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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Canadian Housing Starts Plunge 22% in November as Higher Rates Bite



Canadian housing starts fell by 22% in November from the previous month, missing estimates by a wide margin, as higher borrowing costs hurt groundbreaking on multiple unit and single-family detached urban homes, data from the national housing agency showed on Friday.

The seasonally adjusted annualized rate of housing starts fell to 212,624 units from a downwardly revised 272,264 units in October, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists polled by Reuters expected starts to decrease to 257,100 in November.

As the more difficult borrowing conditions and labour shortages now seem to be showing in the starts numbers, we can expect to see continued slower starts rates in the coming months, according to CMHC’s deputy chief economist Kevin Hughes.


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