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Weekly Market Snapshot: TSX Hits Record High, Then Retreats as Fed Shocks Markets

  Week of June 16–20, 2026  |  Published June 20, 2026 It was a week of records and reversals for Canadian investors. The TSX touched an all-time high midweek before a hawkish surprise from the U.S. Federal Reserve and falling oil prices — triggered by the U.S.–Iran interim peace deal — pulled markets lower into Thursday's close. Here's everything that moved the needle for your portfolio and wallet this week. 📊 Weekly Market Scorecard Index / Asset Level (June 19 Close) Week Change S&P/TSX Composite 34,857 ▼ Mixed (high: 35,629 Wed.) S&P 500 (USD) 7,500.58 ▲ +1.08% (Wed.) Dow Jones (USD) 51,564.70 ▲ +0.14% (Wed.) Nasdaq (USD) 26,517.93 ▲ +1.91% (Wed.) WTI Crude Oil (USD/barrel) ~$76.54 ▼ Sharp weekly decline Gold (USD/oz) ~$4,157 ▼ Fell on hawkish Fed CAD/USD (Loonie) ~$0.7068 ▼ Under pressure Note: U.S. markets were closed Friday, June 20, for the Juneteenth National Independence Day holiday. TSX figures reflect Thursday's close. 🇨🇦 TSX: A Record High That Did...
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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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