Soaring inflation has Canadians bracing for more financial turbulence: Angus Reid
Amidst skyrocketing costs of living and housing, mistrust towards Bank of Canada rises, too
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Mortgage
Record-setting year for residential construction industry: CHBA report
The Canadian Home Builders’ Association (CHBA) has released its annual report on the performance of Canada’s residential construction industry, which according to the association, details a record-setting year for the industry in its…
Inflation skyrockets to highest level in nearly 40 years as gas prices soar
OTTAWA – Soaring gas prices helped the annual inflation rate in May soar to its highest level in nearly 40 years, as the rising cost of living for Canadians squeezed household budgets and bolstered expectations the Bank of Canada will opt…
Alberta housing starts rebound to 2015 levels as oil prices surge
CALGARY – Alberta's cities are once again abuzz with the sound of hammers and saws as surging oil prices fuel a fresh building boom in the province.According to Statistics Canada, housing starts in Alberta, seasonally adjusted at an…
Freeland leaves the door open to further action to address economic volatility
TORONTO – The federal government is prepared to take further action to address more severe economic volatility, but Finance Minister Chrystia Freeland wouldn't say if a hard landing for Canada's housing market would be the trigger for…
May home sales down 22% since last year, 9% from April: CREA
Canada's housing market continued to cool last month with the country's real estate association finding home sales dropped by nearly 22 per cent since last year and almost nine per cent between April and May.The Canadian Real Estate…
Key household debt to income ratio down in Q1 as income rises faster than debt
OTTAWA – Statistics Canada says the amount Canadians owe relative to their income pulled back in the first quarter from the record level set in the fourth quarter of 2021 as incomes grew faster than debt.The agency says, on a…
Bank of Canada says economy can handle higher rates despite household debt risks
High household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said…
Bank of Canada says household debt and home prices key risks for financial system
OTTAWA – The Bank of Canada said vulnerabilities from high household debt and elevated housing prices have increased and pose key risks to the Canadian financial system.In its latest financial system review, the central bank said…
Study finds non homeowners are pessimistic about buying homes despite cooling prices
TORONTO – A new study conducted by Chartered Professional Accountants of Canada (CPA Canada) finds that Canadians who don't own homes think home ownership remains far out of reach despite prices cooling slightly across the country.…