Canada’s Big Six banks have reported solid Q4 earnings, but a closer look reveals potential headwinds for the GTA housing market. While capital markets drove profits, a rise in impaired loans signals growing financial strain for some homeowners. This trend, coupled with economic uncertainty and stagnant housing activity, warrants attention from GTA real estate investors and homeowners alike. Rising unemployment and mortgage renewals at higher rates are contributing factors. For a deeper dive into the banking sector’s performance and its implications for the broader economy, read the full article on mpamag.com.
Read the original story here: https://www.mpamag.com/ca/mortgage-industry/market-updates/what-the-big-sixs-latest-financial-results-say-about-the-canadian-economy/559178
