Proposed changes to remove price caps and extend amortizations on insured mortgages will help renters break into the ownership market, Ottawa argues, but experts are raising flags about the impact on home prices. Proposals unveiled Monday, which one expert called “some of the most significant mortgage policy reforms that we have seen in many years,”…
The Bank of Canada is set to get a fresh look at inflation figures this week as some economists expect another big step towards the central bank’s two per cent target. Statistics Canada will release consumer price index figures for August on Tuesday, coming off July when the annual rate of inflation cooled to 2.5…
A new report says August rental rates fell in some of Canada’s largest and priciest markets to continue a months-long trend, while prices rose in smaller markets. The report from Rentals.ca and Urbanation finds the average Vancouver rental rate was down six per cent from last year to $3,116 for the ninth straight month of…
The national unemployment rate ticked higher again in August as the labour market continues to cool, prompting some economists to wonder if the Bank of Canada should be cutting interest rates faster. Statistics Canada said Friday that the unemployment rate rose to 6.6 per cent, up from 6.4 per cent the month before, amid a…
Some long-unaffordable pockets of Canada’s housing market could open up to first-time homebuyers this fall as interest rates decline but experts expect prices will hold relatively flat. Activity in the Canadian housing market has largely been muted through much of the spring and summer despite the start of rate cuts from the Bank of Canada,…
The Bank of Canada lowered its key interest rate by 25 basis points on Wednesday and opened the door to bigger cuts if the economy slows more sharply in the months ahead. The third consecutive rate cut was widely expected by economists and brings the central bank’s benchmark interest rate to 4.25 per cent. Wednesday’s…
The Biden administration is close to announcing it will block Nippon Steel’s acquisition of U.S. Steel, two sources familiar with the situation said on Wednesday, amid growing bipartisan political opposition to the US$14.9 billion deal. The panel that is reviewing the proposed merger for national security reasons has not sent its recommendation to the president,…
Canadian families are still strapped for cash even as inflation cools and interest rates start to trend lower, new polling released Wednesday suggests. Ipsos polling conducted exclusively for Global News shows that it’s often kids who are feeling the pinch from the rising cost of living. The survey, which polled more than a thousand Canadians…
The Bank of Canada is widely expected to deliver a third consecutive interest rate cut on Wednesday as inflationary forces continue to cool on both sides of the Canada-United States border. Markets are also calling for the U.S. Federal Reserve to start its own easing cycle later this month, a move that economists tell Global…
An Equifax Canada report says missed credit payments were higher among younger Canadians in the second quarter due to living costs and unemployment. Equifax says one in every 17 Canadians aged 26-35 missed a credit payment, compared with one in 23 overall. The report says delinquency rates for auto loans and lines of credit were…
