Author : Megan

TD: Dollars and Sense: Ready… Set… Cut! Cut! Cut! Report by TD Economics Highlights The Federal Reserve is just under three weeks away from delivering its first interest rate cut in four years. While at times it felt like the day would never come, inflation has finally stabilized close to the 2% target alongside a […]

The Bank of Canada has lowered its benchmark interest rate by 25 bps to 4.25%. This is the Bank’s third rate cut since March 2020. Read the full statement here: https://www.bankofcanada.ca/…/fad-press-release-2024…/ The next BoC announcement is October 23.

Bank of Canada reduces policy rate by 25 basis points to 4½% The Bank of Canada on July 24th reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. The global economy is expected […]

BMO: Canadian Housing: Migration Matters

Canada: Still sluggish home sales allow inventory to recover Home sales edged down 1.7% between March and April, a second monthly decrease in five months. On a provincial level, decreases were recorded in April in Nova Scotia (-6.3%), Alberta (-4.5%), Manitoba (-4.1%), Ontario (-2.9%), Quebec (-1.3%), P.E.I. (-0.6%), and B.C. (- 0.5%). On the other […]

Federal Budget Summary: Housing and Capital Gains Tax TD Economics Budget 2024 re-upped the Liberal government’s efforts to improve affordability for low-and-moderate income Canadians, with new spending totaling $53 billion earmarked over the five-year horizon ($57 billion including spending since the Fall Economic Statement). Programs to fast-track the building of new homes and improve affordability […]

Equifax: Helping Protect Seniors From Fraud and Identity Theft While identity theft and fraud can strike people of all ages, senior citizens may be particularly vulnerable.  Fraud is the top crime against older Canadians, according to the intergovernmental Federal/Provincial/Territorial Ministers Responsible for Seniors. Reasons for that may include that seniors may be home more often during […]

CMHC announced on March 1 that The First-Time Home Buyer Incentive program will be ending The deadline for submitting new or updated applications for the First-Time Home Buyer Incentive is March 21, 2024, at midnight ET. No new approvals will be granted after March 31, 2024. Initially designed to alleviate the burden of monthly mortgage […]

Consumers Give a Little Love with Year-End Purchases According to the latest TD Spend data, consumer notably loosened their purse strings, possibly swayed by the holiday spirit and warm weather. Spending during the last three months of the year grew on average by 0.7% month-over-month.  This change in spending dynamic helped the year finish on […]

Missed Payments and Financial Strain Are Increasing for Many Canadians, Credit Card Debt Continues To Rise Total consumer debt in Canada stood at $2.4 trillion in Q3 2023, an increase of $80.9 billion from the same period last year, according to Equifax® Canada’s latest Market Pulse Consumer Credit Trends and Insights report. Despite the impact […]