Rents are still rising across Canada, but doing so at their slowest pace in the last 2½ years, according to a report released Wednesday by Rentals.ca and Urbanation. The national rent report data says asking rents for all residential property types averaged $2,201 in July, up 5.9 per cent from last year. The data is based … Read more
A Conservative MP apologized in the House of Commons on Thursday after an Indigenous colleague from across the political aisle called him out for linking an offender’s criminal record to his race. Brad Redekopp says he misspoke earlier this week when he brought up the 2022 mass stabbings in Saskatchewan during a debate about measures … Read more
Canada’s banking regulator says real estate secured lending and mortgages are among the top risks the country’s financial system is facing, as higher interest rates pressure borrowers. In its annual risk outlook, the Office of the Superintendent of Financial Institutions )OSFI) said as homeowners renew their mortgages, they could potentially face a payment shock due to … Read more
The annual rate of housing starts in Canada fell slightly by one per cent compared with March 2024, while the number of residential home sales dropped in the same period of time, according to separate sets of numbers released today by the Canada Mortgage and Housing Corporation (CMHC) and the Canadian Real Estate Association. The CMHC, … Read more
Consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023, Equifax Canada said. The fourth quarter saw a continuation of what’s been happening for a while now as the impacts of higher interest rates and inflation continue to weigh on consumers, said Rebecca Oakes, vice-president … 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
