Minimum income required to buy a home in Vancouver spikes to shocking amount
If you are thinking about entering Vancouver’s housing market and becoming a homeowner, new data has revealed that unless your income meets this sky-high minimum amount, you’re going to be out of luck. According to numbers compiled from Ratehub.ca, a Canadian mortgage website, it’s even more bleak in Vancouver […]
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How to transfer money internationally
There are several ways to transfer money to and from Canada. Here are some popular ways to do so: Bank wire transfers: Most major banks and credit unions in Canada offer international wire transfer services. You’ll need the recipient’s bank account details, including their International Bank Account Number (IBAN) […]
Economy grew in May despite wildfire effects, looks to have slowed in June
The Canadian economy grew by 0.3 per cent in May despite downward pressure from wildfire-hit oil and gas production but it looks to have slowed in June, Statistics Canada said Friday. The energy sector was down 2.1 per cent in May, the release shows. “This was the sector’s first […]
Say goodbye to these everyday things to save money
From grocery to gas to going out, everything is a bit too expensive despite the decrease in the inflation rate to 2.8% according to Statistics Canada. We talked to an expert on how you can save money in Canada. Aaron Guillen from finance non-profit Better Business Bureau, BC and […]
Canada’s inflation rate tumbles to 2.8 per cent
Canada’s inflation rate has fallen back to the country’s target range for the first time in more than two years, but economists say the fight against high inflation is far from over. Annual inflation tumbled to 2.8 per cent in June, Statistics Canada reported Tuesday. The deceleration was […]
Toronto home prices now expected to rise 11 per cent by year end, Royal LePage says
The aggregate price of a home in the Greater Toronto Area is expected to remain mostly unchanged through the rest of the year despite the Bank of Canada’s decision to resume its interest rate hiking campaign, a new report from Royal LePage suggests. The real estate firm has revised its […]
Bank of Canada raises key interest rate, making the cost of borrowing more expensive
The Bank of Canada has raised its policy interest rate again, making the cost of borrowing more expensive. The 25 basis points hike brings the Bank’s overnight rate to 5%, the highest it’s been since 2001. In its Monetary Policy Report, the Bank of Canada says the rate increase […]
Bank of Canada expected to raise rates next week, despite rise in unemployment rate
The Canadian labour market is showing some signs of softening as the unemployment rate rises and wage growth slows, but with another solid job gain in June, forecasters are still expecting an interest rate hike by the Bank of Canada next week. Statistics Canada reported Friday the economy […]
Canada’s inflation rate falls to 3.4 percent last month
Canada’s inflation rate fell to 3.4 per cent in May — the lowest it’s been since June 2021. But some economists argue a slowdown might not be enough to deter the Bank of Canada from another rate hike in July. Statistics Canada reported Tuesday the slowdown was largely […]
The fastest growing industries for newcomers to Canada
Canada is known for having a stable and strong economy. Post-pandemic, the country has seen a strong rebound in several sectors, many of which are seeing rapid growth. Among employment sectors, some stand out as the fastest growing with the most in-demand skills. Healthcare Canadians are living longer and […]