Canada's major banks have been quick to react to the Bank of Canada's decision to raise interest rates to 1.25%
The summertime creates an added debt burden for many Canadians with 40 per cent of those polled by mortgage lender CIBC saying they spend more.
Mortgage borrowing increased in May as low interest rates boosted sentiment.
Canada’s economic growth will be closely watched Tuesday as Statistics Canada releases the latest GDP figures.
New figures show that seniors are carrying increasingly levels of debt into retirement and bankruptcies among the demographic are soaring.
The Alberta government wants to increase the minimum wage this fall and move towards ending the lower rate for liquor servers.
The chief economist of Royal Bank of Canada’s asset management division says there is a 35 per cent chance that the BoC will make a further cut in interest rates in the coming months.
Questions have been asked about the distribution of funds for municipal infrastructure projects administered by the Canada Mortgage and Housing Corporation.
Two of Canada’s largest mortgage lenders have helped raise money for charity with sporting events this month.
While political debate rages on in Vancouver over the impact of foreign investment on the housing market a well-known economist has spoken out against those who want tougher restrictions.
Housing is by far the largest component of the average $2,400 that a Canadian retiree spends each month.