Canada’s real estate market kept showing strong activity last month, with home prices growing by almost 20% annually and the sales reaching another monthly record. According to the Canadian Real Estate Association (CREA), there were 58,645 homes sold in August, marking a 33% hike...

During the previous several weeks, Prime Minister Justin Trudeau’s government has been working on a new plan for economic recovery. Media reported that a guaranteed basic income is on the list of 50 resolutions under discussion, and it’s expected to be discussed at a...

During the first half of 2020, the situation with the national household indebtedness has improved due to government’s support measures. According to Statistics Canada, the household credit market debt was down from 175.4% to 158.2% in Q2. The main reason for that is an...

According to the recent report by the Canada Mortgage and Housing Corporation (CMHC), more than three-quarters of a million homeowners have deferred or missed a mortgage payment during the COVID-19 pandemic. As a result, the total amount of monthly mortgage payment deferrals reached about...

On Wednesday, the Bank of Canada kept its key lending rate unchanged and reiterated its commitment to provide the current level of borrowing costs until excess capacity is absorbed. The BoC’s Governor Tiff Macklem said the Bank will keep the interest rate at 0.25%...