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.
There is currently a whooping cough epidemic in Europe, with 10 times as many cases compared to the previous two years. While an outbreak has not been declared nationwide in Canada, whooping cough is regularly detected in the country.
Ontario Provincial Police say 64 suspects are facing a combined 348 charges in connection with a series of child sexual exploitation investigations that spanned the province.
AstraZeneca said on Tuesday it had initiated the worldwide withdrawal of its COVID-19 vaccine due to a 'surplus of available updated vaccines' since the pandemic.
Federal unions are launching legal challenges and encouraging public sector workers to file "tens of thousands" of grievances over the new mandate requiring federal workers to return to the office at least three days a week in the fall.
The United States and Philippines held annual joint-training drills just off the Southeast Asian nation’s western coast on Wednesday. Military forces sunk a 'mock' enemy warship – the BRP Lake Caliraya, which was a decommissioned tanker made in China.
Numerous women have shared stories of 'Ozempic babies' on social media. But the joy some experience in discovering pregnancies may come with anxiety about the unknowns.
Prince Harry, the Duke of Sussex, has made headlines with his recent arrival in the U.K., this time to celebrate all things Invictus. But upon the prince landing in the U.K., we have already had confirmation that King Charles III won't have time to see his youngest son during his brief visit.
“I killed four people,” alleged serial killer Jeremy Skibicki told two homicide detectives during a recorded interview played as evidence in his trial Wednesday.
The Calgary Stampede has released its menu of sweet, salty and spicy treats available on the Midway for the Greatest Outdoor Show on Earth.
“I killed four people,” alleged serial killer Jeremy Skibicki told two homicide detectives during a recorded interview played as evidence in his trial Wednesday.
Federal unions are launching legal challenges and encouraging public sector workers to file "tens of thousands" of grievances over the new mandate requiring federal workers to return to the office at least three days a week in the fall.
Ontario Provincial Police say 64 suspects are facing a combined 348 charges in connection with a series of child sexual exploitation investigations that spanned the province.
The head of London Drugs is apologizing to customers after all the retailer's stores in Western Canada were shuttered last month by a cybersecurity breach that remains under investigation.
Toronto police are seeking help from the public as they continue to investigate a shooting that seriously injured a security guard outside rapper Drake's mansion.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his head more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.
Israel carried out heavy airstrikes in south Lebanon and Hezbollah said it had launched explosive drones and rockets at Israeli targets on Wednesday as Israel's defence minister warned of a 'hot summer' in the border region.
Leaders of three large public school systems strongly denied allegations that they let antisemitism run rampant in their schools, telling a congressional panel Wednesday that they are fighting it with education and, when necessary, discipline
The mayor of a major city in southern Brazil on Tuesday pleaded with residents to comply with his water rationing decree, given that some four-fifths of the population is without running water, a week after major flooding that has left at least 90 people dead and more than 130 others missing.
The federal judge in Florida presiding over the classified documents prosecution of former U.S. president Donald Trump has cancelled the May 20 trial date, postponing it indefinitely.
The world just experienced its hottest April on record, extending an 11-month streak in which every month set a temperature record, the European Union's climate change monitoring service said on Wednesday.
Federal unions are launching legal challenges and encouraging public sector workers to file "tens of thousands" of grievances over the new mandate requiring federal workers to return to the office at least three days a week in the fall.
An immigration lawyer in Toronto says new figures from the federal government show just how 'grudging' Ottawa's efforts have been to rescue Canadians' family members from the war in the Gaza Strip.
Canadian immigrants threatened by hostile regimes are urging parliamentarians to quickly pass the 'Countering Foreign Interference Act' so they can feel safe living in their adopted home.
There is currently a whooping cough epidemic in Europe, with 10 times as many cases compared to the previous two years. While an outbreak has not been declared nationwide in Canada, whooping cough is regularly detected in the country.
A first-of-its-kind Canadian research study is working towards a major medical breakthrough for a brain disorder, believed to be caused by repeated head injuries, that can only be detected after death.
European countries have reported a surge in whooping cough cases in 2023 and the first quarter of 2024, with 10 times as many identified as in each of the previous two years.
Apple is hoping its latest iPad lineup will breathe new life into its sluggish tablet market. In a pre-recorded live streamed event from its Cupertino, California headquarters, the company introduced the latest versions of its iPad Pro and iPad Air tablets, and an all-new Apple Pencil Pro.
Looking for a new little friend to curl up in your lap and purr contentedly? Before you head to the shelter, take heed – not all cat breeds are in it for the long haul.
Scientists studying the sperm whales that live around the Caribbean island of Dominica have described for the first time the basic elements of how they might be talking to each other, in an effort that could one day help better protect them.
Toronto police are seeking help from the public as they continue to investigate a shooting that seriously injured a security guard outside rapper Drake's mansion.
Nine of the 10 wrongful death lawsuits filed after deadly crowd surge at the 2021 Astroworld festival have been settled, including one that was set to go to trial this week, an attorney said Wednesday.
Spanish state prosecutors recommended Wednesday that an investigating judge shelve a probe into another alleged case of tax fraud by pop star Shakira.
The head of London Drugs is apologizing to customers after all the retailer's stores in Western Canada were shuttered last month by a cybersecurity breach that remains under investigation.
Air Canada ranks below most other major North American airlines on customer satisfaction, with airfares a particular sore point, according to a new survey.
An Ontario man found out that a line of credit he thought was insured actually isn't after his wife of 50 years died.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
For the past 12 years, Krista Richard has been delivering bikes to people in the Greater Moncton area free of charge.
Vancouver won't be hosting a public viewing party for Wednesday night's game, the mayor announced at an early morning news conference.
The Montreal Canadiens retained the fifth pick in the upcoming NHL lottery draft on Tuesday night.
Rick Tocchet doesn't mind the fact that his Vancouver Canucks aren't favoured to win against their next playoff opponent.
A pilot project to test and evaluate the operation of federally-approved three-wheeled vehicles on Nova Scotia roads starts next week.
The federal Liberals are trying to crack down on a scourge of auto thefts across the country, even as the government is struggling to keep its own vehicles away from thieves, new data show.
Ford is set to recall some pickup trucks in Canada due to potential tail light failure.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.
Whether passionate about Poirot or hungry for Holmes, Winnipeg mystery obsessives have had a local haunt for over 30 years in which to search out their latest page-turners.
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.
Millions of eligible B.C. drivers will receive a rebate before the end of July, ICBC's CEO announced Wednesday.
Police in Victoria say a cyclist who allegedly spat into the open window of a passing car last month has surrendered at police headquarters.
The head of London Drugs is apologizing to customers after all the retailer's stores in Western Canada were shuttered last month by a cybersecurity breach that remains under investigation.
Ontario Provincial Police say 64 suspects are facing a combined 348 charges in connection with a series of child sexual exploitation investigations that spanned the province.
An Ontario woman said it would have been impossible to buy a house without her mother – an anecdote that animates the fact that over 17 per cent of Canadian homeowners born in the ‘90s own their property with their parents, according to a new report.
An Ontario man found out that a line of credit he thought was insured actually isn't after his wife of 50 years died.
Calgary police have charged a man with the sexual assault of a woman he met at a downtown club.
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The Calgary Stampede has released its menu of sweet, salty and spicy treats available on the Midway for the Greatest Outdoor Show on Earth.
The Ottawa Police Service has laid charges against an Ottawa man, including for attempted murder, in connection with an alleged arson of an Overbrook apartment building last week.
Federal unions are launching legal challenges and encouraging public sector workers to file "tens of thousands" of grievances over the new mandate requiring federal workers to return to the office at least three days a week in the fall.
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The Quebec Bar's judicial clinic says it will start offering more free housing consultations to people in need ahead of the July 1 moving day.
Quebec Premier Francois Legault is defending his comments about a new history museum after he was accused by a prominent First Nations group of trying to erase their history.
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Three Edmonton Catholic schools were put on alert Wednesday morning because a man followed a student into school.
Energy Minister Jonathan Wilkinson says carbon capture technology is not too expensive or ineffective.
Canadian Utilities Ltd., a subsidiary of Calgary-based holding company ATCO Ltd., says it plans to build a new natural gas pipeline in Alberta to supply a massive net-zero petrochemical project being built northeast of Edmonton.
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A pilot project to test and evaluate the operation of federally-approved three-wheeled vehicles on Nova Scotia roads starts next week.
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Voting is open for Saskatchewan teachers Wednesday and Thursday as they decide whether or not to accept a contract offer from the provincial government, dubbed their 'final offer.'
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Ontario Provincial Police say 64 people have been arrested and a combined 348 charges have been laid in connection with a series of child exploitation investigations that spanned across the province.
It happened on Sparling Street in Seaforth. The road is closed between Market Street and John Street.
Denver Nuggets guard Jamal Murray is facing a hefty fine, but avoided suspension, after the NBA said he threw objects onto the court.
Tara Jo Kadlec has been advocating for better care for her brother Cory for years.
One of three accused in the killing of a Saskatoon man 18 years ago has pleaded not guilty.
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A province-wide child sexual abuse investigation by Ontario Provincial Police dubbed Project Aquatic has resulted in hundreds of charges, including seven male suspects from northern Ontario.
Numerous women have shared stories of 'Ozempic babies' on social media. But the joy some experience in discovering pregnancies may come with anxiety about the unknowns.
An Ontario man found out that a line of credit he thought was insured actually isn't after his wife of 50 years died.
Ontario Provincial Police say they have laid hundreds of charges against 64 people, including two from London, in a series of investigations into child sexual abuse.
It happened on Sparling Street in Seaforth. The road is closed between Market Street and John Street.
When it comes to air shows in North America, the Forest City is the top of its class, according to the results of a recent contest.
An emotional Cassie Korzenko walked into the Barrie Courthouse Wednesday morning with family members by her side ahead of a sentencing hearing.
A young driver faces a stunt driving charge for allegedly speeding 80 kilometres over the posted limit in North Simcoe.
Casino Rama Resort is amping up its 2024 entertainment lineup with three new rock performances, promising fans a nostalgic journey.
Windsor police say the death was not suspicious after a body was found near an east Windsor mall.
Windsor police are asking for the public’s help after a shirtless man was caught on a security camera allegedly breaking into a downtown home and stealing several items.
A Wallaceburg woman is charged after police were called for a weapons investigation on Tuesday. Around 3:05 p.m. officers responded to Reaume Avenue in Wallaceburg where they found a woman with "serious puncture injuries."
Millions of eligible B.C. drivers will receive a rebate before the end of July, ICBC's CEO announced Wednesday.
Police in Victoria say a cyclist who allegedly spat into the open window of a passing car last month has surrendered at police headquarters.
The head of London Drugs is apologizing to customers after all the retailer's stores in Western Canada were shuttered last month by a cybersecurity breach that remains under investigation.
Images of steelhead and trout flicker over long sheets of paper, brought to life in blue and green crayon rubbings by the thousands.
A man was taken to hospital with non-life-threatening injuries after a shooting in Kamloops Monday evening, the fourth incident police say is part of an ongoing drug conflict playing out on the city's streets.
Models in uniquely designed red dresses are taking to the runway in British Columbia this weekend to make a powerful fashion statement about missing and murdered Indigenous women, girls and two-spirit people.
A lane closure was announced by the City of Lethbridge Wednesday.
Lethbridge police are asking for public assistance to help them locate a man wanted on a number of outstanding warrants.
As of Tuesday afternoon, between 21 and 31 millimetres of rain had fallen in the Lethbridge region since Monday evening.
A vicious retaliation punch in a soccer game five years ago in the Sault was aggravated assault, an appeals court has confirmed.
A province-wide child sexual abuse investigation by Ontario Provincial Police dubbed Project Aquatic has resulted in hundreds of charges, including seven male suspects from northern Ontario.
Sault Ste. Marie police are asking people to avoid the Queen Street East area Wednesday as firefighters battle a blaze downtown.
The trial of a Newfoundland lawyer accused of sexual assault ended Tuesday with his defence team alleging the complainant lied under oath, while the prosecution said her memory lapses were understandable.
Newfoundland and Labrador is the latest jurisdiction to bring in stricter rules for short-term rentals, with a coming set of regulations that will force operators to register with the provincial government.
The Royal Newfoundland Constabulary says an officer convicted in 2021 of raping a woman while on duty is no longer with the force.
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