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Daily Markets Update: Peace Deal Lifts Global Sentiment | June 15, 2026

S&P/TSX Composite (Canada) 34,937.85 +0.77% (+266 pts) Friday close | Strong week building S&P 500 (US) 7,431.46 +0.50% Tech rebounds; AI dominance continues Dow Jones Industrial Average 51,202.26 +0.70% (+354 pts) SpaceX IPO boost lifts sentiment Nasdaq Composite 25,888.84 +0.31% Tech sector stabilizing post-volatility 🔑 Key Market Drivers US-Iran Peace Deal Optimism: Markets rallied Friday after news of a potential deal to reopen the Strait of Hormuz and lift oil sanctions. Oil prices tumbled—crude fell significantly—easing inflation concerns for consumers and businesses across North America. SpaceX Historic IPO: SpaceX opened at $150/share (above its $135 IPO price) and surged to $161.11—a stunning 19% first-day gain. The debut strengthened confidence in mega-cap tech and growth stocks, lifting the entire market sentiment. Canadian Dollar Softening: The loonie dipped to 0.7148 USD on Friday, down from 0.7240 USD earlier in the week. Weakness in commodity prices (especial...
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New home buyers in trouble as mortgage rates soar

Some buyers who purchased preconstruction homes are finding themselves unable to close on their properties due to rising mortgage rates and stricter lending rules. As a result, they are resorting to selling their contracts to other buyers at a discount, or even giving up their deposits and facing legal risks.

According to Robert McLister, an interest rate analyst and mortgage strategist, this trend is creating opportunities for bargain hunters who are looking for assignment deals. These are transactions where the original buyer transfers their rights and obligations to a new buyer before the home is completed.

However, assignment deals are not without challenges and costs. Both assignors and assignees need to get approval from the builder, pay fees and taxes, and secure financing. Moreover, they need to be aware of the market conditions and the potential risks of flipping or renting out the property.

McLister advises buyers to start evaluating their options early and seek professional help from a tax-savvy accountant, a mortgage broker, and a real estate lawyer. He also suggests that buyers should monitor the bond yields and the Bank of Canada’s rate decisions, as they may affect the future demand and prices of new homes.

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