The housing-charged boom in Canadian net wealth is over: RBC
Rising rates squeezing Canadians at both ends with food affordability
The Bank of Canada hiked interest rates for the sixth-straight time and as rates continue to rise, it could squeeze consumers on both ends with food affordability. Sylvain Charlebois, director of the Agri-Food Analytics Lab at Dalhousie University, said many households will have less money to devote to food, compared to just a few months ago. BNN Bloomberg’s Hilary Punchard has the full story.
How to get the best bang for your buck with holiday travel
Many Canadians might be looking to escape the cold this winter, but with inflation pushing up travel expenses, it’s important to look for deals to help cut costs. A recent report from Expedia recommends booking flights on Sundays to save up to 15 per cent. It also said that Friday is the cheapest day to fly, saving travellers up to 20 per cent on average for flights within Canada. Here are more tips and tricks to keep in mind when planning your holiday getaway.
Here’s how the latest rate hike could impact Canadians’ mortgages
The Bank of Canada’s latest rate hike will continue to impact some Canadians who are looking to pay off their mortgage. Mortgage Strategist Rob McLister said homeowners who have an adjustable-rate mortgage might see their payments increase. When it comes to fixed-rate mortgage owners, McLister said it would depend largely on when they are renewing or refinancing. BNN Bloomberg’s Daniel Johnson has the full story.
Canadians cutting back spending amid downturn concerns
Many Canadian consumers are bracing themselves for an economic downturn next year and some are planning to reduce spending. A survey by Dye & Durham found 30 per cent of respondents have relied more on their savings than they anticipated this year, and more than half of individuals (57 per cent) say they’re going to cut back holiday spending.
A special notice to all Home Economics subscribers
This marks our final edition of the Home Economics newsletter. We want to thank readers for all their support.
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