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Canada's New Groceries & Essentials Benefit: What It Means for Your Wallet in 2026

  Big news for Canadian households: the federal government has just unveiled the Canada Groceries and Essentials Benefit — and if you qualify, money could land in your bank account as early as June 2026 . With the cost of living still squeezing budgets from coast to coast, this is one announcement you don't want to miss. Here's everything you need to know — and more importantly, how to make the most of it. How Much Money Are We Talking? The amounts are significant. According to the federal government's Spring Economic Update 2026: Families of four: Up to $1,890 in 2026, and approximately $1,400/year for the next four years. Single individuals: Up to $950 this year, and around $700/year through 2030. Payments begin: June 2026 This benefit is a 25% increase on the former GST Credit , now renamed and boosted for five years. If you already receive the GST Credit, you should automatically be considered — no new application needed. 📌 Bonus: The government has also made th...
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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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