Crises are routine when markets are already pricing in recession. Financial institution meltdowns have coincided with a top in yields in numerous prior cycles. And it may be happening again with Silicon Valley Bank (SVB).

The Santa Clara, California based bank collapsed Friday, causing investors to rush into government bonds for safety.

In down real estate cycles it's normal to get regularly bombarded with gloomy real estate stories (like this).

It can be tempting to think the housing correction is still in the middle innings when in fact, the correction may be down to its last three outs.

Despite the downside risk that still exists, there's going to be a month where home prices bottom. And very few will see it coming.

In some markets, it may (heavy italics) have already come.

Mortgage Professionals Canada (MPC) shared its latest mortgage consumer survey today. Here were nine of its most interesting findings (our take in italics).

Lendesk, a tech company that electronically connects mortgage brokers to lenders, recently partnered with another mortgage technology firm Intellifi to create a more efficient document-sharing system.

When we first saw the press release, it didn't fully hit us as to why this news was relevant. And we probably weren't the only ones—hence the reason for this story.

To get a handle on how this technology impacts day-to-day mortgage originators we reached out to Strive, which is the first lender on board with Lendesk/Intellifi's new system. Here's what we learned.

Markets are pricing in only a 1% chance of a BoC hike at its next rate meeting on Wednesday. Canadian bond investors clearly aren't worried about an inflation resurgence to the same extent as their counterparts down south.

Unfortunately, as they often do, U.S. yields have been driving the bus on Canadian rates. Following a string of worrisome North American jobs numbers and inconclusive inflation data, the 4-year swap—MLN's preferred fixed-rate indicator (chart below)—is up 55 bps in four weeks.

As is standard on the first of every month, MLN's Amortization Simulator was updated yesterday to reflect the latest market-implied Bank of Canada rate path. Click here for the latest version.

The first thing you may notice about the new spreadsheet is that markets still expect 200 bps of rate cuts, starting next year. The difference is, the cutting schedule is now elongated.

We've received multiple anecdotal reports of banks cutting back credit card limits for customers who've been paying as agreed. These are high FICO score customers who've had no delinquencies.

One can imagine what's happening to folks who have actually missed a payment.

With spiralling prices, credit has been a lifeline for some borrowers—and it reflects in the numbers. Bank credit card borrowing exploded by 13.8% through December.