Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages outstanding saw a sizeable increase. Canada Mortgage and Housing Corporation (CMHC), the national housing agency, said in the latest edition of its Residential Mortgage Industry Report […]

Further interest rate hikes from the Bank of Canada are very much still on the table as its governing council remains split on whether rates may need to rise further. The central bank on Wednesday released its summary of deliberations detailing the discussions governing council members had in the lead-up to its Oct. 25 rate […]

The Canadian economy is showing continued signs of slowing as inflation decelerates. This opens the door for a continued pause in rate hikes. Indeed, with any luck, the Bank might have finished its tightening cycle. One more rate hike is possible, especially if continued Middle East tensions lead to a sustained oil price increase, but […]

We Canadians are no strangers to the chill of the winter season! As we shift into the final few months of 2023, now is a great time to check your home before the cold front hits. Below I have included a few tips that could help you save on bills, prevent future repair costs, and […]

Is your mortgage coming up for renewal? Do you know about all the incredible options renewing your mortgage can afford you? If not, I have all the details here on how to make your mortgage renewal work for you as we start to think about 2024. Get a Better Rate Are you aware that when […]

oday’s StatsCanada Labour Force Survey for October was weak across the board. Total job gains were meagre, full-time jobs fell, hours worked were flat, wage inflation eased (a bit), and the unemployment rate rose. Employment changed little in October, up only 17,500 (0.1%), after rising 64,000 in September and 40,000 in August. The employment rate—the proportion of […]

Canada’s unemployment rate ticked higher in October, rising to 5.7% as the national economy continued to cool. New figures released by Statistics Canada showed that the labour market added 18,000 jobs last month in a clear sign that the Bank of Canada’s efforts to tap the brakes on economic growth are having an impact. The […]

During the spring, the Bank of Canada’s decision to hit pause on interest rate hikes helped trigger something of an unexpected resurgence for the national housing market, with buyers stepping off the sidelines as rates finally stopped climbing. In May, an RBC report indicated that the spring months were beginning to look like a “turnaround […]

Scotiabank head gives his verdict. Declarations that Canada is in a recession after the release of preliminary third-quarter gross domestic product data — which pointed to a second straight quarter of contraction — are “premature,” according to a top economist. Derek Holt, head of capital markets economics at the Bank of Nova Scotia, argued that […]

Younger Canadians tend to be more worried about their personal debt levels amid progressively higher costs, according to a recent Equifax Canada poll. Approximately 52% of respondents in the 18-34 age range reported anxiety about their personal debt levels, a markedly higher share than the overall average of 39% of other respondents, Equifax said. More […]