TREB reports Toronto home sales up 18.9 per cent in May from last year

TREB reports Toronto home sales up 18.9 per cent in May from last year
TORONTO — The Toronto Real Estate Board says the market is shifting to favour sellers as the number of home sales jumped in May and the number of listings barely budged. It says there were 9,989 sales in May, up 18.9 per cent from the 15-year low for the month hit last year, while listings grew by only 0.8 per cent to 19,386. The tightening market helped... Read More

Montreal aims to find affordable-housing fix that has eluded Toronto, Vancouver

Montreal aims to find affordable-housing fix that has eluded Toronto, Vancouver
MONTREAL — As Toronto and Vancouver struggle to keep housing affordable for anyone but the wealthy, Montreal says its new, first-on-the-continent development model will help it succeed where other big cities have failed. Montreal led big Canadian cities in 2018 with economic growth of almost 3 per cent, while its real estate market outperformed Toronto and Vancouver’s for the first time since 1998.... Read More

Economy posts another weak quarter of growth, but shows signs of rebound

Economy posts another weak quarter of growth, but shows signs of rebound
OTTAWA — Canada’s economic expansion remained sluggish in the first three months of the year, giving the country its weakest back-to-back quarters of growth since 2015. But stronger data for March — the final month of the first quarter — suggests Canada’s economy is in the process of bouncing back from its hibernation. The economy expanded at an annualized pace of just 0.4 per cent in the first quarter, slightly... Read More

YouTube to shutter its Toronto creator space

YouTube to shutter its Toronto creator space
TORONTO — YouTube says it’ll close the company’s only permanent Canadian studio later this year as it shifts strategies. The media giant sent an email on Thursday to its online creator community outlining plans to replace its Toronto studio with a “pop-up” approach that’ll roll out temporary studios in different regions of the country. It says the move will help YouTube’s production assets reach... Read More

Fitch Ratings agency upgrades rating outlook for Ontario from negative to stable

Fitch Ratings agency upgrades rating outlook for Ontario from negative to stable
TORONTO — Fitch Ratings agency has upgraded its rating outlook for Ontario from negative to stable and is maintaining its credit rating at AA-. Fitch says that is based on the expectation that Ontario will balance its budget in 2023-24, as the Progressive Conservatives promised in their recent budget. The agency says it will be “challenging” for the government to keep... Read More

Bank of Canada to weigh in on economy, expected to leave interest rate unchanged

Bank of Canada to weigh in on economy, expected to leave interest rate unchanged
OTTAWA — Bank of Canada governor Stephen Poloz is widely expected to leave his trend-setting interest rate unchanged today — and he appears in no hurry to move the rate any time soon. The policy announcement will come at a time when the economy is starting to show signs of picking up its pace after a winter deceleration that was largely caused by a drop in oil prices.... Read More

Liberals push forward with ratification of new NAFTA in House of Commons

Liberals push forward with ratification of new NAFTA in House of Commons
OTTAWA — The federal government has moved forward in Parliament with the ratification of the new North American free-trade agreement as the legislative clock ticks towards a summer adjournment and fall election. Foreign Affairs Minister Chrystia Freeland tabled a Ways and Means motion in the House of Commons this afternoon to lay the groundwork for ratifying the new pact. Freeland... Read More