Key Political Developments Prime Minister Trudeau’s ResignationTrudeau, described as economically illiterate, is resigning. Trump’s Inauguration A knowledgeable Vancouver real estate