TD Economics Report Feb 8, 2017

TD Economics brought to you by Dina Ignjatovic, Economist

 

Data Release: Housing starts kick off the year on strong footing

 

  • Canadian housing starts kicked off the year on a strong note, with homebuilders breaking ground on 207k units (annualized) in January.  This extends December's sharp gain, and pushes the 6-month moving average up just shy of the 200k unit mark.

 

  • The strength in January stemmed from the multi-family sector, which was up 4.2% following a 14% gain in December.  Meanwhile, single family construction was down 4.6% on the month, reversing some of December's gains.

 

  • Regionally, Ontario remained the key driver of growth, with starts up by a whopping 25% in January.  Homebuilding in the Atlantic Provinces was also up during the month while the remaining regions recorded declines.  B.C. experienced the largest pullback, as home starts slid 33% from the month prior.

 

Key Implications

 

  • Overall, housing starts have been hovering around the 200k mark annualized (on a trend basis) for the last six quarters, or just slightly above the current rate of household formation.  However, homebuilding construction should begin to slow over the course of the year, consistent with a cooling in overall housing market activity.

 

  • Still, the recent strength in multi-unit projects could have further room to run given the surge in building permit approvals seen over the second half of last year. This could be partly offset by single-family construction, which is already at relatively lofty levels.

 

  • The regional story will continue to reverberate across the housing markets, with central Canada leading the way, while B.C. and the oil-rich provinces lagging behind.

 

 

  • October 4, 2016
  • Posted by Jennifer Gaudet

No more discounts for fixed-rate mortgage borrowers

No more discounts for fixed-rate mortgage borrowers   More big changes in the mortgage industry!! If you're purchasing a home with less than 20% down, your purchasing power just decreased by 2

  • April 26, 2016
  • Posted by Jennifer Gaudet

Two Mortgages to help you build your Dream home- Military Mortgage Inc

  Build It! Two mortgages to help you build your dream home Money when it’s done: The Completion Mortgage. Just like it sounds, this is for situations when you don’t need to actuall

  • March 9, 2016
  • Posted by Jennifer Gaudet

Home staging and Redesign - by Makes Sense Home Staging and Redesign

Home staging and Redesign - by Makes Sense Home Staging and Redesign Check it out here http://makessensehomestaging.com/ Home staging is the act of preparing a private residence for sale

  • March 9, 2016
  • Posted by Jennifer Gaudet

Bank of Canada announces overnight rate target

Bank of Canada announces overnight rate target Compliments of http://www.mortgagebrokernews.ca/news/bank-of-canada-announces-overnight-rate-target-204212.aspx The Central bank has released its

  • March 8, 2016
  • Posted by Jennifer Gaudet

Data Release: Housing starts come back with vigor in February

Data Release: Housing starts come back with vigor in February compliments of TD Bank March 2016   ·         Following a weak start to t

  • March 7, 2016
  • Posted by Jennifer Gaudet

Bank penalty floors military family

compliments of chronicle herald July 23, 2015             http://thechronicleherald.ca/novascotia/1301027-bank-penalty-floors-military-family   A young military mo

  • March 3, 2016
  • Posted by Jennifer Gaudet

Mortgage Financing after Bankruptcy

  You CAN get a mortgage after bankruptcy. Here’s what you need to know   Buying a home after bankruptcy is not the same as buying a home with good credit having no previous bankrup

  • March 2, 2016
  • Posted by Jennifer Gaudet

Military Relocation Expo - Greenwood NS

Relocation Expo   Are you being posted soon? Maybe you're thinking about buying a home in the area? Join us for our inaugural Relocation Expo to network with local experts and service providers

  • March 1, 2016
  • Posted by Jennifer Gaudet

Thinking of buying your next home?

Thinking of buying your next home? Your first move should be to talk to us! Maybe you want to create the perfect house that fits your lifestyle. Or maybe your family needs more room to grow. Whateve

  • March 1, 2016
  • Posted by Jennifer Gaudet

Smooth move! Nine tips to survive the buy/sell

Smooth move! Nine tips to survive the buy/sell So there’s a move in your future. It can be a stressful juggling act: selling one home, buying another. We deal with this all the time, and have s

Bookmark and Share