Year-over-year inflation in the United States reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the U.S. Department of Labor showed that consumer prices rose just … Read more
Mortgage debt grew at its slowest pace in 23 years in February, amid high borrowing costs and reservations related to the Bank of Canada’s key interest rate — but the slowdown likely won’t last, according to Canada’s housing agency. Canadian mortgage debt totalled $2.16 trillion that month, up 3.4 per cent from the same period last year — a historically low … Read more
January home sales jumped 22 per cent compared with a year ago, the largest year-over-year increase since May 2021, according to The Canadian Real Estate Association. The association says the increase reflected weakness last year, which saw the worst start to almost any year in the past two decades. Home sales in January 2024 were … Read more
2/1: Prime Time with John Dickerson – CBS News Watch CBS News John Dickerson reports on an atmospheric river bringing heavy rain to California, how a U.S. plan to sanction Venezuela could affect deportations, and how much the White House can do to tame housing costs. Be the first to know Get browser notifications for … Read more
It’s been a long time since economic data in Canada showed very much promise. The last 18 months have been defined by a cost of living crisis and a slowing economy. But a handful of economic indicators give us some hope for 2024. Inflation has slowed dramatically, and the economy didn’t actually slip into recession. … Read more
Nikkie Miranda feels stuck and frustrated, weighing what she’ll have to sacrifice when her rent increases again this winter. Three years ago, when she moved into a two-storey, three-bedroom semi-detached home in southwest Edmonton, Miranda paid $1,650 per month in rent. Her rent later increased to $1,800 and will go up again to $1,950 when … Read more
For a third straight time, the U.S. Federal Reserve kept its key interest rate unchanged Wednesday, as it signalled its expectations to make a series of quarter-point cuts to the benchmark interest rate next year. Those envisioned rate cuts — which wouldn’t likely begin until the second half of 2024 — suggest officials think high borrowing rates … Read more
