Housing market continues red-hot run as Feb prices up 1.9%: StatsCan

Canadian housing prices continue to heat up, with Statistics Canada finding that the cost of an average home sold in the country rose at the fastest one-month clip since 1989. Prices rose 1.9 per cent in February from the previous month, according to data released Thursday by Statistics Canada. That comes amid record low interest rates, with scant supply of available homes for sale and household demand for more space driving sales of Canadian homes to a red-hot pace. The price gains will likely fail to quiet the chorus of voices calling out the rapidly rising bubble in Canada's housing market, which doesn't appear set to shrink anytime soon. 

Could the banks deflate a housing bubble?

With the real estate market running at a fever pitch, it isn’t hard to imagine a lot of chatter at Canada’s financial institutions must be about how to control housing risk. Personal Finance Columnist Dale Jackson lays out the tools banks have at their disposal to potentially deflate a bubble.

Gas prices climb higher in Canada, leading to some sticker shock at the pumps 

Gas prices are creeping higher and are poised to keep rising as supply constraints may weigh on the commodity. Statistics Canada said the price of gas rose 6.5 per cent in February from the previous month, leaving Canadians with a bit of sticker shock at the pumps. BMO Capital Markets Chief Economist Doug Porter expects prices to "pop" even higher, pointing out in a recent research note that the cost of gas is up 44 per cent from a year ago. Here are some reasons as to why you may be clutching your credit card tighter at the gas pump. 

U.S. inflation queries hit highest level since 2004 amid food, gas concerns

Worried about inflation? You're not alone. Americans are Googling their obsession with inflation amid record-shattering stimulus and easy monetary policy. According to data compiled by Nordea Bank ABP and Macrobond Financial, Google searches for the term “inflation” this year have hit the highest level since at least 2004 as concerns over rising asset prices migrate from Wall Street to Main Street. U.S. inflation is hitting Americans in two areas felt directly at the household level: gas prices and food costs. Core U.S. inflation rose just 0.1 per cent month-over-month in February, and was up 1.3 per cent over the past year. 

Why you should think twice about sharing your credit card

Most people share their credit cards when someone, maybe a family member, asks for financial help, but this can cause serious harm to the lender if it is used for more than just an emergency. CTV's Chief Financial Commentator, Pattie Lovett-Reid explains the risks of sharing your credit card and the importance of making its intended use clear if you do.

Experts warn young Canadians to be wary of online fraudsters

Online shopping has skyrocketed during the pandemic, so much so that most Canadians probably have their credit card numbers memorized. The problem with the ease of online shopping is the ease in which fraudsters can scam you. With online fraud on the rise over the past year, experts are especially warning young Canadians​ to put in the time and research if where they are buying from is credible. The Alberta Securities Commission even went as far as to create an "Excuse Bot" that generates humorous responses that can help deflect pushy sales agents.

TIP JAR:  "We have years of spending power waiting in the wings"  - Avery Shenfeld, CIBC Capital Markets chief economist, on how consumers will be looking to spend willingly ​when the Canadian economy opens up to pre-pandemic levels.