{"id":48393,"date":"2017-05-18T21:38:00","date_gmt":"2017-05-19T01:38:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48393"},"modified":"2025-07-18T21:39:45","modified_gmt":"2025-07-19T01:39:45","slug":"may-18-2017","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48393","title":{"rendered":"May 18, 2017"},"content":{"rendered":"

The Toronto housing market is getting weird<\/a>:<\/p>\n

\n

Agents are also reporting price cuts for some listings, bidding delirium for others, and a swarm of investors looking for deals.<\/p>\n

After holding on to their rapidly appreciating asset for so long, some sellers in the Greater Toronto Area appear to be rushing headlong to cash in. Buyers who lamented that there were so few listings now seem incapacitated by the amount of choice.<\/p>\n

\u201cI think they\u2019re overwhelmed \u2013 there are so many houses to look at,\u201d says Ms. [Davelle] Morrison of Bosley Real Estate Ltd. \u201cNo matter what neighbourhood they want to be in, there are so many houses to look at.\u201d<\/p>\n<\/blockquote>\n

There will be ups and downs, all magnified by reporters who have to convince their readers that they will miss important news if they don’t read the story right now, but I continue to believe that the Canadian housing market and the preferred share market are linked by one thing: there won’t be a dramatic change until five-year yields start rising substantially.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-2.1205 %<\/td>\n2,104.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-2.1205 %<\/td>\n3,861.7<\/td>\n<\/tr>\n
Floater<\/td>\n3.62 %<\/td>\n3.80 %<\/td>\n58,965<\/td>\n17.80<\/td>\n4<\/td>\n-2.1205 %<\/td>\n2,225.5<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0124 %<\/td>\n3,048.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.72 %<\/td>\n4.20 %<\/td>\n69,842<\/td>\n1.59<\/td>\n5<\/td>\n0.0124 %<\/td>\n3,641.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0124 %<\/td>\n2,840.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.33 %<\/td>\n1.00 %<\/td>\n67,070<\/td>\n0.09<\/td>\n22<\/td>\n-0.1104 %<\/td>\n2,776.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.13 %<\/td>\n5.16 %<\/td>\n103,661<\/td>\n15.20<\/td>\n14<\/td>\n-0.6713 %<\/td>\n2,985.4<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.52 %<\/td>\n4.16 %<\/td>\n204,085<\/td>\n6.57<\/td>\n94<\/td>\n-0.5646 %<\/td>\n2,294.4<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.01 %<\/td>\n4.94 %<\/td>\n140,518<\/td>\n0.10<\/td>\n31<\/td>\n-0.0966 %<\/td>\n2,881.0<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.52 %<\/td>\n3.32 %<\/td>\n49,638<\/td>\n4.44<\/td>\n10<\/td>\n-0.6395 %<\/td>\n2,510.7<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n-3.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 12.35
\nEvaluated at bid price : 12.35
\nBid-YTW : 3.86 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-3.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 12.32
\nEvaluated at bid price : 12.32
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset<\/td>\n-2.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 18.33
\nEvaluated at bid price : 18.33
\nBid-YTW : 4.11 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset<\/td>\n-2.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.01
\nBid-YTW : 7.85 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset<\/td>\n-2.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 21.95
\nEvaluated at bid price : 22.29
\nBid-YTW : 4.22 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset<\/td>\n-2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.53
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-1.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 12.54
\nEvaluated at bid price : 12.54
\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset<\/td>\n-1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 20.50
\nEvaluated at bid price : 20.50
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n
TD.PF.H<\/td>\nFixedReset<\/td>\n-1.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.79
\nBid-YTW : 4.15 %<\/td>\n<\/tr>\n
BAM.PF.H<\/td>\nFixedReset<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.17
\nBid-YTW : 3.82 %<\/td>\n<\/tr>\n
IAG.PR.G<\/td>\nFixedReset<\/td>\n-1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.11
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset<\/td>\n-1.70 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 20.84
\nEvaluated at bid price : 20.84
\nBid-YTW : 4.01 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 20.67
\nEvaluated at bid price : 20.67
\nBid-YTW : 4.22 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 4.44 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n-1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 22.98
\nEvaluated at bid price : 23.37
\nBid-YTW : 5.30 %<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset<\/td>\n-1.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.57
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.63
\nBid-YTW : 7.47 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset<\/td>\n-1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 22.53
\nEvaluated at bid price : 23.18
\nBid-YTW : 4.94 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset<\/td>\n-1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.50
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
NA.PR.Q<\/td>\nFixedReset<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.42
\nBid-YTW : 4.03 %<\/td>\n<\/tr>\n
BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 22.67
\nEvaluated at bid price : 23.03
\nBid-YTW : 5.32 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 20.51
\nEvaluated at bid price : 20.51
\nBid-YTW : 4.03 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 15.20
\nBid-YTW : 9.21 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.80
\nBid-YTW : 6.81 %<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.44
\nBid-YTW : 3.54 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n-1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 3.33 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 20.93
\nEvaluated at bid price : 20.93
\nBid-YTW : 4.01 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 21.55
\nEvaluated at bid price : 21.90
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 23.88
\nEvaluated at bid price : 24.13
\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.85
\nBid-YTW : 6.83 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 22.50
\nEvaluated at bid price : 22.76
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 14.30
\nEvaluated at bid price : 14.30
\nBid-YTW : 4.00 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 21.18
\nEvaluated at bid price : 21.18
\nBid-YTW : 4.03 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
GWO.PR.T<\/td>\nDeemed-Retractible<\/td>\n837,263<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.95
\nBid-YTW : 5.21 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset<\/td>\n104,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 20.51
\nEvaluated at bid price : 20.51
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
BMO.PR.C<\/td>\nFixedReset<\/td>\n46,750<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.63
\nBid-YTW : 4.15 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset<\/td>\n39,710<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.50
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
BAM.PF.I<\/td>\nFixedReset<\/td>\n35,561<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.90
\nBid-YTW : 4.14 %<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetual-Premium<\/td>\n24,764<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.55
\nBid-YTW : -14.26 %<\/td>\n<\/tr>\n
There were 17 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\nQuote: 12.35 – 13.25
\nSpot Rate : 0.9000
\nAverage : 0.5816<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 12.35
\nEvaluated at bid price : 12.35
\nBid-YTW : 3.86 %<\/td>\n<\/tr>\n

IAG.PR.G<\/td>\nFixedReset<\/td>\nQuote: 22.11 – 22.85
\nSpot Rate : 0.7400
\nAverage : 0.4318<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.11
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n

TRP.PR.E<\/td>\nFixedReset<\/td>\nQuote: 20.67 – 21.28
\nSpot Rate : 0.6100
\nAverage : 0.3632<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 20.67
\nEvaluated at bid price : 20.67
\nBid-YTW : 4.22 %<\/td>\n<\/tr>\n

IFC.PR.A<\/td>\nFixedReset<\/td>\nQuote: 18.01 – 18.63
\nSpot Rate : 0.6200
\nAverage : 0.3922<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.01
\nBid-YTW : 7.85 %<\/td>\n<\/tr>\n

BIP.PR.A<\/td>\nFixedReset<\/td>\nQuote: 23.18 – 23.70
\nSpot Rate : 0.5200
\nAverage : 0.3465<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 22.53
\nEvaluated at bid price : 23.18
\nBid-YTW : 4.94 %<\/td>\n<\/tr>\n

BAM.PR.K<\/td>\nFloater<\/td>\nQuote: 12.32 – 12.89
\nSpot Rate : 0.5700
\nAverage : 0.3975<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-18
\nMaturity Price : 12.32
\nEvaluated at bid price : 12.32
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Toronto housing market is getting weird: Agents are also reporting price cuts for some listings, bidding delirium for others, and a swarm of investors looking for deals. After holding on to their rapidly appreciating …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-48393","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48393"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48393\/revisions"}],"predecessor-version":[{"id":48394,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48393\/revisions\/48394"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}