Business

  • Mortgage Fraud May Be A Problem Among Canada’s Millennials, Survey Suggests Rising house prices and intense social pressure to own a home may be damaging young Canadians’ moral fibre, convincing them that it’s OK to lie on mortgage applications, a new survey from Equifax suggests. The credit rating agency found that 23 per cent of millennials feel it’s acceptable to lie about ...
  • Gas Prices Drop, Food Prices Soar In June, Statistics Canada Says Canada’s price picture softened to two per cent last month following a sharp drop in gasoline prices compared to a year ago. The annual inflation number for June hit the Bank of Canada’s ideal target as it came down from 2.4 per cent in May, Statistics Canada said Friday in ...
  • Canada’s First-Time Home Buyer Incentive Could Backfire, U.K.’s Experience Shows The federal government’s new plan to help homebuyers could loosen the country’s housing supply crunch and help more Canadians get onto the property ladder ― but it could also worsen affordability and mean a new financial risk for the country’s government-run mortgage insurer. The federal government on Monday announced details ...
  • Justin Trudeau Credits Immigration For Canada’s High-Tech Success Prime Minister Justin Trudeau says immigration is a significant reason why Canada’s technology sector has been thriving. The prime minister was the first keynote speaker at a technology conference in Toronto. This is the first time the event, called Collision, is being held in Canada and organizers are calling it North ...
  • Canada’s Mortgage Stress Test ‘Sidelined’ 40,000 Homebuyers: TD Bank If there is a single reason why Canada’s real estate industry has been complaining so loudly about the country’s mortgage “stress test,” new research from economists at TD Bank points straight to it. The test for uninsured mortgages, introduced in January of 2018, “sidelined” 40,000 potential home purchases in its ...