Canada

The U.S. mortgage insurance business remained a bright spot for Genworth Financial, as fourth quarter adjusted operating income increased 29% and new insurance written rose nearly 95% over the prior year.

Dwindling inventories of existing homes in Toronto is driving sales of pricier newly built housing, another sign of tightening in Canada's largest real estate market.

Canadian real estate is increasingly becoming a seller's market as supply shrinks to decade lows, raising the prospect of rising prices and the re-emergence of froth in some major cities.

Canadian Imperial Bank of Commerce expects its growth in domestic mortgages to be more “market-like” in 2020, after last year’s contraction in home-loan balances, Chief Executive Officer Victor Dodig said.

Home sales dropped in Toronto in December, but prices continued to rise as demand outstripped a dwindling supply of units available for purchase.

The deadline for China Oceanwide to complete its acquisition of Genworth Financial was extended for a 13th time, following completion of the sale of Genworth MI Canada to Brookfield Business Partners.

Canadian home sales picked up in November as a rebound in Toronto and Vancouver offset weakness in Calgary.

Toronto's home prices extended gains in November, and are now accelerating at the fastest annual pace since 2017 as demand continues to outpace a dwindling supply of listings.

Wealthy homebuyers are finding global cities less welcoming — even hostile — to their cash.

Canadian housing sales took a breather as activity in Toronto pulled back, but strength in the western provinces highlights a sustained recovery at the national level.