Tag: finance
-
Canada now has one of the highest household debt levels in the world
Interest Payments Now Consume Nearly 20% of Income for Some Canadians Canada ranks third globally for household debt among advanced economies, trailing only Switzerland and Australia. This high debt burden impacts Canadians unevenly, with lower-income households bearing the brunt. Impact of Rising Interest Rates A recent study by Fédération des caisses Desjardins du Québec reveals…
-
Why Canada’s #1 Real Estate Podcast is a Must-Listen
If you’re a Canadian real estate investor or aspiring to become one, there’s a podcast you need to tune into—The Canadian Real Estate Investor. Hosted by seasoned experts Daniel Foch and Nick Hill, this podcast has quickly become the go-to resource for anyone looking to navigate the complexities of the Canadian real estate market. About…
-
Bank of Canada cuts key interest rate for the first time in 4 years
The Bank of Canada has reduced its overnight rate by 25 basis points, marking the first rate cut since the onset of the pandemic. This decision, announced on Wednesday, lowers the policy rate from 5% to 4.75%. Background and Context The Bank of Canada began increasing its key interest rate in March 2022 in response…
-
All Eyes on the Bank of Canada: Will They Cut Interest Rates in June?
The Bank of Canada’s upcoming rate-setting announcement on Wednesday is attracting significant attention. While some expect a rate cut, the central bank’s decision could have substantial implications for the economy, especially if they choose to hold rates steady. The Current Economic Landscape The anticipation surrounding this announcement is fueled by the economic context. Since March…
-
Average hourly wage in Canada now $34.95 according to StatsCan
The latest data from Statistics Canada reveals that the average hourly wage in Canada has reached $34.95, as reported on May 10, 2024. This significant figure comes amidst a robust performance in April’s job numbers, prompting economists to reconsider their stance on potential rate cuts. Here’s a closer look at the key highlights: In summary,…
-
Canadians owe nearly $1.85 for every $1 of disposable income, according to a study by RBC.
In recent times, Canadian households have seen a notable increase in their debt-to-income ratios. As of the first quarter of 2023, this ratio reached an alarming 184.5%, indicating that Canadians owe nearly $1.85 for every dollar of disposable income. A study by RBC highlighted that individuals between the ages of 35 and 44 have an…
-
47% of Canadians are living paycheque to paycheque, according to a recent poll.
The financial landscape for many Canadians is becoming increasingly challenging. Factors like inflation, escalating rent and home prices, rising interest rates, and hefty taxes are stretching personal finances thin. Recent studies indicate that nearly half of the working population in Canada is living paycheck to paycheck. Understanding the Pressure on Personal Finances For many Canadians,…
-
76% of Canadians who don’t own property view homeownership as currently unachievable according to a recent survey by CIBC
A recent survey conducted by the Canadian Imperial Bank of Commerce (CIBC) has highlighted a stark reality: a significant majority of Canadians who do not currently own property find the prospect of homeownership increasingly unattainable. Despite 56% of non-owners still harboring the aspiration to own a home one day, a whopping 76% believe this goal…
-
The Bank of Canada holds interest rates steady at 5.00% on March 6, 2024
On March 6th, the Bank of Canada shared some good news for homeowners and those considering buying a home soon: interest rates will remain unchanged. This decision keeps the overnight rate at a steady 5.00%. This move was anticipated in our latest interest rate forecast, owing to signs of slowing inflation and a softer economy.…
-
Bank of Canada to slash interest rates in half by end of 2025, predicts Desjardins
In a move anticipated to bring significant financial relief to Canadians, the Bank of Canada is gearing up to initiate a series of interest rate reductions starting this spring. According to Desjardins Group, this strategic adjustment aims to alleviate the economic strain experienced by many, marking a shift towards more accommodating monetary policy. Desjardins Group’s…
Canada Housing Market 