Source: Tara Deschamps The Canadian Press, globalnews.ca, November 17, 2021 A rise in both mortgage and interest rates would end an almost two-year period of rock-bottom borrowing costs. Canadians are scrambling to get mortgage pre-approvals and rate holds before the era of low interest rates comes to an end, as some economists predict. Real estate… Continue reading Mortgage Pre-approvals Rate Hikes Looms
Tag: inflation
What the Hike in Interest Rates Means for Variable and Fixed Mortgage Rates
The Bank of Canada (BoC) has announced it’s keeping its trend-setting interest rate on hold for now, but borrowing costs for many Canadians are likely going up. Canada’s central bank has mentioned it is holding its key interest rate at 0.25 per cent, where it has been since March of 2020, hinting instead, that the first interest rate hike… Continue reading What the Hike in Interest Rates Means for Variable and Fixed Mortgage Rates
Canadian National Railway Q3 Profits Hit $1.69 Billion
Source: Ross Marowits The Canadian Press, October 20, 2021 Revenues increased 5.3 per cent to $3.59 billion, up from $3.41 billion. Canadian National Railway Co.’s embattled CEO is retiring in the new year, the railway says as it reported a big jump in third-quarter profits thanks in part to a $770-million after-tax break fee it… Continue reading Canadian National Railway Q3 Profits Hit $1.69 Billion
Global Supply Chain in Crisis
Source: Anne Drewa, globalnews.ca, September 28, 2021 In addition to delays, consumers can expect to pay more for goods as the supply chain crisis continues. Global shipping disruptions from container shortages to shipping backlogs have retailers warning consumers to start holiday shopping early. “If you see it, grab it because if you are waiting it… Continue reading Global Supply Chain in Crisis
Minimum Wage in Saskatchewan is $11.81 Effective October 1st
On October 1st, the province’s minimum wage will increase to $11.81 per hour. This increase was announced in June 2021. This is the 13th increase to the minimum wage, for a total increase of over 48 per cent, since 2007. Every year Saskatchewan’s minimum wage is calculated using an indexation formula that gives equal weight… Continue reading Minimum Wage in Saskatchewan is $11.81 Effective October 1st
Canada’s Inflation Rate Highest Since 2003
Source: Jordan Press The Canadian Press, globalnews.ca, September 16, 2021 Elevated readings may continue for months because of sustained pressure on energy, food and home prices. Canada’s headline inflation rate reached its highest point in nearly two decades last month as the consumer price index in August rose 4.1 per cent compared with a year… Continue reading Canada’s Inflation Rate Highest Since 2003
Canada’s inflation slows to 1.9% in August as gas prices drop
Source: Andy Blatchford, The Canadian Press, September 18, 2019 Canada’s annual inflation rate slowed slightly to 1.9 per cent in August under the weight of declining gasoline prices. Inflation was firm enough to stick close to the Bank of Canada’s ideal two per cent target — and August was the sixth straight month that price growth… Continue reading Canada’s inflation slows to 1.9% in August as gas prices drop
Canada’s inflation holds at 2% in July for second straight month
Source: The Canadian Press, August 21, 2019 The Canadian annual inflation rate came in at two per cent in July to hit the Bank of Canada’s ideal target for a second straight month. Statistics Canada says consumers paid less last month for gasoline, internet services and traveller accommodation compared with a year earlier. However, the latest… Continue reading Canada’s inflation holds at 2% in July for second straight month
Canada’s inflation up 2.4 per cent in May, largest gain since October
Source: The Canadian Press, June 19, 2019 The price of fresh vegetables in Canada was up almost 17 per cent in May 2019 compared to a year earlier, according to Statistics Canada. Statistics Canada says the annual pace of inflation picked up in May as the consumer price index rose 2.4 per cent compared with… Continue reading Canada’s inflation up 2.4 per cent in May, largest gain since October
Canada’s inflation rate slows to 1.4 per cent in January
Source: Andy Blatchford, The Canadian Press, February 27, 2019 OTTAWA — The country’s annual inflation rate decelerated last month to 1.4 per cent in January in large part because of lower prices at the pump, Statistics Canada said Wednesday said in a new report. Year-over-year growth in consumer prices slowed following the two per cent… Continue reading Canada’s inflation rate slows to 1.4 per cent in January