This chart shows the detached housing prices for Vancouver, Calgary, Edmonton, Toronto, Ottawa and Montréal. In December Vancouver prices continued to build an awesome price ceiling, and Calgary exchanged places with Edmonton as the epicenter of dramatic price sell-offs. Toronto continued to rally on the pending land transfer tax and Ottawa and Montreal continue to trade in a long term range.
This chart shows the year over year rate of change in the price of Vancouver, Calgary, and Toronto detached housing as well as the S&P TSX Real Estate Index. As can be seen, Toronto is bucking the trend while Vancouver and Calgary are trending flat and the S&P TSX RE index continues plowing new ground into negative numbers.
This Chart shows Vancouver, Calgary and Toronto detached housing priced in ounces of gold valued in CA$. Gold is not rising because of it's commodity characteristics but because of it's classic use as a hedge against currency depreciation and its ability to act as money. The millionaire metric allows you to see what your dollar is worth and the declining amount of gold you need to be a millionaire. In January it became a lot easier (by 16% Y/Y) to be a millionaire if you bought gold this time last year.
This chart shows that the 5yr mortgage rate rose 15 bps in December to 7.54% while the BoC rate dropped 25 bps to 4.5% created a widening spread change of 40 bps in one month. The trend then is for short rates to fall while long rates rise and it will show up in the yield curve as steepening. The CPI (Consumer Price Index ~ one month behind) ticked up 0.1% from the prior month. See the source page for what CPI does not include.
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