RBC sees home prices falling 14% from recent peak
Canada’s housing markets haven’t bottomed out yet, according to RBC Assistant Chief Economist Robert Hogue, who said in a report this week he thinks home prices will continue to fall as the Bank of Canada increases the cost of borrowing. He thinks prices could fall about 14 per cent from the recent peak nationwide.
Canadians might finally get some relief at the grocery store
The parent company of Sobeys said it’s seeing some encouraging signs that cost increases from food manufacturers have started to stabilize. Empire Co. Chief Executive Officer Michael Medline said “while too early to definitively say that inflation has peaked,” the number and rate of food-price increases are declining.
Most Canadians prefer to work from home
Do you like working from home? According to a survey by the Future Skills Centre, most Canadians (four-out-of-five) say they like working remotely much more than being in the office. BNN Bloomberg’s Hilary Punchard breaks down the results that found all age groups report their mental health is much better working from home, and 42 per cent of workers want to continue with their remote work schedule after the pandemic is over.
Here’s what you need to know about credit card surcharges
There is a regulatory decision pending that could impact how credit card processing fees work. BNN Bloomberg’s Daniel Johnson explains what this adjustment could look like and how it could change the way Canadians pay their bills with credit cards.
– That’s how much the average Canadian owes for every dollar of disposable income. Data from Statistics Canada found residents are falling deeper into debt as they navigate a “trifecta of market challenges,” with weaker housing, equity and bond markets weighing on Canadians’ finances.