Homebuilding in Canada is slowing down just as policymakers are trying to pick up the pace. The rapid surge in interest rates over the last year is starting to throttle the pace of homebuilding, the Canada Mortgage and Housing Corp. (CMHC) warned in a new housing supply report Wednesday.As the Bank of Canada’s interest rates
Editor’s note: A previous version of this story incorrectly identified Galen G. Weston as CEO of Loblaw. He is the company’s president, as well as CEO and president of Loblaw’s parent company, George Weston Limited. Galen G. Weston, the public face and top executive behind the Loblaws grocery chain, will step down from his role
Some Canadians have not received their entitled tax credit payments due to a “technical issue,” according to the Canada Revenue Agency. The CRA said the issue is affecting payouts of the GST/HST credit and the Ontario Trillium Benefit to some taxpayers.The agency said in a statement to Motorcycle accident toronto today on Monday that it expects fewer
Despite a sizeable drop in home prices over the past year and a slew of federal government measures aimed at addressing housing affordability, a new poll suggests Canadians are no more encouraged about breaking into the housing market. Some 63 per cent of Canadians who don’t own a home have “given up” on ever owning
Two years after it was first announced, Rogers Communications Inc.’s takeover of Shaw Communications Inc. is complete. Days after the transaction received final sign-off from Industry Minister Francois-Philippe Champagne, Rogers and Shaw made it official: two major Canadian telecom companies are now one, with a fourth player set to expand to the national stage in
Insolvency trustee Doug Hoyes encounters a lot of Canadians with money troubles, but he’s become particularly sympathetic to the plight of young people who find themselves financially underwater. For more than a decade, his Ontario-based firm Hoyes Michalos has been crunching bankruptcy and insolvency numbers for its annual “Joe Debtor” analysis, with its latest results
A new savings vehicle for Canadians saving towards their first home purchase will technically be available starting April 1, but financial institutions who spoke to Motorcycle accident toronto today say they won’t be ready to offer the account on that date and Ottawa offered no timeline for when deposits might start flowing. The Tax-Free First Home Savings
The fallout from the collapse of Silicon Valley Bank has spread to the Canadian mortgage market, with some forecasters now expecting the Bank of Canada to cut interest rates sooner than previously thought. But some experts say that while the recent shakeup in financial markets could drive fixed-rate mortgage rates lower in the near term
Descrease article font size Increase article font size Zellers has confirmed its comeback date at select locations starting in Ontario and Alberta. The nostalgic discount retailer will return as an online and pop-up experience within existing Hudson’s Bay Co. stores starting March 23.Hudson’s Bay said Tuesday that the Zellers relaunch will include kitchen and bath
The swift collapse of Silicon Valley Bank (SVB) has sent aftershocks through the global financial system and Canada is not immune from the impacts. The Toronto-based branch of the startup-focused financial institution was temporarily seized by Canada’s banking regulator on Sunday night as Finance Minister Chrystia Freeland echoed her American counterparts in calling for calm