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.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
Five thousand public service jobs will be cut over the next four years, while underused federal office buildings, Canada Post properties and the National Defence Medical Centre in Ottawa could be turned into new housing units, as the federal government looks to find billions of dollars in savings and boost the country's housing portfolio.
With a variety of fiscal and policy measures announced in the federal budget, winners include small businesses and fintech companies while losers include the tobacco industry and Canadian pension funds.
From plans to boost new housing stock, encourage small businesses, and increase taxes on Canada’s top-earners, CTVNews.ca has sifted through the 416-page budget to find out what will make the biggest difference to your pocketbook.
The Liberals are proposing new charges for the use of violence while stealing a vehicle and for links to organized crime, as well as laundering money for the benefit of a criminal organization.
The federal government is providing up to $5 billion in loan guarantees to help Indigenous communities invest in natural resource and energy products. But when it comes to a promise to close what advocates say is a sprawling Indigenous infrastructure gap, Ottawa is short more than $420 billion.
Police say that arrests have been made in connection with a $20-million gold heist at Toronto Pearson International Airport one year ago.
Shoppers Drug Mart is facing a proposed class-action lawsuit by current and former franchise owners at the retail chain who allege parent company Loblaw engaged in corporate practices that placed them in an “irredeemable conflict of interest” and put patient care at risk.
Lululemon says it is combining function and fashion in its first-ever summer kit for Canada's Olympians and Paralympians.
From plans to boost new housing stock, encourage small businesses, and increase taxes on Canada’s top-earners, CTVNews.ca has sifted through the 416-page budget to find out what will make the biggest difference to your pocketbook.
The Liberals are proposing new charges for the use of violence while stealing a vehicle and for links to organized crime, as well as laundering money for the benefit of a criminal organization.
Three teenagers were arrested in connection with a pair of alleged hazing incidents on a Manitoba hockey team, police say.
The federal government is providing up to $5 billion in loan guarantees to help Indigenous communities invest in natural resource and energy products. But when it comes to a promise to close what advocates say is a sprawling Indigenous infrastructure gap, Ottawa is short more than $420 billion.
Small- and medium-sized business owners are set to receive a long-awaited refund from Ottawa, which was holding onto billions of dollars while it sorted out a way to deliver them their carbon pricing rebates.
Police say that arrests have been made in connection with a $20-million gold heist at Toronto Pearson International Airport one year ago.
Defiant and determined, House Speaker Mike Johnson pushed back Tuesday against mounting Republican anger over his proposed U.S. aid package for Ukraine, Israel and other allies, and rejected a call to step aside or risk a vote to oust him from office.
The world installed 117 gigawatts of new wind power capacity in 2023, a 50 per cent increase from the year before, making it the best year for new wind projects on record, according to a new report by the industry's trade association.
Australia's prime minister said Tuesday a French construction worker who confronted a man who stabbed six people to death in a Sydney shopping mall is welcome to stay in the country as long as he likes.
The British government's plan for a landmark smoking ban that aims to stop young people from ever smoking cleared its first hurdle in Parliament on Tuesday despite vocal opposition from within Prime Minister Rishi Sunak's Conservative Party.
After its last closure in 2021, it has now reopened for guided tours of the air raid shelter and the bunker. The complex now includes a multimedia exhibition about Rome during World War II, air raid systems for civilians, and the series of 51 Allied bombings that pummeled the city between July 1943 and May 1944.
The first six jurors for Donald Trump's hush money trial were chosen Tuesday after lawyers grilled members of the jury pool about their social media posts, political views and personal lives to decide whether they can sit in fair judgment of the former president.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
From plans to boost new housing stock, encourage small businesses, and increase taxes on Canada’s top-earners, CTVNews.ca has sifted through the 416-page budget to find out what will make the biggest difference to your pocketbook.
Small- and medium-sized business owners are set to receive a long-awaited refund from Ottawa, which was holding onto billions of dollars while it sorted out a way to deliver them their carbon pricing rebates.
The strain placed on Canadian health care during the COVID-19 pandemic shows no sign of abating, and the top official of the Canadian Medical Association (CMA) is warning that improving the system will be a 'slow process' requiring sustained investment.
A group of doctors say Canadian cancer screening guidelines set by a national task force are out-of-date and putting people at risk because their cancers aren't detected early enough.
The British government's plan for a landmark smoking ban that aims to stop young people from ever smoking cleared its first hurdle in Parliament on Tuesday despite vocal opposition from within Prime Minister Rishi Sunak's Conservative Party.
NASA confirmed Monday that a mystery object that crashed through the roof of a Florida home last month was a chunk of space junk from equipment discarded at the International Space Station.
Using genes from coffee plants around the world, researchers built a family tree for the world's most popular type of coffee, known to scientists as Coffea arabica and to coffee lovers simply as 'arabica.'
NASA is seeking innovative methods that could help retrieve samples collected by the Perseverance rover on Mars in the future.
Participant, the activist film and television studio that has financed Oscar winners like 'Spotlight' and socially conscious documentaries like 'Food, Inc,' and 'Waiting For Superman' is closing its doors after 20 years.
Classic characters, new stories, fresh mashups. Will it all be a bonanza for makers as classic works again begin entering the public domain?
A portrait of Winston Churchill by an artist whose work the British leader loathed went on display Tuesday at Churchill's birthplace ahead of an auction in June.
Shoppers Drug Mart is facing a proposed class-action lawsuit by current and former franchise owners at the retail chain who allege parent company Loblaw engaged in corporate practices that placed them in an “irredeemable conflict of interest” and put patient care at risk.
Canada Mortgage and Housing Corp. says the annual pace of housing starts in March declined seven per cent compared with February.
Tim Hortons is launching flatbread pizzas nationally in a bid to pick up more afternoon and evening customers.
In Salman Rushdie's first book since the 2022 stabbing that hospitalized him and left him blind in one eye, the author wastes no time reliving the day he thought might be his last.
A Celebrity Apex cruise to the Caribbean this month turned into a rocking Newfoundland kitchen party when hundreds of people from Canada's easternmost province happened to be booked on the same ship.
The one thing 9-year-old Cal Clifford wanted more than anything since he was a toddler was a pet octopus.
Three teenagers were arrested in connection with a pair of alleged hazing incidents on a Manitoba hockey team, police say.
An Ontario woman says she never expected to be gifted a Blue Jays jersey for her ailing husband when she sat alone at the team’s home opener next to a couple of kind strangers.
Lululemon says it is combining function and fashion in its first-ever summer kit for Canada's Olympians and Paralympians.
Tesla has hit a series of roadblocks, including increased competition and declining sales. The company announced Monday it is slashing 10 per cent of its global workforce.
A driver from London will have to find alternative transportation after an OPP officer clocked them travelling nearly 200 km/h on Highway 401 over the weekend.
General Motors will move its Detroit headquarters to a new downtown office building next year and work to redevelop its iconic home along the Detroit River, company and city officials confirmed Monday.
Just steps from Parliament Hill is a barber shop that for the last 100 years has catered to everyone from prime ministers to tourists.
A high score on a Foo Fighters pinball machine has Edmonton player Dave Formenti on a high.
A compound used to treat sour gas that's been linked to fertility issues in cattle has been found throughout groundwater in the Prairies, according to a new study.
While many people choose to keep their medical appointments private, four longtime friends decided to undergo vasectomies as a group in B.C.'s Lower Mainland.
A popular highway in Alberta's Banff National Park now has a 'no stopping zone' to help protect two bears.
B.C. resident Robert Conrad spent thousands of hours on Crown land developing an unusual bond with deer.
A Sudbury woman said her husband was bringing the recycling out to the curb Wednesday night when he had to make a 'mad dash' inside after seeing a bear.
A school teacher who took part in the Quebec version of the Survivor reality TV show took time off work to be a contestant is now out of a job.
A young actor from Prince Edward Island is getting the chance to fulfill a childhood dream, playing the precocious and iconic Anne Shirley on stage.
British Columbia's highest court has upheld a manslaughter conviction against a Vancouver man who shoved a senior outside a busy Costco store, rejecting his argument that the trial judge failed to consider how his claustrophobia and fear of crowds led to the fatal altercation.
A moulting seal who was relocated after drawing daily crowds of onlookers in Greater Victoria has made a surprise return – after what officials described as an "astonishing" six-day journey.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
Police say that arrests have been made in connection with a $20-million gold heist at Toronto Pearson International Airport one year ago.
A Toronto woman is warning others to be on the lookout after a coyote approached her while she was sitting on a park bench near Ontario Place last weekend.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
A Crown prosecutor making the case against three men charged with mischief at the border blockade at Coutts, Alta., told jurors Tuesday they don’t have to determine the accused were kingpins of the protest in order find them guilty.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
Calgary police say the driver of a BMW was given a summons for a mandatory court appearance after being caught travelling more than double the speed limit.
Five thousand public service jobs will be cut over the next four years, while underused federal office buildings, Canada Post properties and the National Defence Medical Centre in Ottawa could be turned into new housing units, as the federal government looks to find billions of dollars in savings and boost the country's housing portfolio.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
CTVNewsOttawa.ca looks at four things in the federal budget that will have an impact on the city of Ottawa.
Quebec's education ministry says it is working on clarifying directives on when officials can communicate with the public in a language other than French.
A Quebec Superior Court judge has authorized a class-action lawsuit against 16 pharmaceutical companies that are alleged to have misled consumers about the efficacy and dangers of opioid medications.
Despite sharing the Parti Quebecois (PQ)'s desire to make Quebec a country, Quebec Solidaire (QS) parliamentary leader Gabriel Nadeau-Dubois has roundly criticized PQ leader Paul St-Pierre Plamondon's speech, calling it 'conservative.'
A pipeline was involved in a wildfire in western Alberta on Tuesday, Yellowhead County says.
The Edmonton Oilers are bringing back watch parties inside and outside Rogers Place when the Stanley Cup Playoffs begin in the coming days.
Three people have been charged after police recovered nearly half a million dollars worth of stolen property.
A Celebrity Apex cruise to the Caribbean this month turned into a rocking Newfoundland kitchen party when hundreds of people from Canada's easternmost province happened to be booked on the same ship.
The Nova Scotia RCMP says four people have been charged following a man’s homicide two years ago.
A portion of Barrington Street has reopened after a three-vehicle crash Tuesday morning.
Three teenagers were arrested in connection with a pair of alleged hazing incidents on a Manitoba hockey team, police say.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
One Winnipeg sports memorabilia shop has been the target of multiple break-ins and is now looking to recover some stolen property.
Winter weather seemed to be in the rear view mirror for Saskatchewan the past couple weeks, but now Environment and Climate Change Canada (ECCC) is forecasting as much as 30 centimetres of snow for some parts of the province.
Saskatchewan NDP Leader Carla Beck highlighted concerns around mental health, addictions and infrastructure as she addressed the Saskatchewan Urban Municipalities Association (SUMA) conference.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
Cambridge resident Samantha Falkiner explains why something felt "off" about the men who approached her and her neighbours on Friday.
Waterloo Regional Police Services has released the estimated total cost for the St. Patrick’s Day weekend in the city of Waterloo.
Brantford police are investigating a series of personal thefts and are seeking information from the public to identify the people responsible.
The founders of a Saskatoon real estate investment company that left investors with millions of dollars in losses have reached a settlement with Saskatchewan’s financial and consumer watchdog.
Two men accused of beating and tying up a mentally ill man on a Saskatchewan farm have pleaded guilty to assault causing bodily harm.
Winter weather seemed to be in the rear view mirror for Saskatchewan the past couple weeks, but now Environment and Climate Change Canada (ECCC) is forecasting as much as 30 centimetres of snow for some parts of the province.
Rescue crews are searching for a man reported missing on the weekend after the vehicle he was driving was pulled into a creek near the Quebec border in northern Ontario.
The YMCA of Sault Ste. Marie is selling its building and ceasing operations in May.
City officials in Sudbury say construction season started early this year thanks to the warm weather this spring.
A two-vehicle crash between a pickup truck and a transport truck on Highway 401 south of London, Ont. has resulted in one fatality Tuesday afternoon, with police warning motorists to expect delays in the area.
It’s an issue affecting local high schools across the Thames Valley District School Board (TVDSB) and the London District Catholic School Board (LDCSB).
A driver from London will have to find alternative transportation after an OPP officer clocked them travelling nearly 200 km/h on Highway 401 over the weekend.
Two new shows are coming to Casino Rama's Entertainment Centre for fans of country music and 80s rock.
Fire officials say a lithium-ion battery inside a vacuum cleaner sparked a fire at an apartment complex Sunday afternoon in Gravenhurst.
Owen Sound dog owners could face a pretty penny for not leashing their dogs or picking up after them.
A group of landlords contesting the city’s new residential rental licensing bylaw is appealing a recent court decision.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
The ‘faint hope’ hearing of Ali Al-Shammari, 38, continued Tuesday in Superior court.
A moulting seal who was relocated after drawing daily crowds of onlookers in Greater Victoria has made a surprise return – after what officials described as an "astonishing" six-day journey.
British Columbia's highest court has upheld a manslaughter conviction against a Vancouver man who shoved a senior outside a busy Costco store, rejecting his argument that the trial judge failed to consider how his claustrophobia and fear of crowds led to the fatal altercation.
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
British Columbia is planning to add 240 new units to its complex-care housing program, providing homes for people with mental-health and addictions challenges that overlap with other serious conditions.
More than 80 residents from a low-income apartment building in Kelowna, B.C., have learned they won't be able to return to their homes for at least another two weeks.
Mounties are investigating a reported "road rage" incident in Kelowna, B.C., that left two men injured last week.
Lethbridge West MLA Shannon Phillips is calling on the province to reinstate funding for the Lethbridge Elder Abuse Response Network.
If you’re planning to head to the coulees this weekend to enjoy the nice weather, don’t forget to look down.
With the weather starting to feel like spring is really here, more kids will likely be outside enjoying the sunshine and warm temperatures, which organizers of the Slow Your Roll campaign say is a perfect time to re-launch the campaign.
The YMCA of Sault Ste. Marie is selling its building and ceasing operations in May.
Police in Sault Ste. Marie have charged a 26-year-old with stunt driving following an incident Tuesday morning.
Here is a look at how some northern Ontario colleges are being affected by the new Canadian immigration policy that has reduced the number of new international students.
A Celebrity Apex cruise to the Caribbean this month turned into a rocking Newfoundland kitchen party when hundreds of people from Canada's easternmost province happened to be booked on the same ship.
A pricing agreement has been reached between crab fishers and seafood processors that will allow for Newfoundland and Labrador's annual crab fishery to get started.
Longliners across Newfoundland and Labrador are tied up once again, as a new protest by the province's fish harvesters threatens to derail the crab fishery for a second straight year.
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