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Home Economics: Borrowers beware as Bank of Canada shifts tone on rates
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Near the start of the pandemic the Bank of Canada lowered interest rates to near bottom levels signalling to Canadians they will remain low for a long time. Now with Canada s economy recovering faster than expected, the Bank of Canada is shifting their tone on rates, saying they may rise by the second half of 2022. CTV s Chief Financial Commentator Pattie Lovett-Reid explains why borrowers in a variable rate mortgage might want to make the switch to a fixed one.
Nearly half of first-time homebuyers in Canada are looking further afield into the suburbs for a prime piece of real estate. A survey by the Bank of Montreal found that 47 per cent of respondents are ditching downtown for more affordability and larger spaces, and itâs a trend thatâs expected to continue in a work-from-home world. Only 30 per cent of those surveyed are still attracted to urban
The Daily Chase: Feud over K.C. Southern intensifies; BoC puts borrowers on notice VIDEO SIGN OUT
Let there be no mistake: the gloves are off in the battle for control of Kansas City Southern. In a conference call brought to us by the word âtruthâ yesterday, Canadian Pacific Railway CEO Keith Creel virtually bypassed the latest quarterly results in favour of a full-throttled takedown of the rival proposal from Canadian National which, in his mind, amounts to âfantasy moneyâ and is bound to fail. Lest there be any doubt about where he stands, Creel also suggested in a letter to KCS Chief Executive Officer Pat Ottensmeyer that CN doesnât actually want to do the deal. The biggest question remains the same: How will KCS respond to the CN proposal?
Home Economics: Home ownership is a fleeting dream for young Canadians
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With real estate prices climbing to all time highs, 36 per cent of young Canadians under the age of 40 said they have given up on the idea of buying a home according to a poll from Royal Bank of Canada. With increased demand and short supply raising prices, 62 per cent of respondents also said they expect most people will be priced out of the market over the next decade.
With the pandemic forcing couples to spend more time together than they typically have, some divorce lawyers are seeing a rise in demand. Ron Shulman, founder and managing partner of Shulman & Partners LLP, said his offices have seen a 40 per cent increase in divorce inquires in recent months. Shulman found that separation dates were one of the main trends spurring divorce disputes. Many individuals are concerned about the exact date of separation since an asset may be worth a whole lot more