CMHC just released its quarterly dashboard for the Residential Mortgage Industry Quarterly Report. This report helps fill housing market data gaps by providing the latest trends and data in the mortgage industry.

Key highlights from the winter 2022 dashboard include:

• More Canadians have taken on new mortgages (both for property purchases and refinancing) which led to an acceleration of mortgage debt in 2021 for mainly driven by increases in new property purchases in the uninsured market.
• Uninsured loans with a TDS over 40% increased to over 25% of mortgages extended in the quarter and this share has been increasing since the second half of 2020. These more leveraged borrowers face higher monthly payments relative to income, thus affecting their ability to continue to afford mortgage payments and increasing risks.
• Mortgages in arrears continued to decrease across all lender types.  While emergency COVID-19 related mortgage deferrals have largely ceased, property owners are able to take advantage of tight market conditions to avoid delinquencies.

Home sales recorded over Canadian MLS® Systems were up 8.6% between September and October 2021, marking the largest month-over-month increase since July 2020.

Sales were up month over month in about three-quarters of all local markets, and in all major cities.

The actual (not seasonally adjusted) number of transactions in October 2021 was down 11.5% on a year-over-year basis from the record for that month set last year. That said, it was still the second-highest ever October sales figure by a sizeable margin.

On a year-to-date basis, some 581,275 residential properties traded hands via Canadian MLS® Systems from January to October 2021, surpassing the annual record of 552,423 sales for all of 2020.

“After a summer where it looked like housing markets might be calming down a bit, October’s numbers suggest we might be moving back towards what we saw this Spring, with regards to current market demand and supply conditions,” said Cliff Stevenson, Chair of CREA. “That said, one month of data is not a trend, so we’ll be watching how the balance of this memorable year plays out closely. And remember, in what is still a rapidly changing landscape, your local REALTOR® can provide much more granular and timely information and guidance about what is going on in the neighbourhoods where you live or where you might like to in the future,” continued Stevenson.

(NC) The holiday season can be expensive. Between entertaining and choosing the perfect gifts, your wallet can take a hit.

Even if you do find some great bargains, credit card interest rates can quickly eat up savings from discounted prices if you carry a balance forward.

Reduce financial stress and boost your financial resilience in the new year by following these tips:

1. Set a budget for gift spending before you start shopping — one for each person on your list, as well as a total limit for all gifts.
2. Plan to pay the total amount owing on your credit card by the due date to avoid interest charges. If this is not possible, pay as much as you can — at least your minimum payment.
3. Avoid taking cash advances on your credit card, as you will be charged interest immediately.
4. Check your monthly statement carefully and report any unauthorized transactions to your credit card company immediately. This is especially important in January, since fraud occurs more frequently during the holiday season.

The Financial Consumer Agency of Canada has more tips and resources to help you budget and pay off your credit card at canada.ca/money.

(NC) As the Canadian economy recovers from the disruptions caused by COVID-19, it has become clear that a growing number of Canadians are under increased financial stress.

If you are among those facing financial pressures, the following tips and tools can help you gain the upper hand and take charge of your personal finances.

Set up a budget

Setting up a budget is key in all circumstances, especially during an emergency. It will help you to identify your income and expenses, and establish spending and debt repayment plans. If you have money left over, it’s a good idea to create an emergency fund to help you prepare for unexpected events and emergencies.

If you need help getting started, try the Financial Consumer Agency of Canada’s interactive online budget planner. It includes tips, advice and alerts to help you take charge of your personal finances.

(NC) Whether you’re gearing up to go for a walk or something more vigorous like cycling, exercising outside can mean exposure to air pollution. Traffic is a major source of air pollution, especially in urban areas.

Traffic-related air pollution is a mixture of gases, particles and many different chemicals from cars, buses and trucks. It includes emissions from exhaust, evaporation of fuel, and particles from tire and brake wear.

This mixture can impact your health, leading to asthma, worsening of allergies and asthma symptoms, and reduced lung function.

Over 80 per cent of Canadians live in cities, but by following these simple steps you can reduce your exposure to traffic-related air pollution while enjoying your favourite outdoor activities:

The Bank of Canada on September 8th held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate. This is reinforced and supplemented by the Bank’s quantitative easing (QE) program, which is being maintained at a target pace of $2 billion per week.

The global economic recovery continued through the second quarter, led by strong US growth, and had solid momentum heading into the third quarter. However, supply chain disruptions are restraining activity in some sectors and rising cases of COVID-19 in many regions pose a risk to the strength of the global recovery. Financial conditions remain highly accommodative.

(NC) Canadians are used to extreme weather, from fog to blizzards to heat waves. Various levels of government keep track of these weather events and issue alerts so you know when to take extra care.Though we all know the dangers of freezing temperatures, you might not realize that extreme heat comes with dangerous health risks as well. Here’s what you need to know:

What are the risks?

Heat illnesses include heat stroke, heat exhaustion, fainting, heat rash or cramps, and swelling of the hands, feet and ankles. These conditions tend to be caused by overexposure to heat or overexertion in the heat. If not prevented, heat illness can lead to long-term health problems and even death.

Older adults, young children, people living with chronic illness, social isolation or poverty, and people who work outdoors often have a higher risk for heat illness. If you take medication, consult with your family doctor or pharmacist about your level of risk.

Fortunately, most negative outcomes of heat illness can be avoided if you take appropriate action.

What to do?

• Stay hydrated.
• Check in with family and friends to make sure they’re okay.
• Reschedule or plan outdoor activities for cooler parts of the day.
• Dress in loose-fitting, light weight, breathable clothing
• Cool off in the shower or in an air-conditioned space.

What to watch for?

Symptoms of heat illness include:

• dizziness or fainting,
• nausea or vomiting,
• headache,
• rapid breathing and heartbeat.

If you have any of these symptoms during extreme heat, move to a cool place and drink water right away.

Immediately call 911 or your local emergency number if someone you’re caring for has a high body temperature and is either unconscious, confused, or has stopped sweating.

While waiting for help, move them to a cool place, apply cold water to their skin and clothing, and fan them as much as possible.

Find more information at Canada.ca/health.

www.newscanada.com

In May the Teranet–National Bank National Composite House Price IndexTM was up 2.8% from the previous month, the largest monthly rise since the index series began in 1999. It was led by four of the 11 constituent markets: Ottawa-Gatineau (4.9%), Halifax (4.3%), Hamilton (3.7%) and Toronto (3.4%). Rises were more moderate for Vancouver (2.3%), Winnipeg (2.2%), Montreal (2.2%), Victoria (2.1%), Calgary (1.4%), Quebec City (1.2%) and Edmonton (1.2%). It was a third consecutive month in which all 11 markets of the composite index were up from the month before.

The May rise was consistent with the increase in number of home sales over the last several months as reported by the Canadian Real Estate Association. For a ninth straight month, the number of sale pairs entering into the 11 metropolitan indexes was higher than a year earlier. The unsmoothed composite index, seasonally adjusted, was up 2.1% in May, suggesting that the uptrend of the published (smoothed) index could continue.

The May composite index was up 13.7% from a year earlier, for a 10th consecutive acceleration and the strongest 12-month gain since July 2017. The 12-month rise was led by five markets – Halifax (29.9%), Hamilton (25.5%), Ottawa-Gatineau (22.8%), Montreal (17.6%) and Victoria (15.3%). Toronto matched the countrywide average at 13.7%. Lagging that average were Vancouver (11.9%), Winnipeg (10.4%), Quebec City (9.8%), Calgary (4.5%) and Edmonton (3.6%).

Besides the Toronto and Hamilton indexes included in the countrywide composite, indexes exist for seven smaller urban areas of the Golden Horseshoe – Barrie, Guelph, Brantford, Kitchener, St. Catharines, Oshawa and Peterborough. In May all seven were up from the previous month and from a year earlier. The 12-month gains ranged from 27.6% for Brantford to 31.4% for Barrie.

Source: https://housepriceindex.ca/2021/06/may2021/

(NC) The COVID-19 pandemic has had a major impact on our mental health, but men and women have not been affected equally. Women are twice as likely to develop depression and anxiety disorders than men, and new research since the onset of the pandemic has shown Canadian women’s mental health has been more negatively impacted than men’s.

Many women are facing increased pressures and responsibilities. Until recently, treatment options and services offered to women have not considered sex and gender differences, like physiological and cultural differences, that leave many women underserved and overlooked. This has resulted in what experts refer to as a “health gap,” which for women in marginalized and disadvantaged communities is unfortunately even wider.

The Run for Women event, sponsored by the Love You by Shoppers Drug Mart program, is a national event happening virtually this year in support of women’s mental health programs in local communities across the country. The run helps mothers, daughters and friends through programs that support women taking the next step toward recovery.

What many don’t know is the real impact physical activity can have on mental health. Aerobic exercises, like running and walking, are recommended in clinical guidelines and can sometimes be as effective as medication for mild to moderate depression.

Despite the barriers women face when it comes to mental health, the power of community support can make a big difference — even virtually.

“Especially during this time, we know there are many women who are struggling with their mental health,” said Jeff Leger, president of Shoppers Drug Mart. “That’s why we’re proud to continue supporting women’s mental health charities in communities across Canada that provide essential programs and services to help women get the support they need.”

The run offers 5k and 10k races, as well as a 1k little steps run to get kids 12 and under involved. Runs are happening virtually in 18 cities across Canada from July 4 to 11, and $35 from the registration fee will go directly to your local women’s mental health charity.

When we come together, we can help make a difference for the women in our lives and communities.

www.newscanada.com