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Posted by: Dean Kimoto
The Liberal plan to give first-time homebuyers a tax break on a newly built home could have substantial impacts on housing affordability — with a few caveats — a new analysis finds. The Liberal government introduced legislation on June 5 to eliminate the GST portion from new home sales of up to $1 million for […]
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The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. Since the April Monetary Policy Report, the US administration has continued to increase and decrease various tariffs. China and the United States have stepped back from extremely high tariffs and […]
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Quick Takes: On Friday, May 16th, the U.S. lost its final AAA debt rating. Canada’s AAA looks secure; net debt is 14% of GDP versus about 102% in the United States, interest costs absorb 9% of revenue compared with roughly double that south of the border, and Ottawa’s large pension assets keep every agency metric […]
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Non-bank lenders saw a continued move toward uninsured mortgages in Q4, alongside a steady rise in delinquencies. Non-bank mortgage lenders continued to see steady growth in Q4 2024, but the pace has slowed sharply compared to the boom years of 2021 and 2022, according to the latest figures from Statistics Canada. Interest rates, delinquency trends […]
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With markets nearly split—pricing in a 40% chance of a rate cut and a 60% chance of a hold—the Bank of Canada’s upcoming rate decision on Wednesday is still very much up in the air. And with fresh inflation data landing just one day before the announcement, Tuesday’s CPI report could be what ultimately tips […]
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A new report says the national average asking rent in March was $2,119, marking the sixth straight month of year-over-year declines. By Sammy Hudes The monthly data provided by Rentals.ca and Urbanation, which analyzes listings in the former’s network, says rents were down 2.8% last month compared with March 2024. On a month-over-month basis, rents […]
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Spring mortgage season is bringing better fixed-rate deals, but not all borrowers are seeing relief. While lenders continue trimming fixed rates, discounts on variable rates are shrinking. If you’re in the market for a mortgage this spring, you’ve probably noticed fixed rates are continuing to trend lower. That’s thanks in large part to falling bond […]
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Canadian Inflation surged to 2.6% in February, much stronger than expected. The Consumer Price Index (CPI) rose 2.6% year-over-year (y/y) in February, following an increase of 1.9% in January. With the federal tax break ending on February 15, the GST and HST were reapplied to eligible products. This put upward pressure on consumer prices for those items, as taxes paid by consumers […]
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US president vows massive retaliation to Ontario energy tariffs, repeats annexation threats Donald Trump’s trade war continued to roil financial markets on Tuesday as the US president announced he was doubling tariffs on Canadian steel and aluminum and vowed massive further retaliation against Canada for Ontario’s electricity surcharge. The S&P 500 slid to a six-month […]
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President Donald Trump has officially confirmed that tariffs on Canadian and Mexican imports will go into effect on March 4, 2025, following his comments earlier this week suggesting a delay. Trump plans to impose a 25% tariff on imports from Mexico and Canada, while applying a reduced 10% tax on Canadian energy products, including oil […]
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