Bank of Canada hikes interest rate to 2.5% -biggest jump since 1998 Social Sharing
Canada’s central bank raised its benchmark interest rate by a full percentage point to 2.5 per cent. That’s the biggest one-time increase in the bank’s rate since 1998.
Statistics Canada says economy added 55,000 jobs in December, unemployment rate 5.9%
The Canadian economy added 55,000 jobs in December before COVID-19 cases began spiking at the end of the month, prompting public health restrictions that forced many businesses to close or curtail operations.
Report says tax on $1M+ homes could be key to making housing more affordable
An annual surtax on houses valued over $1 million could help reduce housing inequality and cool housing markets, a report says.
Toronto home sales lead to record 2021 despite weaker December
A resurgence in demand for Toronto homes contributed to record residential real estate sales and prices in 2021 despite a dip in December.
A Toronto mall around for over five decades will be completely demolished
Toronto’s brick-and-mortar retail landscape has suffered immensely with the rise of online shopping and exponentially more during the pandemic, and it looks like the thirst for new housing could soon bring about the end of a shopping mall that’s been a North York staple for over a half-century.
Ontario condo developer suddenly cancels years-long sales deal – unless buyers pay $100K more
The foundation has been poured for Soraya Palma’s first home and she’s paid most of the deposit. But the 29-year-old says she now has no choice but to walk away from the Barrie, Ont., development.
August home sales down, prices up as supply fell 43%
August home sales slowed from the frenzied pace seen earlier in the year, but market conditions have tightened as supply plummeted by 43 per cent and prices rose yet again
Liberals promise helping hand to first-time homebuyers through loans, grants
Liberal Leader Justin Trudeau says a re-elected Liberal government would help renters become homeowners through $1 billion in loans and grants.
Conservatives propose ‘tax holiday’ for GST in December to lower costs, spur spending
The federal Conservatives are proposing a “holiday” on the federal goods and services tax in December to boost retail spending, but experts question whether it’s an effective use of government dollars.
U.S. Housing Boom Rescues More Than 1 Million ‘Underwater’ Homes
The pandemic housing boom has pulled more than 1 million U.S. homeowners out of a debt trap that many had been stuck in since the great financial crisis more than a decade earlier.