By Camille Joyce Lisay US president-elect Donald Trump has issued a bombshell warning to impose a 25% tariff on all products entering the country from Canada and Mexico starting on the first day of his new administration. In a post on his social media platform Truth Social on...
The Canadian Press The national banking regulator says it will no longer require borrowers with uninsured mortgages to undergo a stress test when switching providers. The Office of the Superintendent of Financial Institutions says it will end the policy for lenders to apply the minimum qualifying rate...
By Srushti Gangdev The BC Real Estate Association is calling for a measured approach to the clamp-down on short-term rentals as the provincial election approaches. The association says it conducted an analysis to identify business and tourism sectors affected by the change. Association Vice President Trevor Hargreaves tells 1130...
By Sammy Hudes Experts say Ottawa’s changes to mortgage rules could help spur demand among potential homebuyers, but supply challenges are likely to persist in Canada’s real estate sector despite lofty goals to build new housing. The federal government’s changes, set to come into force mid-December, include a...
By Craig Lord Global News 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...
By Fergal McAlinden 20 Aug. 2024 Canada’s annual inflation rate fell to 2.5% in July, its slowest pace for over three years, in a development that likely copper-fastens another Bank of Canada interest rate cut next month. Statistics Canada data on Tuesday morning showed that the headline...
By Fergal McAlinden 25 Jul. 2024 The Bank of Canada lowered interest rates yesterday for the second time in 2024 – and another cut is probably on the way in September, according to Canadian Imperial Bank of Commerce (CIBC) deputy chief economist Benjamin Tal (pictured). The central...
By Fergal McAlinden 01 Aug. 2024 Improving housing affordability was top of the list of priorities for Canada’s federal government in its 2024 budget, unveiled in April – and the administration has moved ahead with a key plank of that platform, the extension of amortization periods...
Story by Amy Legate-Wolfe It finally happened. After four years of waiting and seeing rates climb higher and higher, the Bank of Canada finally cut its benchmark interest rate by 25 basis points this week. This was the first reduction in over four years, bringing the...
By Candyd Mendoza The Bank of Canada (BoC) can cut interest rates independently of the US Federal Reserve, even if the Fed holds rates steady, TD Bank said in its latest economic outlook. According to the bank, the Canadian economy has been growing below its trend rate...