Tag: Canada

Nearly 1 in 4 homeowners would have to sell home if interest rates rise more: Survey

TORONTO — Nearly one in four homeowners say they will have to sell their home if interest rates go up further, according to a new debt survey from Manulife Bank of Canada. The survey, conducted between April 14 and April 20, also found that 18 per cent of homeowners polled are already at a stage where they can’t afford their homes. Over one in five Canadians expect rising interest rates to have a “significant negative impact” on their overall mortgage, debt and financial situation, the survey fo
— Read on ca.finance.yahoo.com/news/nearly-1-4-homeowners-sell-080000420.html

Bank of Canada Set to Deliver Another Jumbo Rate Hike: Decision Guide

(Bloomberg) — The Bank of Canada is set to take another aggressive step in its hiking cycle, moving swiftly to tame inflation by bringing its policy interest rate back to a more neutral level.Most Read from BloombergReady to Buy a House? Just Wait a Few WeeksSoros’s Money Manager Warns Recession ‘Inevitable’ But Market Timing Is OffGiant Deep Ocean Turbine Trial Offers Hope of Endless Green PowerChinese Banks Overflow With Cash That Nobody Wants to BorrowStocks End a Volatile Month Right Where
— Read on ca.finance.yahoo.com/news/bank-canada-set-deliver-another-173000030.html

Federal government posts $95.6 billion deficit for 2021-2022 fiscal year

OTTAWA — The federal government posted a deficit of $95.6 billion for its 2021-22 fiscal year. In its monthly fiscal monitor report, the Finance Department says the tally for the April 2021 to March 2022 period compared with a deficit of $314.0 billion a year earlier. Program expenses, excluding net actuarial losses, totalled $457.3 billion, down from $577.6 billion a year earlier due in large part to lower transfers to businesses, individuals, and other levels of government. Public debt charges
— Read on ca.finance.yahoo.com/news/federal-government-posts-95-6-151048162.html