Canadian homeowners continue to face risks from a looming shock in mortgage renewals, even as the Bank of Canada lowers its benchmark interest rate, a report released Monday warns. The Canada Mortgage and Housing Corp. (CMHC) said Monday that the mortgage delinquency rate — the proportion of Canadians who have missed payments on their mortgage
The Bank of Canada delivered an oversized interest rate cut of half a percentage point on Wednesday, focusing now on boosting the Canadian economy amid signs inflation is well under control. The central bank’s policy rate now stands at 3.75 per cent. Wednesday’s decision is the fourth consecutive drop in interest rates since June and
After proceeding at a tentative, 25-basis-point cut pace in the first three interest rate cuts of its cycle, many economists expect the Bank of Canada will take an oversized step lower in its upcoming decision on Wednesday. The central bank’s policy rate stands at 4.25 per cent following the most recent quarter-point cut in early
The annual rate of inflation slowed sharply in September, falling below the Bank of Canada’s two per cent target, Statistics Canada reported Tuesday. Annual inflation was 1.6 per cent in the month, down from two per cent in August, thanks largely to continually lower gasoline prices, the agency said.The yearly price pressures are now at
Cineplex Inc. says it will appeal a record $38.9 million fine for deceptive marketing practices imposed by the Competition Tribunal. The fine was embedded in a decision the tribunal issued late Monday that saw it side with the Competition Bureau in a case stretching back to May 2023. That was when the watchdog accused Cineplex
Inflation is back at the coveted two per cent annual rate. Wage hikes have outpaced inflation for 19 months in a row.The Bank of Canada is three rate cuts into an easing cycle, with no signs of stopping anytime soon.The recent run of positive economic news had the Liberal government — long challenged by an
The U.S. Federal Reserve’s 50-basis-point interest rate cut on Wednesday is having ripple effects north of the border, with experts pointing to implications for both the Bank of Canada and Canadian mortgage holders. The Fed delivered an oversized step for its first interest rate cut in four years, a move that surprised many economists who
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,”
Three interest rate cuts in, the Bank of Canada is now firmly entrenched in an easing cycle that has major implications for where Canadians’ money can earn them the best returns. The shift from interest rate hikes to cuts warrants a “refresh” of Canadian portfolios, investment experts tell Motorcycle accident toronto today.“I think any time you see
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