Toronto is the safest place to live in Canada, according to a new survey by Money.ca. The analysis – which looked at the prevalence of incidents involving arson, burglary, robbery, and impaired driving – culled data from the Canadian Crime Index. The study found that based on the number of offenses per 100,000 people, Toronto […]

Bank of Canada governor Tiff Macklem has said interest rates may be high enough to continue taming inflation in remarks that suggest the central bank could be at the end of its rate-hiking path. Macklem told an audience at New Brunswick’s Saint John Region Chamber of Commerce on Wednesday that a sluggish economy, set to […]

Today’s inflation report showed a continued improvement, mainly due to falling year-over-year (y/y) gasoline prices. The October Consumer Price Index (CPI) rose 3.1% y/y, down from the 3.8% rise in September. There were no surprises here, so markets moved little on the news. Excluding gasoline, the CPI rose 3.6% in October, compared to 3.7% the […]

Canada’s inflation rate fell to 3.1% in October, still above the Bank of Canada’s target rate but down notably from its September reading of 3.8%. That slowdown was caused mainly by plummeting gas prices, with the cost of fuel at the pump falling by 7.8% compared with the same time last year. When gas price […]

Sticky inflation could prove to be a motivating force for the Bank of Canada to cut interest rates, according to Canadian Imperial Bank of Commerce (CIBC). This is despite factors like high oil prices looking increasingly unlikely to persist. “Oil prices have already reversed course, as fears of a wider Middle East conflict haven’t offset […]

September-to-October real estate data indicated that Canada has seen a marked improvement in housing affordability, a new analysis by Ratehub.ca suggests. Ratehub, which calculated the minimum annual income required to buy an average home in some of Canada’s major cities, found that affordability has improved in eight of the 10 urban markets studied. “Home prices […]

Home sales in October across Canada’s housing market fell by 5.6% over the previous month – but the national average home price is now 1.8% higher than the same time last year, at $656,625. New figures released by the Canadian Real Estate Association (CREA) showed that the number of homes sold last month ticked slightly […]

Canada’s central bank will have to cut interest rates faster and further than markets expect to get ahead of a wave of mortgage maturities that threaten a fifth of the country’s discretionary income, according to economist David Rosenberg. The Bank of Canada will be forced to cut 2 percentage points from its policy rate over […]

Underlying risks in Canada’s mortgage market are becoming more evident as borrowers face the sharpest spike in interest rates for over four decades, the national housing agency has said. Tania Bourassa-Ochoa (pictured), senior specialist of housing research at Canada Mortgage and Housing Corporation (CMHC), told Canadian Mortgage Professional that the agency’s just-released residential mortgage industry […]

A wave of mortgage renewals at significantly higher borrowing costs than the initial contract rate is looming – and that’s a reality that could pose significant tail risks to Canadian banks, according to Royal Bank of Canada (RBC). A recent report by the banking giant, authored by capital markets analyst Darko Mihelic, indicated that around […]