BREAKING B.C. serial killer Robert Pickton hospitalized after prison attack
British Columbia serial killer Robert Pickton sustained life-threatening injuries in a Quebec prison Sunday in what officials described as a 'major assault.'
As home prices and interest rates remain elevated, a record number of non-homeowners think they’ll never afford a house, according to a new survey.
A report released by Mortgage Professionals Canada on Tuesday found about a third of respondents believe they’ll never be able to afford their first house.
“The rapid decline in affordability—thanks to both high home prices and now high interest rates—has played a central role in Canadians’ view towards homebuying,” the report said.
“The survey revealed a record-high number of non-owners believe they will never be able to buy a family home, at 33 percent, growing by 8 points in just six months and a whopping 15 points year-over-year.”
The survey also found Canadians are more anxious about inflation, with 60 per cent of respondents saying they’re worried about how it will impact their finances, up 20 per cent from six months earlier.
Last month, Statistics Canada reported inflation eased in January, with the consumer price index climbing 5.9 per cent from a year ago. However, inflation still remains significantly higher than the Bank of Canada’s inflation-control target range of one to three per cent.
The Bank of Canada is set to make its latest key policy rate announcement this Wednesday.
While economists tracked by Bloomberg are anticipating the central bank will hold its key policy rate at 4.50 per cent, consumers are concerned about how future rate hikes could impact their ability to pay for their mortgage.
The report found almost half of respondents (47 per cent) say a rate increase of up to 20 per cent “would cause them to experience mortgage payment difficulties.”
Many new homeowners are also having a hard time paying their mortgages, with 14 per cent of first-time buyers saying it’s hard to meet payments every month.
While many housing markets have seen prices drop over the past 12 months, the report said, “Higher mortgage costs resulted in a broad deterioration of affordability across Canada.”
“Urban centres in Ontario and British Columbia, where average house prices are 23.5 and 23.3-times average disposable income, remain by far the least affordable. This ratio is much lower in Quebec (13.3 times),” it said.
Vancouver and Toronto will continue to be the least affordable housing markets, according to the report, and they’re “not expected to return to affordable levels in the foreseeable future.”
British Columbia serial killer Robert Pickton sustained life-threatening injuries in a Quebec prison Sunday in what officials described as a 'major assault.'
One passenger was killed and 30 injured after a Singapore Airlines SIAL.SI flight from London hit severe turbulence en route on Tuesday, forcing it to make an emergency landing in Bangkok, officials and the airline said.
Pierre Poilievre's Conservatives returned to the House of Commons on Tuesday with a renewed call for Speaker Greg Fergus to resign, this time over 'very partisan' and 'inflammatory' language used to promote an upcoming event.
Donald Trump's reelection campaign called 'The Apprentice,' a film about the former U.S. president in the 1980s, 'pure fiction' and vowed legal action following its premiere at the Cannes Film Festival. But director Ali Abbasi is offering to privately screen the film for Trump.
Anything is possible this week, as far as Canada's weather is concerned, with forecasts ranging from scorching heat in some parts of the country to rain and snow in others.
Nestle NESN.S will market a new, US$5 line of frozen pizzas and protein-enriched pastas in the United States which it says it designed specifically for people taking drugs such as Wegovy or Ozempic for weight loss.
Canada's annual inflation rate slowed to a three-year low of 2.7 per cent in April, matching expectations, and core measures continued to ease, data showed on Tuesday, likely boosting chances of a June interest rate cut.
Amal Clooney is one of the legal experts who recommended that the chief prosecutor of the world's top war crimes court seek arrest warrants for Israeli Prime Minister Benjamin Netanyahu and leaders of the militant Hamas group.
Members of a Canadian group representing families of those killed when Iranian officials shot down Flight PS752 in January 2020 say they are not sorry to hear of the death of Iran's president.
Public libraries in Atlantic Canada are now lending a broader range of items.
Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
A B.C. woman says her service dog pulled her from a lake moments before she had a seizure, saving her life.
A Starbucks fan — whose name is Winter — is visiting Canada on a purposeful journey that began with a random idea at one of the coffee chain's stores in Texas.
Members of Piapot First Nation, students from the University of Winnipeg and various other professionals are learning new techniques that will hopefully be used for ground searches of potential unmarked grave sites in the future.
ALS patient Mathew Brown said he’s hopeful for future ALS patients after news this week of research at Western University of a potential cure for ALS.