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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 guideGlobe and Mail - Business • 2026-10-21
BMO CEO Darryl White is urging Ottawa to enhance capital access for defence businesses, citing the bank's expanded strategy in the sector. While federal initiat
AI summary
BMO CEO Darryl White is urging Ottawa to enhance capital access for defence businesses, citing the bank's expanded strategy in the sector. While federal initiatives and BMO's own capital deployment are increasing, White suggests further government measures like risk-sharing tools and loan guarantees are needed for small and medium-sized firms. Increased NATO spending and defence investments are projected to significantly impact Canada's economy and attract private sector capital.
Key takeaways
- BMO is expanding its defence sector growth strategy.
- CEO calls for more government support for defence financing.
- NATO spending is expected to boost Canadian economic growth.
Globe and Mail - Business • 2026-10-20
Bank of Montreal has appointed Tim Cox as its new U.S. country head, succeeding Darrel Hackett who will transition to an executive vice-chair role. This leaders
AI summary
Bank of Montreal has appointed Tim Cox as its new U.S. country head, succeeding Darrel Hackett who will transition to an executive vice-chair role. This leadership change comes as BMO aims to improve the profitability of its U.S. operations, which have underperformed expectations. Cox's appointment signals the bank's continued focus on reviving its U.S. business for growth.
Key takeaways
- BMO appoints new U.S. head, Tim Cox.
- Outgoing U.S. head Darrel Hackett moves to advisory role.
- Bank aims to boost U.S. division profitability.
Globe and Mail - Business • 2026-10-20
An increasing number of Canadians are purchasing their first homes in their 40s, a trend that introduces a complex interplay between mortgage obligations and re
AI summary
An increasing number of Canadians are purchasing their first homes in their 40s, a trend that introduces a complex interplay between mortgage obligations and retirement savings goals. This demographic shift highlights the challenges of balancing significant financial commitments like homeownership with long-term financial security. Financial planners are advising on strategies to navigate these competing priorities for individuals entering the housing market later in life.
Key takeaways
- More Canadians are buying first homes in their 40s.
- Homeownership competes with retirement savings for older buyers.
- Financial planners advise on balancing mortgages and retirement.
Globe and Mail - Business • 2026-10-20
Markets are increasingly anticipating a Bank of Canada interest rate hike this month, despite mixed inflation data showing a slowdown excluding gasoline prices.
AI summary
Markets are increasingly anticipating a Bank of Canada interest rate hike this month, despite mixed inflation data showing a slowdown excluding gasoline prices. Business sentiment has weakened, with more firms planning to pass on cost increases, while consumer spending plans have declined. A potential rate hike could impact variable mortgage rates and the Canadian dollar, while fixed-rate borrowers face upward pressure from rising bond yields.
Key takeaways
- Markets now price in a high probability of a Bank of Canada rate hike.
- Inflation excluding gas eased, but business sentiment and spending plans weakened.
- A rate hike could increase variable mortgage rates and strengthen the loonie.
Globe and Mail - Business • 2026-10-19
Rising interest rates are increasing the financial risk for Canadians who plan to retire with an outstanding mortgage. Homeowners, particularly retirees, face c
AI summary
Rising interest rates are increasing the financial risk for Canadians who plan to retire with an outstanding mortgage. Homeowners, particularly retirees, face challenges in managing potentially higher mortgage renewal costs due to persistent inflation and volatile bond markets. The trend of carrying mortgage debt into retirement is growing, with liabilities for those aged 65 and up increasing significantly.
Key takeaways
- Higher interest rates pose a risk for mortgage renewals.
- Retirees have limited options to offset increased mortgage payments.
- Mortgage debt among seniors is on the rise.
Globe and Mail - Business • 2026-10-19
Financial markets are now pricing in an approximately 80% chance of a Bank of Canada interest rate hike next week, influenced by hawkish remarks from Governor T
AI summary
Financial markets are now pricing in an approximately 80% chance of a Bank of Canada interest rate hike next week, influenced by hawkish remarks from Governor Tiff Macklem despite recent inflation data showing a slight increase to 3.1%. While headline inflation was driven by gasoline prices and core inflation remains subdued, concerns about sustained high energy costs and rising inflation expectations are prompting a shift in market sentiment. The Bank of Canada is considering whether to raise rates to influence inflation's path back towards the 2% target.
Key takeaways
- Markets favor a Bank of Canada rate hike next week.
- Governor Macklem's hawkish comments are driving market expectations.
- Rising inflation expectations are a key concern for the BoC.
Globe and Mail - Business • 2026-10-19
Canada's annual inflation rate rose to 3.1% in September, primarily driven by a significant increase in gasoline prices. Shelter costs also saw an uptick, influ
AI summary
Canada's annual inflation rate rose to 3.1% in September, primarily driven by a significant increase in gasoline prices. Shelter costs also saw an uptick, influenced by higher mortgage insurance and home maintenance expenses. This inflation data is the Bank of Canada's final report before its upcoming interest rate decision.
Key takeaways
- Annual inflation reached 3.1% in September.
- Gasoline prices surged 27.8% year-over-year.
- Shelter costs increased due to mortgage insurance and maintenance.
Globe and Mail - Business • 2026-10-18
The Canadian housing industry is advocating for permanent structural reforms to address affordability and supply issues, beyond temporary measures like the HST
AI summary
The Canadian housing industry is advocating for permanent structural reforms to address affordability and supply issues, beyond temporary measures like the HST rebate. Proposed solutions include permanently increasing the HST rebate threshold for new homes and allowing mortgage interest deductibility for homeowners. These changes aim to reduce construction costs, improve home ownership accessibility, and stimulate the housing sector, which is a significant contributor to the Canadian economy.
Key takeaways
- Industry calls for permanent housing affordability solutions.
- Proposed changes include HST rebate threshold increase.
- Mortgage interest deductibility is also suggested.
Globe and Mail - Business • 2026-10-17
Bank of Canada Governor Tiff Macklem anticipates a higher inflation outlook due to elevated oil prices, suggesting the central bank may need to raise interest r
AI summary
Bank of Canada Governor Tiff Macklem anticipates a higher inflation outlook due to elevated oil prices, suggesting the central bank may need to raise interest rates. The bank is closely watching upcoming inflation data and consumer surveys before its next rate decision. While the global economy shows resilience, persistent high energy prices and other intertwined risks pose ongoing challenges.
Key takeaways
- Inflation outlook expected to be revised higher.
- Interest rate hike is a possibility.
- Elevated oil prices are a key concern.
Globe and Mail - Business • 2026-10-17
Toronto-Dominion Bank and Bank of Montreal are among nine U.S. lenders accused by a U.S. regulator of discriminating against customers based on political belief
AI summary
Toronto-Dominion Bank and Bank of Montreal are among nine U.S. lenders accused by a U.S. regulator of discriminating against customers based on political beliefs. Separately, Industry Minister Mélanie Joly warned Stelco's owner of potential divestment if planned layoffs proceed, while McCain Foods announced an acquisition in India's potato processing sector. The article also touches on the growing number of data centres across Canada and a proposed corporate tax reform aimed at boosting investment.
Key takeaways
- Canadian banks face U.S. regulatory scrutiny over alleged political discrimination.
- Stelco layoffs prompt government warning of potential divestment.
- McCain Foods expands its presence in the Indian market.
Financial Post - Banking • 2026-10-16
Toronto-Dominion Bank and Bank of Montreal are named by a U.S. regulator for alleged "debanking" practices, facing scrutiny over potential consequences. Canada
AI summary
Toronto-Dominion Bank and Bank of Montreal are named by a U.S. regulator for alleged "debanking" practices, facing scrutiny over potential consequences. Canada is increasing immigration points for high-wage earners to stimulate economic growth, impacting the labor market. A "Super El Niño" is predicted to bring a mild winter, potentially affecting natural gas demand and prices.
Key takeaways
- TD and BMO face U.S. regulatory scrutiny over "debanking" allegations.
- Canada is boosting immigration points for high-wage occupations.
- A mild winter is forecast due to "Super El Niño."
Globe and Mail - Business • 2026-10-16
Upcoming inflation data and Bank of Canada surveys will inform the central bank's interest rate decision on October 28th. While high energy prices may keep infl
AI summary
Upcoming inflation data and Bank of Canada surveys will inform the central bank's interest rate decision on October 28th. While high energy prices may keep inflation steady around 3%, signs of economic softness could influence the decision. The Bank of Canada remains in a data-dependent wait-and-see mode regarding potential rate hikes.
Key takeaways
- September inflation data and BoC surveys are due Monday.
- Inflation is expected to hold steady around 3% due to energy prices.
- Economic softness may offset inflationary pressures for the BoC.
Financial Post - Banking • 2026-10-16
Bank of Canada Governor Tiff Macklem highlighted that while Canada excels in AI innovation, businesses are slow to adopt the technology, with only a small perce
AI summary
Bank of Canada Governor Tiff Macklem highlighted that while Canada excels in AI innovation, businesses are slow to adopt the technology, with only a small percentage significantly using it in core operations. Macklem noted increased AI investment in early 2026, primarily for everyday tasks, and emphasized the opportunity for AI to boost Canadian productivity and mitigate global economic headwinds. However, he also acknowledged significant risks associated with AI adoption, including cybersecurity concerns.
Key takeaways
- Canadian businesses show low AI adoption in core operations.
- AI investment is increasing for everyday business tasks.
- Cybersecurity is a key risk of AI adoption.
Globe and Mail - Business • 2026-10-16
Bank of Montreal and Toronto-Dominion Bank are among nine lenders accused by a U.S. regulator of denying services to right-wing customers and businesses. Fairfa
AI summary
Bank of Montreal and Toronto-Dominion Bank are among nine lenders accused by a U.S. regulator of denying services to right-wing customers and businesses. Fairfax Financial Holdings is acquiring control of India's IDBI Bank in the largest foreign investment in that country's financial service sector. U.S. inflation accelerated in September, increasing the likelihood of further interest rate hikes by the Federal Reserve.
Key takeaways
- BMO and TD accused of discrimination by U.S. regulator.
- Fairfax Financial to acquire Indian bank IDBI Bank.
- U.S. inflation accelerates, raising rate hike expectations.
Globe and Mail - Business • 2026-10-16
Bank of Canada Governor Tiff Macklem indicated that sustained high energy prices pose a challenge to the current interest rate outlook. He stated that while the
AI summary
Bank of Canada Governor Tiff Macklem indicated that sustained high energy prices pose a challenge to the current interest rate outlook. He stated that while the bank has been looking past recent energy price increases, prolonged elevated levels make it more difficult to maintain the status quo. This suggests that persistent energy price inflation could influence future monetary policy decisions.
Key takeaways
- Sustained high energy prices challenge Bank of Canada's rate outlook.
- Bank has been looking past recent energy price increases.
- Prolonged high energy prices make maintaining current rates harder.
Financial Post - Banking • 2026-10-16
The Canadian Real Estate Association (CREA) has revised its 2026 and 2027 housing market forecasts downwards, citing increased fixed mortgage rates and uncertai
AI summary
The Canadian Real Estate Association (CREA) has revised its 2026 and 2027 housing market forecasts downwards, citing increased fixed mortgage rates and uncertainty around variable rates impacting sales activity. National home sales are projected to decline by 5.2% in 2026, with a modest 0.2% increase in the national average home price, followed by a 4.4% rise in sales and a 1.2% price increase in 2027. These adjustments reflect global energy crisis impacts on inflation and borrowing costs, alongside Bank of Canada rate hike expectations.
Key takeaways
- CREA forecasts a 5.2% decline in national home sales for 2026.
- The national average home price is expected to see a 0.2% increase in 2026.
- Higher mortgage rates and rate uncertainty are key factors in the revised forecast.
Financial Post - Banking • 2026-10-16
Canadian home sales saw a 2.3% month-over-month decrease in September 2026, following a recent period of modest gains. This pullback is attributed to a jump in
AI summary
Canadian home sales saw a 2.3% month-over-month decrease in September 2026, following a recent period of modest gains. This pullback is attributed to a jump in fixed mortgage rates, with further rate hikes anticipated from the Bank of Canada. The MLS® Home Price Index edged down 0.4% monthly and 3.4% year-over-year, while new listings also declined.
Key takeaways
- National home sales fell 2.3% month-over-month in September.
- Fixed mortgage rates increased, impacting buyer activity.
- Home prices saw a 0.4% monthly and 3.4% yearly decline.
Financial Post - Banking • 2026-10-16
Canadian home sales decreased by 2.3 per cent in September compared to August, primarily due to rising mortgage rates impacting buyer activity. The national ben
AI summary
Canadian home sales decreased by 2.3 per cent in September compared to August, primarily due to rising mortgage rates impacting buyer activity. The national benchmark home price also saw a 0.4 per cent dip from the previous month, reaching $652,800. The Canadian Real Estate Association has lowered its sales forecast for the year, anticipating a 5.2 per cent decline.
Key takeaways
- September home sales fell 2.3% month-over-month.
- Higher mortgage rates are impacting buyer demand.
- National benchmark home price declined 0.4% in September.
Globe and Mail - Business • 2026-10-15
A recent J.D. Power survey indicates a slight increase in Canadian customer satisfaction with banks, primarily driven by improvements from the Big Five institut
AI summary
A recent J.D. Power survey indicates a slight increase in Canadian customer satisfaction with banks, primarily driven by improvements from the Big Five institutions. While RBC maintained its top ranking among large banks, fintechs are posing a growing competitive threat, particularly to younger demographics concerned about fees and rates. Many customers remain unclear on how their banks utilize AI, with fraud prevention and data security being preferred applications.
Key takeaways
- Overall customer satisfaction with Canadian banks saw a minor increase.
- RBC ranked highest in customer satisfaction among the Big Five banks.
- Younger customers are more likely to switch banks for better rates and lower fees.
Globe and Mail - Business • 2026-10-15
Former Liberal MP Raj Grewal faces new allegations of mortgage fraud and identity theft from his father-in-law, who claims his businesses and properties were us
AI summary
Former Liberal MP Raj Grewal faces new allegations of mortgage fraud and identity theft from his father-in-law, who claims his businesses and properties were used to secure tens of millions in loans without his knowledge. Multiple lawsuits allege fraudulent diversions of client funds and unpaid loans for real estate development, with some lenders facing claims of negligence and willful blindness. National Bank of Canada is also seeking the return of mortgage funds it alleges were fraudulently diverted, with the father-in-law denying knowledge of transactions and alleging forged signatures.
Key takeaways
- Father-in-law alleges mortgage fraud and identity theft by former MP.
- Multiple lawsuits involve alleged fraudulent diversions and unpaid loans.
- National Bank seeks return of mortgage funds, citing alleged fraud.
Globe and Mail - Business • 2026-10-14
A Senate banking committee report recommends tax reforms to boost capital access for Canadian small and medium-sized enterprises (SMEs), including deferring cap
AI summary
A Senate banking committee report recommends tax reforms to boost capital access for Canadian small and medium-sized enterprises (SMEs), including deferring capital gains taxes on reinvested startup proceeds. The report also suggests expanding flow-through share tax credits to other industries and creating targeted investment tax credits to encourage SME investment. Additionally, it calls for banks to increase lending to startups and for pension funds to invest more in domestic SMEs.
Key takeaways
- Senate report urges tax changes for SME capital access.
- Recommendations include capital gains tax deferral for reinvestment.
- Calls for expanded tax credits and increased bank lending to SMEs.
Globe and Mail - Business • 2026-10-14
Fixed mortgage rates in Canada have increased despite the Bank of Canada holding its policy rate steady, as these rates are primarily influenced by Government o
AI summary
Fixed mortgage rates in Canada have increased despite the Bank of Canada holding its policy rate steady, as these rates are primarily influenced by Government of Canada bond yields. These yields reflect broader economic expectations and lender borrowing costs, with lenders adding spreads for risk and operational expenses. While bond yields fluctuate daily, mortgage rates adjust more gradually, often with a lag and a tendency to rise faster than they fall.
Key takeaways
- Fixed mortgage rates are driven by bond yields, not the Bank of Canada's policy rate.
- Lender borrowing costs and risk assessment influence fixed mortgage rates.
- Fixed mortgage rates adjust more slowly than bond yields, especially when rising.
Globe and Mail - Business • 2026-10-14
Toronto-Dominion Bank and Bank of Montreal are among nine U.S. lenders accused by the Office of the Comptroller of the Currency of denying financial services ba
AI summary
Toronto-Dominion Bank and Bank of Montreal are among nine U.S. lenders accused by the Office of the Comptroller of the Currency of denying financial services based on political or religious beliefs. The regulator's report, covering 2020-2025, found that broad reputational-risk policies lacked clear standards, leading to disadvantaged customers and restricted access for certain industries. Examples cited include BMO's approach to firearms businesses and TD's escalation process for a pro-life organization.
Key takeaways
- Canadian banks TD and BMO named in U.S. regulator's report.
- Accusations of denying financial services based on political beliefs.
- Report highlights issues with reputational risk policies in banking.
Globe and Mail - Business • 2026-10-14
Canada's major banks and telecommunications companies have launched a new platform called the Cross-Sector Anti-Fraud Exchange (CSAFE) to share intelligence on
AI summary
Canada's major banks and telecommunications companies have launched a new platform called the Cross-Sector Anti-Fraud Exchange (CSAFE) to share intelligence on fraudsters. Operated by EnStream LP, the initiative aims to reduce repeat fraud by allowing participating institutions to check for known fraudster activity. This collaboration is part of a broader industry and government effort to combat rising fraud losses across the Canadian economy.
Key takeaways
- Banks and telecoms launch fraud intelligence-sharing platform.
- CSAFE aims to minimize repeat fraud across organizations.
- Platform complies with privacy laws, sharing only confirmed fraudster data.
Financial 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.