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The roughly 75,000 Canadian homeowners awaiting mortgage renewal notices next month are bracing for a shock interest rate jump due to a surprise global bond rally, which will further squeeze already...
Canada's record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from higher borrowing costs but raising debt loads and worrying regulators. Variable rate mortgages in Canada typically require borrowers to make regular payments in fixed amounts. Negative amortization is a situation in which borrowers are adding to the principal and occurs when interest rates climb as high as the trigger rate.
By Nivedita Balu and Fergal Smith TORONTO (Reuters) - Canada's record pace of interest rate hikes has led to the repayment period for many variable ra...
Article content Canadian union Unifor said on Sunday about 900 workers had started strike action at global miner Rio Tinto’s operations in the western Canadian province of British Columbia. Unifor issued a 72-hour strike notice on Wednesday after nearly seven weeks of unproductive talks over proposed changes to workers’ retirement benefits and unresolved grievances. We apologize, but this video has failed to load. Try refreshing your browser, or Canadian union Unifor starts strike at Rio Tinto operations Back to video “Rio Tinto was given every opportunity to reach a fair deal but sho...