Canada's Mortgage Rates Are Coming Down, With Record Lows For 10-Year Loans

MONTREAL — There’s a little bit of good news out there for Canada’s increasingly stressed-out homebuyers: The pressure from rising mortgage rates is ramping down, at least a little. In the latest sign, HSBC has cut its rate on a fixed, 10-year mortgage to 3.24 per cent, while two...

Facebook Co-Founder Says Company Is 'Dangerous,' Should Be Broken Up

Facebook founder and CEO Mark Zuckerberg wields an unprecedented amount of power and his “dangerous” company must be broken up by government regulators, according to a co-founder of the social media giant. Chris Hughes, who helped launch Facebook out of a Harvard University dorm room he shared with Zuckerberg...

Bank Of Canada Lists Climate Change As Key Threat To Economy

OTTAWA—The Bank of Canada is highlighting its expanding concerns about climate change and, for the first time, is listing it among the top weak spots for the economy and the financial system. The central bank’s financial system health report Thursday included climate change as an important vulnerability, elevating it...

Vancouver Housing Market Not Even Among The Top 5 In Canada Anymore

Remember when Vancouver used to top the lists of the world’s hottest housing markets? Well, these days it’s pretty much the opposite. There were 1,552 home sales in Greater Vancouver in April, in seasonally adjusted terms, a drop of more than 29 per cent from a year earlier. The...

Trudeau: Notre Dame Can Be Rebuilt With Canadian Steel, Wood

PARIS —Canada is offering softwood lumber and steel to help with the reconstruction of Paris’s famed Notre Dame Cathedral, Prime Minister Justin Trudeau said Wednesday after touring the iconic monument that was partially destroyed by fire in mid-April. Not long after arriving in Paris, Trudeau visited Notre Dame alongside...

Andrew Scheer Says He Wants To Scale Back Canada's Mortgage Stress Test

Changes to Canada’s mortgage stress test could be coming, depending on the outcome of the October federal election. Official Opposition Leader Andrew Scheer says he’s “absolutely committed” to reviewing the stress test that policymakers introduced in January 2018 — though that hinges on the head of the federal Conservative...

IEA Report Finds Canadians Are World's Biggest Gas Guzzlers

Canada’s drivers emit the most carbon per kilometre driven in the world, and it’s due to our taste for SUVs and pickup trucks, according to research from the International Energy Agency (IEA). An IEA study released earlier this spring found that the passenger vehicles on Canada’s roads emit 206...

Why Canada Stands Out As A Money Laundering Haven

News that some $5 billion was laundered through British Columbia’s real estate market in 2018 comes as no surprise to experts, as Canada’s weak money-laundering laws make it an attractive spot to park ill-gotten cash. Kevin Comeau, author of a recent C.D. Howe report on money laundering, says people...

Money Laundering In B.C. Drove Up Home Prices By 5% In 2018: Report

VICTORIA — A report that estimates $5 billion was laundered through British Columbia’s real estate market last year also lifts the lid on the extent of illegal cash moving across Canada. Some $7.4 billion overall was laundered in B.C. in 2018, out of an estimated total of $47 billion...