What is the minimum down payment in Canada?
A big factor in Canadians’ ability to purchase a home is having the down payment—the amount of money a buyer pays up front when purchasing a property. This amount is taken off the purchase price of the home and is subsequently not included in the mortgage loan. So, the larger your down payment, the better—you’ll pay down your mortgage faster and pay less interest over time, and you’ll likely be able to purchase a more expensive house…
U.S. inflation battle: Mission not accomplished
Despite increasing interest rates and hawkish talk from the U.S. Federal Reserve chair Jerome Powell, the U.S. economy doesn’t look to be slowing down anytime soon. The U.S. Consumer Price Index (CPI) update for August came out on Wednesday and the headline inflation rate was higher than anticipated at 3.7%.
On one hand, the continued economic strength is obviously good news for job seekers and Americans trying to negotiate wage increases. If you prefer to focus on inflation rates, though, this labour market strength, combined with resilient price pressures, is really backing the U.S. Fed into a corner as far as raising interest rates is concerned.
In related news, the European Central Bank (ECB) also raised interest rates this week, lifting its key interest rate to 4% from 3…