Overview

Source: vignettes/Overview.Rmd 
library(dplyr)
#> 
#> Attaching package: 'dplyr'
#> The following objects are masked from 'package:stats':
#> 
#>     filter, lag
#> The following objects are masked from 'package:base':
#> 
#>     intersect, setdiff, setequal, union
library(ggplot2)
library(canbank)

The package gives access ot the Bank of Canada data API. Currently there are 10,457 data series available, grouped into 1,349. We obtain basic information for the series or series groups.

series_list <- list_boc_series()
#> Accessing BOC series list from cache...
series_group_list <- list_boc_series_groups()
#> Accessing BOC series list from cache...

head(series_list) %>% knitr::kable()
name label description link
IEXE0102 USD_CLOSE U.S. dollar (close) https://www.bankofcanada.ca/valet/series/IEXE0102
IEXE0103 USD_HIGH U.S. dollar (high) https://www.bankofcanada.ca/valet/series/IEXE0103
IEXE0104 USD_LOW U.S. dollar (low) https://www.bankofcanada.ca/valet/series/IEXE0104
IEXE0106 USD_CLOSE_90_DAY U.S. dollar closing,90-day https://www.bankofcanada.ca/valet/series/IEXE0106
EUROCAE01.CL EUR_CLOSE European Euro (close) https://www.bankofcanada.ca/valet/series/EUROCAE01.CL
IEXE0301.CL DKK_CLOSE Danish krone (close) https://www.bankofcanada.ca/valet/series/IEXE0301.CL

Data discovery is still somewhat cumbersome, we can search for phrases in the labels or description.

series_list %>%
  filter(grepl("home",label,ignore.case = TRUE)) %>% 
  select(-link) %>%
  knitr::kable()
name label description
V37756 Mobile homes Canadian dollar loans - Loans to Canadian individuals for non-business purposes - To purchase consumer goods and other personal services
FSR_2018JUNE_C3S1 Residential mortgage credit and home equity lines of credit; 3-month seasonally adjusted annualized rate June 2018 FSR; Chart 3; Residential mortgage credit and home equity lines of credit; 3-month seasonally adjusted annualized rate
FSR_2018JUNE_C3S2 Consumer credit, excluding home equity lines of credit; 3-month seasonally adjusted annualized rate June 2018 FSR; Chart 3; Consumer credit, excluding home equity lines of credit; 3-month seasonally adjusted annualized rate
FSR_2018JUNE_C7S1 Year-over-year growth in national quality-adjusted benchmark prices; Single-family homes June 2018 FSR; Chart 7; Year-over-year growth in national quality-adjusted benchmark prices; Single-family homes
FSR_2018JUNE_C8AS1 3-month seasonally adjusted annualized growth in quality-adjusted benchmark prices in the Greater Toronto Area; Single-family homes June 2018 FSR; Chart 8a; 3-month seasonally adjusted annualized growth in quality-adjusted benchmark prices in the Greater Toronto Area; Single-family homes
FSR_2018JUNE_C8BS1 3-month seasonally adjusted annualized growth in quality-adjusted benchmark prices in the Greater Vancouver Area; Single-family homes June 2018 FSR; Chart 8b; 3-month seasonally adjusted annualized growth in quality-adjusted benchmark prices in the Greater Vancouver Area; Single-family homes
FSR_2019_C3_S00 Residential mortgage credit and home equity lines of credit NA
FSR_2019_C3_S01 Consumer credit, excluding home equity lines of credit NA
FSHUB_20201105_C3_S2 Homeowners with a mortgage NA
FSHUB_20201105_C8B_S2 Homeowners NA
FSHUB_20210128_C3B_S1 Homeowners NA
FSHUB_20210317_C2_S2 Multiple Listing Service Home Price Index for Canada, year-over-year percentage change (right scale) NA
FSHUB_20210317_C4_S1 Single-family homes NA
FSHUB_20210317_C8_S1 Consumer credit, including home equity lines of credit NA
SAN_MIKA20210428_C1_S3 Percentage of homes sold over asking (right scale) NA
FSR_2021_C3_S1 Consumer debt, including home equity lines of credit NA
FSHUB_20210505_C3B_S1 Homeowners NA
FSHUB_20210910_C2B_S1 Homeowners NA
SAN_MIKA20211206_C3_S1 First-time homebuyers NA
SAN_MIKA20211206_C3_S2 Repeat homebuyers NA
SAN_MIKA20211206_C4_S1 First-time homebuyers (left scale) NA
SAN_MIKA20211206_C4_S2 Repeat homebuyers (right scale) NA
SAN_MIKA20211206_C6A_S2 First-time homebuyers NA
SAN_MIKA20211206_C6A_S3 Repeat homebuyers NA
SAN_MIKA20211206_C6B_S2 First-time homebuyers NA
SAN_MIKA20211206_C6B_S3 Repeat homebuyers NA
SAN_MIKA20211206_C6C_S2 First-time homebuyers NA
SAN_MIKA20211206_C6C_S3 Repeat homebuyers NA
SAN_MIKA20211206_C6D_S2 First-time homebuyers NA
SAN_MIKA20211206_C6D_S3 Repeat homebuyers NA
SAN_MIKA20211206_C6E_S2 First-time homebuyers NA
SAN_MIKA20211206_C6E_S3 Repeat homebuyers NA
FSR_2022_C2A_S1 Share of mortgaged home purchases by investors NA
FVI_LOANS_ARR_HELOC Home equity lines of credit Rates of loans in arrears (%), by product type—Home equity lines of credit
FVI_MEDIAN_LTI_FTHB First-time homebuyers Median LTI ratio (%), by type of homebuyer—First-time homebuyers
FVI_MEDIAN_LTI_REPEAT Repeat homebuyers Median LTI ratio (%), by type of homebuyer—Repeat homebuyers
FVI_MEDIAN_MDSR_FTHB First-time homebuyers Median mortgage DSR (%), by type of homebuyer—First-time homebuyers
FVI_MEDIAN_MDSR_REPEAT Repeat homebuyers Median mortgage DSR (%), by type of homebuyer—Repeat homebuyers
FVI_MTG_LTI450_FTHB First-time homebuyers Share of new mortgages (%) with an LTI ratio above 450%, by type of homebuyer—First-time homebuyers
FVI_MTG_LTI450_REPEAT Repeat homebuyers Share of new mortgages (%) with an LTI ratio above 450%, by type of homebuyer—Repeat homebuyers
FVI_MTG_LTVAVE_FTHB First-time homebuyers Average LTV ratio (%), by type of homebuyer—First-time homebuyers
FVI_MTG_LTVAVE_REPEAT Repeat homebuyers Average LTV ratio (%), by type of homebuyer—Repeat homebuyers
FVI_MTG_MDSR_GT25_FTHB First-time homebuyers Share of new mortgages (%) with a mortgage DSR greater than 25%, by type of homebuyer—First-time homebuyers
FVI_MTG_MDSR_GT25_REPEAT Repeat homebuyers Share of new mortgages (%) with a mortgage DSR greater than 25%, by type of homebuyer—Repeat homebuyers
FVI_VOL_MTG_FTHB First-time homebuyers Share of mortgaged home purchases (%), by type of homebuyer—First-time homebuyers
FVI_VOL_MTG_REPEAT Repeat homebuyers Share of mortgaged home purchases (%), by type of homebuyer—Repeat homebuyers
CSCE_2022Q4_C1_S4 Durables (e.g., cars and home appliances) NA

If we are intersted in MLS home price index, we might want to inspect the series group FSHUB_20210317_C2.

get_boc_series_group("FSHUB_20210317_C2") %>%
  mutate(name=gsub(" \\(.+\\)$","",label)) %>%
  ggplot(aes(x=Date,y=Value)) +
  geom_line(colour="steelblue",size=1) +
  geom_smooth(se=FALSE,method="lm",formula=y~1,colour="brown",size=0.5) +
  facet_wrap(~name,scales="free_y",ncol=1) +
  labs(title="MLS overview data for Canada with long-run averages",
       x=NULL,y=NULL,
       caption="Source: Bank of Canada series group FSHUB_20210317_C2")
#> Downloading BOC series group data for FSHUB_20210317_C2
#> Warning: Using `size` aesthetic for lines was deprecated in ggplot2 3.4.0.
#> ℹ Please use `linewidth` instead.
#> This warning is displayed once every 8 hours.
#> Call `lifecycle::last_lifecycle_warnings()` to see where this warning was
#> generated.

Or we might be interested in 5-year mortgage rates.

mortgate_rate_series <- list_boc_series() %>% 
  filter(grepl("mortgage rate",label)) 
#> Accessing BOC series list from cache...

mortgate_rate_series %>%
  select(-link) %>%
  knitr::kable()
name label description
BROKER_AVERAGE_5YR_VRM Estimated variable mortgage rate Estimated variable mortgage rate
WM_SAN_BILO20181003_C1_S4 5-year mortgage rate (left scale) Share of new mortgages with a loan-to-income ratio over 450 per cent
WM_SAN_FEUN20181109_C1_5Y-MR 5-year mortgage rate 5-year mortgage rate
FSR_2022_C1A_S1 5-year fixed mortgage rate NA
FSR_2022_C1A_S2 5-year variable mortgage rate NA
FVI_MTG_RATE_5Y_FIX 5-year fixed mortgage rate 5-year fixed mortgage rate (%)
FVI_MTG_RATE_5Y_VAR 5-year variable mortgage rate 5-year variable mortgage rate (%)

Taking a closer look at the 5-year fixed and estimated variable rates.

get_boc_series(c("BROKER_AVERAGE_5YR_VRM","WM_SAN_FEUN20181109_C1_5Y-MR")) %>%
  ggplot(aes(x=Date,y=Value/100,colour=label)) +
  geom_line() +
  scale_y_continuous(labels=scales::percent) +
  theme(legend.position = "bottom") +
  labs(title="Mortgage rates",
       x=NULL,y=NULL, colour=NULL,
       caption="Source: Bank of Canada series BROKER_AVERAGE_5YR_VRM, WM_SAN_FEUN20181109_C1_5Y-MR")
#> Downloading BOC series data for BROKER_AVERAGE_5YR_VRM
#> Downloading BOC series data for WM_SAN_FEUN20181109_C1_5Y-MR