Canada – Market, Housing & Mortgages
| Index | Weekly Move |
|---|---|
| S&P/TSX Composite | ▲ +0.4 % |
| S&P/TSX 60 | ▲ +0.5 % |
Key Points
- Mortgage Renewals Surge: ~60 % of mortgages will reset by 2026, bringing higher payments for many households as their ultra-low fixed rates expire—an important affordability head-wind to watch.
- Housing Update: Average resale prices dipped modestly in May, yet the typical monthly mortgage payment remains elevated at roughly C$2,300.
- CMHC Activity: C$54 billion in mortgage-backed securities were guaranteed in Q1—bolstering market liquidity, while participants continue to assess longer-term implications for the housing system.
- Credit Watch: Mortgage arrears are still subdued (≈0.30 %), but analysts expect some upward drift as renewals progress and budgets adjust to higher rates.
U.S. – Moody’s Cut, Nvidia Rally & AI Debate
| Index / Yield | Weekly Move | Note |
|---|---|---|
| S&P 500 | ▼ –2.61 % | Moody’s cut dents investor confidence |
| Nasdaq | ▼ –2.39 % | Tech-led decline, Apple under pressure |
| Dow Jones | ▼ –2.47 % | Industrial sell-off on tariff fears |
| 10-Yr Treasury | ▲ 4.50 % (+1.43 bp) | Higher yields on deficit & inflation worries |
Stocks in Focus
| Ticker | Weekly Move | Highlights |
|---|---|---|
| NVIDIA (NVDA) | ▲ +4.3 % | Record Q1 revenue ($44.1B); data-center boom continues; export risks loom |
Why It Matters
- Mortgage-Payment Shock: Mass Canadian renewals at higher rates may curb consumer spending and widen credit spreads.
- Macro Volatility: Moody’s outlook cut plus tariff threats heighten uncertainty, pressuring stocks and lifting bond yields.
- AI Disruption: Accelerating AI adoption poses new labor-market risks that will steer Fed policy and corporate investment into 2025.
