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Source: Financialpost July 27, 2024

Why brighter days are ahead for mortgage shoppers

Robert McLister: Millions of Canadians have suddenly found more wiggle room in their budgetsDespite an increasingly sketchy unemployment picture, the forecast is slowly getting brighter if you’re a borrower or home buyer. We apologize, but this video has...

Source: Financialpost July 26, 2024

Bank of Canada switches to 'risk management' mode

Watch TD Bank economist Derek Burleton on how lower interest rates could come quicker than we thoughtDerek Burleton, deputy-chief economist for TD Bank Group, talks with the Financial Post’s Larysa Harapyn about how the Bank of Canada may have to cut interes...

Source: Financialpost July 26, 2024

Banks lower prime rates in line with Bank of Canada rate cut

All of the big six banks moved their prime rates to 6.70% from 6.95%Canadian financial institutions say they are lowering their prime lending rates to match the decrease announced by the Bank of Canada. We apologize, but this video has failed to load. Tr...

Source: Financialpost July 26, 2024

Gap narrows between variable and fixed-rate mortgages after Bank of Canada rate cut

Robert McLister: Three year fixed rate mortgages still the best valueFollowing the Bank of Canada’s latest rate slash, most lenders have trimmed their variable rates by a quarter point. This means the leading variable rates are now a mere 86 basis points abo...

Source: Financialpost July 26, 2024

CEO in hot water with CRA after misunderstanding RRSP, pension plan rules

Taxpayer hit with penalty for overcontribution after failing to appreciate the one-year lagReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this...

News Source: Financialpost July 26, 2024

Bank of Canada governor Tiff Macklem says the central bank's 'balance of worries is shifting'

In an exclusive interview with the Financial Post, Macklem explains how the worry now is inflation falling too farThe Bank of Canada began its rate-hiking cycle just over two years ago to fight a growing inflation problem, which, while not over yet, is endin...

Economy Source: Financialpost July 26, 2024

Both GDP and GDP-per-capita important to consider as population grows, says Macklem

Canada’s growth per person has declined in six of the past seven quarters Get the latest from Naimul Karim straight to your inbox Sign Up Canada may not technically be in a recession, but some economists argue the country’s declining per-capita output...

Source: Financialpost July 25, 2024

Opinion: Canadians are tired of Ottawa’s over-taxing and high spending

Ottawa could balance its budget simply by sticking to its spending plan of two years ago. It should do that, then cut taxesThe Trudeau government is like a band that only knows one tune: more spending/higher taxes. We apologize, but this video has failed...

Source: Financialpost July 25, 2024

September 'very much on the table': What economists say about Bank of Canada rate cuts

Two more cuts expected this yearAs the Bank of Canada cut its interest rate for the second time in this cycle Wednesday, economists remained confident more reductions are on the horizon. The central bank’s decision to trim its key policy rate to 4.5 per cent...

Source: Financialpost July 25, 2024

How Bank of Canada's rate cut will affect real estate markets, according to experts

Some experts say it's not enough to help homebuyersOn Wednesday, the Bank of Canada cut its benchmark interest rate by 25 basis points for the second time this year, bringing it down to 4.5 per cent, its lowest since April 2023. The move was widely expected...