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5 Things to Know Today: Trump Pauses the Tariffs, but Your Wallet Isn't Off the Hook

  August 19, 2026 Just before midnight, Donald Trump pressed pause on the 50% tariff hit that was supposed to land on Canadian goods this morning. It's not over, and it's not free — here's what actually changed and what still costs you money. 1. Trump paused the 50% tariffs for three days, citing a "deal" Less than two hours before the Aug. 19 deadline, President Trump posted on Truth Social that he was pausing the new 50% tariffs on Canadian dairy, alcohol, and a long list of other goods for three days, saying Canada and the U.S. have a deal "subject to the finalization of documents." Prime Minister Mark Carney was more measured, calling it "substantial progress" while noting "there is important work still to be done." A White House statement said Canada has "expressed a commitment" to address U.S. concerns on alcohol, autos, and dairy — but no signed text exists yet, and the pause is only 72 hours. What it means for you: ...
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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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