An El Nino-less summer is coming. Here's what that could mean for Canada
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.
With the latest hike bringing Canada's key interest rates to levels not seen since 2001, one mortgage broker is warning that it may be "the last straw" for some homeowners with variable mortgages.
"We started to hear from people in the last three weeks that they are actively considering selling their homes," Ron Butler, a mortgage broker in Ontario told CTV News Channel on Wednesday. "They can't handle the increases."
The Bank of Canada raised its overnight rate by 25 basis points to 4.75 per cent, the first increase since pausing hikes in January.
Butler says homeowners with variable rate mortgages are the most exposed to the latest hike, but those needing renewals will also feel the financial pain.
"All of those people feel the pain," Butler warned. "The question becomes, are they reaching the end of their rope?"
Watch the full video by clicking on the video at the top of this article.
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.
Canada Post is increasing stamp prices for the third time since 2019, a move the Crown corporation says is a "reality" of its sales-based revenue structure.
The federal New Democrats are calling out Conservative Leader Pierre Poilievre and his party for trying to block the bill that could pave the way for millions of Canadians to access birth control and diabetes coverage.
Defence lawyers of Jeremy Skibicki have admitted in court the accused killed four Indigenous women, but argues he is not criminally responsible for the deaths by way of mental disorder – this latest development has triggered a judge-alone trial rather than a jury trial.
A daily spoonful of olive oil could lower your risk of dying from dementia, according to a new study by Harvard scientists.
An Ontario MPP was asked again to leave the Ontario legislature on Monday for wearing a keffiyeh, a garment that was banned by the Speaker last month due to its political symbolism.
H5N1 or avian flu is decimating wildlife around the world and is now spreading among cattle in the United States, sparking concerns about 'pandemic potential' for humans. Now a health expert is urging Canada to scale up surveillance north of the border.
Democratic Institutions Minister Dominic LeBlanc will be tabling legislation on Monday aimed at countering foreign interference in Canada. Federal officials have scheduled a technical briefing on the incoming bill for Monday afternoon.
Polish prosecutors have discontinued an investigation into human skeletons found at a site where German dictator Adolf Hitler and other Nazi leaders spent time during the Second World War because the advanced state of decay made it impossible to determine the cause of death, a spokesman said Monday.
Eighty-two-year-old Susan Neufeldt and 90-year-old Ulrich Richter are no spring chickens, but their love blossomed over the weekend with their wedding at Pine View Manor just outside of Rosthern.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A mother goose and her goslings caused a bit of a traffic jam on a busy stretch of the Trans-Canada Highway near Vancouver Saturday.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.