BREAKING Donald Trump picks former U.S. congressman Pete Hoekstra as ambassador to Canada
U.S. president-elect Donald Trump has nominated former diplomat and U.S. congressman Pete Hoekstra to be the American ambassador to Canada.
Nearly one in four homeowners say they will have to sell their home if interest rates go up further, according to a new debt survey from Manulife Bank of Canada.
The survey, conducted between April 14 and April 20, also found that 18 per cent of homeowners polled are already at a stage where they can't afford their homes.
Over one in five Canadians expect rising interest rates to have a "significant negative impact" on their overall mortgage, debt and financial situation, the survey found.
The Bank of Canada remains on a rate-hike path as it tries to tame inflation, which is now at a 31-year high at 6.8 per cent. On June 1, the central bank increased its key interest rate by half a percentage point to 1.5 per cent.
The Manulife survey also found that two-thirds of Canadians do not view home ownership as affordable in their local community.
Additionally, close to half of indebted Canadians say debt is impacting their mental health, and almost 50 per cent of Canadians say they would struggle to handle surprise expenses.
This report by The Canadian Press was first published June 13, 2022.
U.S. president-elect Donald Trump has nominated former diplomat and U.S. congressman Pete Hoekstra to be the American ambassador to Canada.
A group of researchers say they have more evidence to suggest the COVID-19 pandemic started in a Chinese seafood market where it spread from infected animals to humans. The evidence is laid out in a recent study published in Cell, a scientific journal, nearly five years after the first known COVID-19 outbreak.
The average salary needed to buy a home keeps inching down in cities across Canada, according to the latest data.
A London father and son they’re shocked and confused after their home was riddled with bullets while young children were sleeping inside.
Police in Peru have arrested a man caught trying to leave the country with 320 tarantulas, 110 centipedes and nine bullet ants strapped to his body.
Prime Minister Justin Trudeau has announced embattled minister Randy Boissonnault is out of cabinet.
A four-month-old baby is dead after what Toronto police are calling a “suspicious incident” at a Toronto Community Housing building in the city’s midtown area on Wednesday afternoon.
A Saskatchewan woman who refused to provide a breath sample after being stopped by police in Regina did not break the law – as the officer's request was deemed not lawful given the circumstances.
The families of the victims of Paul Bernardo will be allowed to attend the serial killer’s upcoming parole hearing in person, the Parole Board of Canada (PBC) says.
After driving near the water that winter day, Brian Lavery thought he saw a dog splashing in the waves – then realized it was way too cold for that.
Toronto radio and podcast host Jax Irwin has recently gone viral for videos of her cute -- and at times confusing -- phone conversations.
Two young women from New Brunswick have won one of the most prestigious and sought-after academic honours in the world.
Stretching 3,000 kilometres from the tip of New Zealand to its southernmost point, with just a bicycle for transport and a tent to call home, bikepacking event Tour Aotearoa is not for the faint of heart.
When he first moved to his urban neighbourhood, Barry Devonald was surprised to be welcomed by a whole flock of new neighbours.
When George Arcioni began renovating his kitchen last summer, he didn’t expect to find a stack of letters hidden in the wall behind his oven.
A Nova Scotia couple fulfilled their wildest dreams Thursday night when they got engaged at Taylor Swift’s Eras Tour in Toronto.
Some Calgary residents caught what appeared to be a meteor streaking across the sky early on Wednesday morning.
Four years ago, Phill Hebb started up 'Phil’s Unique Birdhouses' and since then, they’ve made their way all across Canada and into the United States.