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CanadianBankNews - 2026-07-12
Canada's housing supply shortage remains a long-term affordability issue. Even when rates move or sales slow, new construction, zoning reform, labour capacity and project financing still shape how quickly homes can be added.
- Housing supply is an affordability issue, not only a real estate market issue.
- Construction delays, approvals and financing can limit how quickly new homes are built.
- First-time buyers should compare affordability using current rates and realistic monthly costs.
Read fixed guideCanadianBankNews - 2026-07-11
RBC Avion Rewards is our No. 1 overall pick for Canadian bank loyalty because it offers a broad major-bank ecosystem and flexible travel-oriented redemption choices, but the best program depends on how each Canadian earns and redeems rewards.
- RBC Avion is the strongest overall program for flexible travel and redemption choice.
- Scene+, TD Rewards, CIBC Aventura and BMO Rewards are worth comparing.
- Cash back may be better than points for readers who want simple dollar value.
Read fixed guideCanadianBankNews - 2026-07-12
If scammers drain your account, your bank's responsibility depends on whether the transaction was unauthorized, whether you protected credentials, how quickly you reported it, and what the investigation finds.
- Unauthorized fraud and authorized payment scams are treated differently.
- Report suspicious activity to your bank immediately and keep the case number.
- If you disagree with the bank's decision, escalate through the bank, then OBSI where eligible.
Read fixed guideFinancial Post - Banking • 2026-10-14
Toronto's municipal land transfer tax is facing criticism for potentially hindering the housing market and making homeownership less attainable. The tax, paid
AI summary
Toronto's municipal land transfer tax is facing criticism for potentially hindering the housing market and making homeownership less attainable. The tax, paid by purchasers, adds significant costs to home sales, with higher rates applied to luxury properties. Discussions around reducing or eliminating the municipal portion of this tax are emerging as a key issue in local elections.
Key takeaways
- Toronto's municipal land transfer tax adds substantial costs to home purchases.
- Higher land transfer tax rates apply to luxury properties in Toronto.
- The tax is a point of discussion in Toronto's municipal election.
Globe and Mail - Business • 2026-10-13
Simplii Financial, a CIBC-owned digital bank, is launching new tools and a new account type to attract self-directed banking clients. Features include bank acco
AI summary
Simplii Financial, a CIBC-owned digital bank, is launching new tools and a new account type to attract self-directed banking clients. Features include bank account folders for organizing finances and a payment backup to prevent insufficient funds fees. The bank is also partnering with CIBC Investor's Edge to integrate investment capabilities.
Key takeaways
- Simplii Financial introduces new banking tools for DIY clients.
- New features include account folders and payment backup.
- Integration with CIBC Investor's Edge for investing is available.
Globe and Mail - Business • 2026-10-13
Bank of Canada Governor Tiff Macklem is attending international financial meetings where central banks are discussing the impact of trade disruptions and high e
AI summary
Bank of Canada Governor Tiff Macklem is attending international financial meetings where central banks are discussing the impact of trade disruptions and high energy costs on growth and inflation. Recent job losses in Canada have raised concerns about economic momentum, though some economists suggest the figures may be skewed by demographic shifts. Meanwhile, U.S. banks are reporting earnings amidst investor worries about rising interest rates and their potential impact on lending and deal-making.
Key takeaways
- Governor Macklem to discuss inflation and growth impacts at global financial meetings.
- Recent Canadian job losses raise economic momentum concerns.
- U.S. bank earnings reflect investor concerns over rising interest rates.
TD - Media Room • 2026-10-13
TD Bank Group is expanding its use of agentic artificial intelligence across its mortgage operations, including funding and discharge processes, to enhance effi
AI summary
TD Bank Group is expanding its use of agentic artificial intelligence across its mortgage operations, including funding and discharge processes, to enhance efficiency and client service. These new AI capabilities automate tasks like document verification and information consolidation, aiming to double colleague productivity in select areas. The bank emphasizes that human oversight remains crucial, with colleagues reviewing AI-generated outputs and retaining responsibility for client-facing decisions.
Key takeaways
- TD is deploying agentic AI in mortgage funding and discharge.
- AI aims to automate document verification and information consolidation.
- Colleagues will review AI outputs and retain decision-making.
Globe and Mail - Business • 2026-10-12
Research suggests that while detached homes are often perceived as ideal for raising children, the key developmental benefit is access to safe, visible green sp
AI summary
Research suggests that while detached homes are often perceived as ideal for raising children, the key developmental benefit is access to safe, visible green space, not necessarily the house type itself. Many Canadians intuitively understand the importance of outdoor space for children, with a significant portion finding housing unsuitable if it lacks private outdoor areas. Current Canadian housing regulations, however, may prevent the construction of diverse housing types, like multiplexes and courtyard apartments, that could provide this essential green space.
Key takeaways
- Access to visible green space is crucial for child development.
- Canadians prioritize outdoor space when evaluating family housing.
- Existing Canadian building codes may hinder diverse housing options.
Globe and Mail - Business • 2026-10-11
Canadian housing policy is increasingly favouring high-density, tall-sprawl developments, often comprising small condominium units, a direction that diverges fr
AI summary
Canadian housing policy is increasingly favouring high-density, tall-sprawl developments, often comprising small condominium units, a direction that diverges from urbanist Jane Jacobs's principles of livable, human-scaled communities. While a recent boom in condominium construction, fueled by low interest rates, has now cooled due to rising rates, developers are shifting towards purpose-built rentals, supported by government subsidies. This policy shift raises concerns about the long-term availability of diverse housing options and the creation of community-focused neighbourhoods.
Key takeaways
- Housing policy prioritizes high-density, tall buildings.
- Interest rate hikes have cooled the condo market.
- Purpose-built rentals are becoming a focus for developers.
Globe and Mail - Business • 2026-10-09
Global interest rates are rising unexpectedly, impacting bond markets and creating pressure on vulnerable governments, with the Canadian housing market showing
AI summary
Global interest rates are rising unexpectedly, impacting bond markets and creating pressure on vulnerable governments, with the Canadian housing market showing some resilience. The exact drivers for these rate increases remain unclear, with various theories including inflation expectations, GDP growth, and geopolitical events. Persistent inflation, exacerbated by climate change impacts on food and energy, alongside shifts in bond ownership towards more volatile investors, are contributing to market instability.
Key takeaways
- Global interest rates are rising without clear explanation.
- Bond markets are experiencing significant price drops and yield increases.
- Climate change is contributing to persistent inflation.
Globe and Mail - Business • 2026-10-09
Canada's labour market experienced a significant decline in September, with 68,000 jobs lost, marking the second consecutive monthly decrease and pushing the un
AI summary
Canada's labour market experienced a significant decline in September, with 68,000 jobs lost, marking the second consecutive monthly decrease and pushing the unemployment rate up to 6.5%. This weakening employment trend reinforces expectations that the Bank of Canada will maintain its current interest rate. The job losses were concentrated in the public sector, particularly in Quebec's education services, and manufacturing also saw a decline, potentially signaling impacts from trade tensions.
Key takeaways
- September saw a loss of 68,000 jobs in Canada.
- Unemployment rate increased to 6.5% in September.
- Job losses may influence Bank of Canada's interest rate decision.
Globe and Mail - Business • 2026-10-09
A new rewards program called Quarters allows Canadians to earn points on everyday spending, including rent payments, which can be redeemed towards home purchase
AI summary
A new rewards program called Quarters allows Canadians to earn points on everyday spending, including rent payments, which can be redeemed towards home purchases, potentially saving on closing costs. Analysis of census data reveals pockets within Vancouver and Toronto have experienced population decline, suggesting potential for increased housing density in these areas. In Saskatchewan, a disciplinary decision for two realtors involved in a large-scale scandal has sparked controversy, with the Saskatchewan Realtors’ Association deeming the penalties insufficient.
Key takeaways
- New program allows earning points for home down payments.
- Some urban neighbourhoods show population decline.
- Real estate agent discipline sparks regulatory debate.
Globe and Mail - Business • 2026-10-08
While recent consumer food inflation in Canada has cooled, farmers are experiencing significant increases in input costs, particularly for fuel and fertilizer.
AI summary
While recent consumer food inflation in Canada has cooled, farmers are experiencing significant increases in input costs, particularly for fuel and fertilizer. These rising farm expenses, which saw an 11% jump in the second quarter, historically foreshadow future consumer price hikes. The current disconnect between farm costs and consumer prices may not persist as diesel prices remain elevated.
Key takeaways
- Farm input costs rose over 11% in Q2.
- Fuel and fertilizer are key cost drivers.
- Rising farm costs may lead to future food inflation.
Globe and Mail - Business • 2026-10-08
Canada's banking regulator, OSFI, is warning that the rapid advancement of artificial intelligence models is increasing cybersecurity and technology sovereignty
AI summary
Canada's banking regulator, OSFI, is warning that the rapid advancement of artificial intelligence models is increasing cybersecurity and technology sovereignty risks within the financial system. The pace of AI development has accelerated, shortening the window for financial institutions to identify and address vulnerabilities. OSFI plans to implement an AI "safety code" to establish basic safety standards while allowing for innovation.
Key takeaways
- AI development is accelerating, increasing financial system risks.
- OSFI is developing an AI "safety code" for Canadian banks.
- AI advances heighten cybersecurity and technology sovereignty concerns.
Financial Post - Banking • 2026-10-08
Entente Education Canada has launched free, non-partisan resources to assist older adults in British Columbia and Ontario with making informed voting decisions,
AI summary
Entente Education Canada has launched free, non-partisan resources to assist older adults in British Columbia and Ontario with making informed voting decisions, focusing on candidates' plans for health, financial security, and well-being. The organization is advocating for comprehensive seniors' strategies, improved healthcare access, and enhanced protections during climate emergencies at provincial and municipal levels. Recommendations also include increasing the payment frequency of Old Age Security and the Guaranteed Income Supplement to improve cash flow for seniors.
Key takeaways
- New resources aid older adults in BC and Ontario elections.
- Focus is on candidates' health and financial security plans.
- Calls for improved seniors' strategies and income support.
Globe and Mail - Business • 2026-10-07
Canada's banking regulator, OSFI, is developing stricter guidelines for banks' use of artificial intelligence due to escalating cybersecurity risks from advance
AI summary
Canada's banking regulator, OSFI, is developing stricter guidelines for banks' use of artificial intelligence due to escalating cybersecurity risks from advanced AI models. These new "safety code" standards aim to enhance cybersecurity and mitigate threats while allowing for innovation. OSFI is also reviewing capital framework impacts on smaller lenders and addressing growing concentrations in private credit and private equity.
Key takeaways
- OSFI is implementing tighter AI guardrails for Canadian banks.
- New regulations will focus on cybersecurity and AI risk mitigation.
- OSFI is also examining capital framework impacts on smaller banks.
Bank of Canada • 2026-10-07
The Senior Loan Officer Survey, scheduled for release on November 20, 2026, will gather data on the business-lending practices of Canadian financial institution
AI summary
The Senior Loan Officer Survey, scheduled for release on November 20, 2026, will gather data on the business-lending practices of Canadian financial institutions. This survey aims to provide insights into the current landscape of commercial lending within the Canadian banking sector. The findings will be made public at 10:30 AM ET.
Key takeaways
- Survey focuses on business lending practices.
- Data collected from Canadian financial institutions.
- Release date is November 20, 2026.
Globe and Mail - Business • 2026-10-07
Royal Bank of Canada warns that Canada's energy sector must coordinate supply chains and labour to avoid cost overruns on over $100-billion in proposed infrastr
AI summary
Royal Bank of Canada warns that Canada's energy sector must coordinate supply chains and labour to avoid cost overruns on over $100-billion in proposed infrastructure projects. The report highlights the risk of repeating the expensive delays seen in the last oil sands boom, despite government efforts to expedite approvals and offer tax incentives. Successfully navigating this construction phase could significantly boost Canada's GDP and export revenues, but requires careful management of resources and labour.
Key takeaways
- RBC warns of potential cost overruns in energy infrastructure projects.
- Government initiatives aim to speed up project approvals and offer tax breaks.
- Successful construction could significantly increase Canada's GDP and exports.
Globe and Mail - Business • 2026-10-07
Canadian banks are leading globally in AI adoption, with RBC ranking third and TD at tenth, but they face pressure to demonstrate tangible financial returns fro
AI summary
Canadian banks are leading globally in AI adoption, with RBC ranking third and TD at tenth, but they face pressure to demonstrate tangible financial returns from significant technology investments. While AI deployment is accelerating, only a small percentage of financial institutions have disclosed direct financial results from these initiatives. Several Canadian banks have set targets for AI-driven revenue generation and cost savings, with RBC projecting significant enterprise value by 2027.
Key takeaways
- Canadian banks are top global AI adopters.
- Demonstrating AI's financial benefit is a key challenge.
- Banks are setting AI revenue and cost-saving targets.
Globe and Mail - Business • 2026-10-06
The upcoming thirteenth season of the "Stress Test" podcast, launching October 14th, will explore significant financial decisions Canadians are facing in 2026.
AI summary
The upcoming thirteenth season of the "Stress Test" podcast, launching October 14th, will explore significant financial decisions Canadians are facing in 2026. Topics include the impact of trade wars on investment strategies and the trend of Canadians purchasing their first homes later in life. The podcast will also delve into the earnings of online influencers.
Key takeaways
- New podcast season "Stress Test" launches October 14th.
- Season thirteen will cover financial milestones and major money decisions.
- Topics include investment, home buying trends, and influencer earnings.
Globe and Mail - Business • 2026-10-06
Scotiabank is enhancing its wealth management division by launching a new portfolio management tool, Scotia Global Intelligence, to provide ultra-high-net-worth
AI summary
Scotiabank is enhancing its wealth management division by launching a new portfolio management tool, Scotia Global Intelligence, to provide ultra-high-net-worth clients with a consolidated view of their assets across multiple institutions. The bank is also forging partnerships with Addepar and Marsh to offer institutional-quality advice and guidance on international investments, including alternative assets. These initiatives aim to expand Scotiabank's fee-based income and cater to the complex needs of wealthy investors.
Key takeaways
- Scotiabank launched Scotia Global Intelligence for wealthy clients.
- New partnerships aim to offer institutional-quality investment advice.
- Bank seeks to grow fee-based income from wealth management.
Financial Post - Banking • 2026-10-05
Canadian universities are increasingly partnering with private developers to address student housing shortages, aiming to build more residences with less capita
AI summary
Canadian universities are increasingly partnering with private developers to address student housing shortages, aiming to build more residences with less capital investment from the institutions themselves. These public-private deals, like those at the University of Toronto and Ontario Tech, involve private firms financing and constructing new student housing on university land. This trend is driven by increased foreign student enrolment and the high cost of traditional on-campus development, with financial arrangements varying significantly between institutions.
Key takeaways
- Universities are using private partnerships to build student housing.
- These deals aim to reduce capital expenditure for institutions.
- Foreign student enrolment is a key driver of housing demand.
Financial Post - Banking • 2026-10-05
A new report indicates a significant decline in tips for Canadian hospitality workers over the past two years, with 67% experiencing a decrease. This trend is
AI summary
A new report indicates a significant decline in tips for Canadian hospitality workers over the past two years, with 67% experiencing a decrease. This trend is occurring as tipping becomes more crucial for covering essential expenses for a substantial portion of these workers. The report highlights a strong desire among workers for greater transparency in tip division policies.
Key takeaways
- 67% of tipped workers report decreased tip amounts.
- 43% rely on tips for essential expenses.
- Workers prioritize transparency in tip division.
Globe and Mail - Business • 2026-10-04
A 33-year-old Vancouver resident prioritized aggressive saving and career advancement to purchase a condo in her mid-twenties, making significant lifestyle sacr
AI summary
A 33-year-old Vancouver resident prioritized aggressive saving and career advancement to purchase a condo in her mid-twenties, making significant lifestyle sacrifices. She currently holds a $480,000 mortgage and faces substantial monthly housing costs, including rent for a shared apartment. Her financial strategy involved extreme frugality during her twenties and a focus on increasing her income through sales and side gigs.
Key takeaways
- Individual prioritized saving for housing over social spending.
- Significant mortgage debt is a current financial concern.
- Income has substantially increased through career progression.
Financial Post - Banking • 2026-10-02
Delays in obtaining permits and a lack of coordination between government levels are hindering the federal government's affordable housing initiatives, accordin
AI summary
Delays in obtaining permits and a lack of coordination between government levels are hindering the federal government's affordable housing initiatives, according to Build Canada Homes' chief executive. While the agency has secured financial partnerships and designated federal land for housing, the pace of construction is slower than anticipated. Efforts are underway to streamline project delivery and align partners earlier to accelerate the building of affordable homes across Canada.
Key takeaways
- Permit delays and intergovernmental coordination issues impede housing delivery.
- Build Canada Homes is working to align partners for faster project execution.
- The agency aims to create a scalable and repeatable housing delivery system.
Globe and Mail - Business • 2026-10-02
Ontario homeowners face potential property tax shocks as a six-year freeze on property valuations nears its end, with significant implications for tax bills dep
AI summary
Ontario homeowners face potential property tax shocks as a six-year freeze on property valuations nears its end, with significant implications for tax bills depending on individual home value changes. An unconventional house-sitting strategy allowed a Yellowknife couple to save a substantial down payment for a home in Whitehorse. The Globe's editorial board argues against making mortgage interest payments tax-deductible, citing potential price inflation and negative impacts on federal finances.
Key takeaways
- Ontario property tax valuations have been frozen since 2016.
- House-sitting helped a couple save $72,000 for a down payment.
- Deducting mortgage interest could inflate housing prices.
Financial Post - Banking • 2026-10-02
Toronto's infrastructure, particularly its roads, is deteriorating, with a significant portion deemed in poor condition and projected to worsen. Despite increa
AI summary
Toronto's infrastructure, particularly its roads, is deteriorating, with a significant portion deemed in poor condition and projected to worsen. Despite increased municipal spending and property taxes, the city faces challenges with public transit reliability and affordability, leading to a decline in its overall quality of life. Policy decisions and governance are cited as contributing factors to the city's perceived mediocrity.
Key takeaways
- Toronto's road conditions are declining significantly.
- Municipal spending and taxes have increased.
- Affordability and governance are key concerns for Toronto.
Globe and Mail - Business • 2026-10-01
A senior Bank of Canada official stated that the central bank lacks sufficient tools to address Canada's complex housing affordability issues, as interest rates
AI summary
A senior Bank of Canada official stated that the central bank lacks sufficient tools to address Canada's complex housing affordability issues, as interest rates are too blunt an instrument. Housing's increased economic significance and the limitations of monetary policy in influencing supply-side factors were highlighted. Restoring affordability will require a coordinated, multi-faceted approach beyond the Bank of Canada's mandate.
Key takeaways
- Bank of Canada lacks tools for housing affordability.
- Interest rates are a blunt tool for housing.
- Housing affordability needs multi-government action.
Globe and Mail - Business • 2026-10-01
This headline suggests an exploration of the factors driving increases in bond yields across Canada and the broader implications of these movements for individu
AI summary
This headline suggests an exploration of the factors driving increases in bond yields across Canada and the broader implications of these movements for individuals and the economy. It likely delves into the economic forces influencing bond prices and interest rates, explaining why these shifts are significant for Canadians.
Key takeaways
- Explains the causes of rising bond yields.
- Details the impact of yield changes on Canadians.
- Provides context for economic shifts.
Globe and Mail - Business • 2026-10-01
The Toronto Region Board of Trade is urging Ontario to amend zoning and building code rules, stating the province is unlikely to meet its 1.5 million new homes
AI summary
The Toronto Region Board of Trade is urging Ontario to amend zoning and building code rules, stating the province is unlikely to meet its 1.5 million new homes goal by 2031 due to regulatory fragmentation and outdated requirements. The board proposes a provincial zoning code and building code assessments to streamline development and reduce costs. These recommendations aim to address the significant housing gap and affordability challenges in the Greater Toronto Area.
Key takeaways
- Ontario projected to miss housing target by over 550,000 homes by 2029.
- Board of Trade calls for provincial zoning code and building code reform.
- Housing affordability remains a significant concern in the Toronto market.
Financial Post - Banking • 2026-10-01
Rising mortgage rates and economic uncertainty are expected to prolong home price declines into next year, keeping potential buyers hesitant. Experts suggest th
AI summary
Rising mortgage rates and economic uncertainty are expected to prolong home price declines into next year, keeping potential buyers hesitant. Experts suggest that further increases in borrowing costs could stifle any nascent recovery in the housing market. This environment is contributing to a cautious outlook for real estate transactions across Canada.
Key takeaways
- Mortgage rate hikes may hinder housing market recovery.
- Home price declines are projected to continue next year.
- Economic uncertainty is impacting buyer activity.