Canada's HOUSING MORTGAGE IMBALANCE DASHBOARD

Navigate the dashboard using the hamburger button or clicking on underlined headers. Data updated monthly.

% = Percentage change | HMI = Housing Mortgage Imbalance | New HPI = New Home Price Index

SHARE THIS DATA

SHARE THIS DATA

HMI, %

NEW HPI, %

ONTARIO

HMI, %

NEW HPI, %

BRITISH COLUMBIA

HMI, %

NEW HPI, %

NOVA SCOTIA

HMI, %

NEW HPI, %

ALBERTA

HMI, %

NEW HPI, %

QUEBEC  |  CAN

HMI, %

NEW HPI, %

ABOUT THE HOUSING MORTGAGE IMBALANCE (HMI) INDICATOR:

The HMI captures the gap between mortgage credit growth and underlying housing/economic fundamentals. It is calculated by taking the annualized growth rate of bank residential mortgages and subtracting by the annualized growth rate of the housing stock. If bank residential mortgages are growing faster than the housing stock, then the HMI will be a positive value. This indicates that there is more new money (bank deposits) entering the housing market than the number of new homes. We have found that this is the leading cause of inflation in Canada's housing market.

FREE RESEARCH

ABOUT THIS DASHBOARD:

This dashboard displays overview data for the housing mortgage imbalance (HMI) indicator for Canada and a select few provinces. The HMI data is updated quarterly, while the new home price index data is updated monthly.