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.
Police say one former and one current employee of Air Canada are among the nine suspects that are facing charges in connection with the gold heist at Pearson International Airport last year.
Drivers in Eastern Canada face a big increase in gas prices because of various factors, especially the higher cost of the summer blend, industry analysts say.
Toronto Raptors player Jontay Porter has been handed a lifetime ban from The National Basketball Association (NBA) following an investigation which found he disclosed confidential information to sports bettors, the league says.
The RCMP confirmed Wednesday it had executed a search warrant at an address registered to GC Strategies. This development comes as MPs are enacting an extraordinary, rarely used parliamentary power, summoning one of its contractors to appear before the House of Commons to be admonished publicly for failing to answer questions related to the ArriveCan app.
A woman who pressured her boyfriend into killing his teenage ex more than a decade ago will be allowed to leave prison for weeks at a time.
A motion filed by the man accused of killing four Indigenous women in Winnipeg to have one of those murder charges quashed has been dismissed by the judge – weeks before the start of his trial.
An earthquake with a preliminary magnitude of 6.4 hit southern Japan late on Wednesday, said the Japan Meteorological Agency, without issuing a tsunami warning.
Advocacy groups across Canada are expressing widespread disappointment about the amount of funding earmarked in the 2024 federal budget for the long-awaited Canada Disability Benefit.
A former massage therapist who pleaded guilty to a string of sexual assaults has had his day parole revoked.
A motion filed by the man accused of killing four Indigenous women in Winnipeg to have one of those murder charges quashed has been dismissed by the judge – weeks before the start of his trial.
Video of the moment a suspect left Toronto Pearson International Airport with more than $22 million in gold and cash has been released by police.
Prosecutors and defence lawyers are expected to make their final submissions today in the trial of a man accused of running over a Toronto police officer.
Progress has been made on a new compensation model for family doctors, with the Alberta Medical Association (AMA) hopeful for a fall rollout.
Drivers in Eastern Canada face a big increase in gas prices because of various factors, especially the higher cost of the summer blend, industry analysts say.
Ontario is going to see a big jump at the pumps later this week as gas prices in the province hit levels not seen in nearly two years, according to one industry analyst.
The U.S. Senate killed the articles of impeachment against Homeland Security Secretary Alejandro Mayorkas on Wednesday as the historic trial of the Cabinet secretary barely got underway.
Uber is helping investigators lookin into the account that sent a driver to the Ohio home where an 81-year-old man allegedly shot the woman to death because he erroneously believed she was part of a scam, the ride-hailing company said Wednesday.
An investigation of the catastrophic Maui wildfires that killed 101 people, destroyed hundreds of homes and left US$6 billion in damages reveals a spate of problems with emergency preparation and coordination before and during the disaster.
The sound of a vehicle backfiring spooked a circus elephant while she was getting a pre-show bath in Butte, Montana, leading the pachyderm to break through a fence and take a brief walk, stopping noontime traffic on the city's busiest street before being loaded back into a trailer.
An earthquake with a preliminary magnitude of 6.4 hit southern Japan late on Wednesday, said the Japan Meteorological Agency, without issuing a tsunami warning.
An issue with the system that calculates weight and balance of Alaska Airlines planes, causing all of its flights to be halted on Wednesday morning, has been resolved and the U.S. Federal Aviation Administration (FAA) cancelled a ground stop.
The RCMP confirmed Wednesday it had executed a search warrant at an address registered to GC Strategies. This development comes as MPs are enacting an extraordinary, rarely used parliamentary power, summoning one of its contractors to appear before the House of Commons to be admonished publicly for failing to answer questions related to the ArriveCan app.
In their 2024 budget, the federal government wants to amend the Canada Labour Code, so employers in federally regulated sectors will eliminate work-related communication with employees outside of scheduled hours. If implemented, this would affect roughly 500,000 across the country.
Advocacy groups across Canada are expressing widespread disappointment about the amount of funding earmarked in the 2024 federal budget for the long-awaited Canada Disability Benefit.
Progress has been made on a new compensation model for family doctors, with the Alberta Medical Association (AMA) hopeful for a fall rollout.
Public Health Ontario workers say the potential closure of six laboratories across the province would be dangerous and increase inequity in northern Ontario.
British Columbia’s decriminalization pilot project has been a key topic of discussion at various levels of government in recent weeks, with the conversation re-igniting after comments about diversion by a high-ranking officer of the Vancouver Police Department.
More than 5,500 years ago, two women were tied up and probably buried alive in a ritual sacrifice, using a form of torture associated today with the Italian Mafia, according to an analysis of skeletons discovered at an archeological site in southwest France.
There are a lot of risks when it comes to adolescents using screens — and a new multinational study shows weight-related bullying may be among them.
An experimental error led a team of scientists researching bumblebees to make a startling discovery: the insects’ remarkable ability to survive underwater for up to a week.
The Sundance Film Festival may not always call Park City, Utah, home. The Sundance Institute has started to explore the possibility of other U.S. locations to host the independent film festival starting in 2027, the organization said Wednesday.
Eight-year-old songwriter Zuri Hamilton from Miramichi, N.B., got to show off her talent on 'The Kelly Clarkson Show' on Monday.
A new Lennon and McCartney collaboration is the last thing anybody expected.
Disneyland employees who perform as many of the theme park’s beloved characters have filed to have a vote on whether to join the Actors’ Equity Association, which represents live performers all over the country, from actors on Broadway to strippers in Los Angeles.
Boeing was the subject of dual Senate hearings Wednesday as Congress examined allegations of major safety failures at the embattled aircraft manufacturer, which has been pushed into crisis mode since a door-plug panel blew off a 737 Max jetliner during an Alaska Airlines flight in January.
Drivers in Eastern Canada face a big increase in gas prices because of various factors, especially the higher cost of the summer blend, industry analysts say.
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.
Auston Matthews has one more chance to reach a milestone not touched in nearly three decades. The Maple Leafs sniper was unable to score in Tuesday night's 5-2 loss to the Florida Panthers, leaving him stuck on 69 goals for the season.
Former football star and celebrity criminal defendant O.J. Simpson was cremated Wednesday, the lawyer handling his estate said following his death last week at home in Las Vegas at age 76.
Toronto Raptors player Jontay Porter has been handed a lifetime ban from The National Basketball Association (NBA) following an investigation which found he disclosed confidential information to sports bettors, the league says.
Tesla will ask shareholders to reinstate a US$55 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year and to move the electric car maker's corporate home from Delaware to Texas.
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.
When Les Robertson was walking home from the gym in North Vancouver's Lower Lonsdale neighbourhood three weeks ago, he did a double take. Standing near a burrow it had dug in a vacant lot near East 1st Street and St. Georges Avenue was a yellow-bellied marmot.
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.
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.
B.C.'s police watchdog has finished its investigation into an incident on Vancouver Island, concluding the actions of officers weren't connected to a man's death.
Transit users taking SkyTrain through Burnaby Wednesday were warned to expect service interruptions due to a medical emergency.
A long-running dispute over whether a structure on a Surrey property violates a city bylaw that prohibits shipping containers on residential lots has been settled by the B.C. Supreme Court
Video of the moment a suspect left Toronto Pearson International Airport with more than $22 million in gold and cash has been released by police.
Toronto Raptors player Jontay Porter has been handed a lifetime ban from The National Basketball Association (NBA) following an investigation which found he disclosed confidential information to sports bettors, the league says.
The federal government says that it will be providing Canada's spy agency with hundreds of millions of dollars over the next eight years, including money to enhance its presence in Toronto in the face of mounting global threats.
Calgary has a new brand and it's looking up.
A Calgary doctor has been charged with fraud after allegedly submitting millions of dollars in false claims to the province.
Calgary's Animal Service's Centre is sharing the heartwarming story of an adoption that helped a fearful and injured stray bloom into a happy and healthy dog.
Ottawa motorists are being warned to expect a big hike in gasoline prices this week, as prices rise to the highest level since August 2022.
Treasury Board President Anita Anand says no government ministry and agency will be left out of the process of cutting 5,000 public-service positions.
The federal government's move to reduce its office space by 50 per cent over the next 10 years could open up discussions on a potential site for a new Ottawa Senators arena in downtown Ottawa, according to Mayor Mark Sutcliffe.
Halfway between a family medicine group (GMF) and a hospital, the Quebec government on Wednesday clarified its model for private mini-hospitals that will focus on the needs of seniors.
A former Montreal resident was sentenced earlier this week to 10 years in a United States federal prison for a multi-decade fraud that manipulated more than one million Americans into sending money to fake psychics.
Greg Kelley, the Quebec Liberal Party's critic for relations with English-speaking Quebecers, spoke to CTV News about how the CAQ has been handling the English file and what's in store for his own opposition party.
Progress has been made on a new compensation model for family doctors, with the Alberta Medical Association (AMA) hopeful for a fall rollout.
Edmonton-based Flair Airlines released a report Wednesday that included environmental, efficiency and sustainability initiatives, some it hopes to share across the aviation industry.
With the Edmonton Oilers locked into their National Hockey League playoff position, some players will get some game time off — with others scoring opportunities.
The RCMP says it is investigating a sudden death in Nova Scotia’s Colchester County.
Drivers in Eastern Canada face a big increase in gas prices because of various factors, especially the higher cost of the summer blend, industry analysts say.
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 motion filed by the man accused of killing four Indigenous women in Winnipeg to have one of those murder charges quashed has been dismissed by the judge – weeks before the start of his trial.
Though spring may be here, parts of Manitoba are set to get a blast of winter weather this week.
Though Winnipeg is full of hardcore hockey lovers, there’s one man who says he’s the Winnipeg Jets biggest fan.
A 36-year-old man who was an inmate at the Regina Correctional Centre (RCC) was found dead on Tuesday morning, a news release from the province said.
Tuesday night in government committee saw the Ministry of Social Services release documents revealing how much funding was sent to two Regina motels associated with Sask. Party MLA Gary Grewal.
A former massage therapist who pleaded guilty to a string of sexual assaults has had his day parole revoked.
The Waterloo Region Police Services Board wants to explore new ways of dealing with an annual unsanctioned St. Patrick’s Day street party in Waterloo’s University District.
Police say one former and one current employee of Air Canada are among the nine suspects that are facing charges in connection with the gold heist at Pearson International Airport last year.
A Toronto man is facing weapons and other charges after allegedly pulling out a hammer to avoid paying a bar tab in Guelph.
A former massage therapist who pleaded guilty to a string of sexual assaults has had his day parole revoked.
Motorists in Saskatoon are advised to drive cautiously, with roads wet and slushy following a night of rain and now.
A man who Prince Albert police say shot at an opposing vehicle he was involved in a collision with last fall before fleeing the scene has been charged with attempted murder.
In a lengthy council meeting Tuesday night, city council in Sudbury unanimously voted to build a new arena and events centre downtown.
A former girlfriend of a murder suspect in Sudbury testified Wednesday that he talked about his role in the deaths a day after a firebombing that killed three people.
The body of a missing man has been found after his vehicle was pulled into a northern creek on Saturday morning, Ontario Provincial Police say.
It’s not every day that a new washroom becomes the talk of the town. But in the Lake Huron tourist community of Grand Bend a new so-called smart washroom has many residents and business owners flush with joy.
A full house of concerned citizens turned out to the latest meeting about the future of the Clinton Public Hospital and its overnight emergency room closure.
The hockey community in Chatham-Kent and beyond is mourning the sudden death of a player caught in a highway crash this week in London.
A multi-vehicle collision involving a semi-truck snarled traffic in Barrie on Wednesday afternoon.
One person was taken to the hospital after their vehicle rolled into a drainage creek off Highway 400 in Barrie.
Police in Caledon charged a motorist who was pulled over on King Caledon Townline near King Street after an officer noticed the rear driver's side door being held closed with bungee cords.
The hockey community in Chatham-Kent and beyond is mourning the sudden death of a player caught in a highway crash this week in London.
Parents of children with learning disabilities are seeking 'certainty' on the long-term status of a program that provides tailored special education support in language and math within schools.
Windsor police have issued an arrest warrant for a 24-year-old man related to an alleged sexual assault of a minor.
Construction workers are poised to start building a BC Cancer centre in Nanaimo in 2025 – bringing access to critical treatment services closer to home for thousands of people on Vancouver Island.
Police in Metro Vancouver say their investigation into how a vehicle ended up at the bottom of the Fraser River has led to the discovery of other submerged vehicles, including a school bus and at least two stolen cars.
As the federal government unveiled a housing-heavy deficit budget, B.C.’s premier isn’t just ready to cash the cheque for his province’s share, he’s seemingly taunting his counterparts about their reluctance.
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 police have arrested a Vermilion, Alta., man in connection with a 'grandparent scam' that took aim at a local senior.
A serious multi-vehicle crash closed a highway north of Coaldale, Alta., on Wednesday morning.
With or without federal support, improvements to a major southern Alberta highway continue because of its critical economic importance as an east-west corridor, the province says.
For the next several months, the City of Sault Ste. Marie will be cracking down on people who improperly use accessible parking spaces.
A suspect riding a bicycle on Gibbs Street in Sault Ste. Marie this week has been charged with assaulting police, along with drug-related offences.
Police in Sault Ste. Marie charged a 26-year-old woman with several offences following an incident Monday morning.
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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