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5 Things to Know Today: Midterms Day, Oil Plunge, Trade Deal, Budget (Nov 3)

  Canadian Money Brief • Tuesday, November 3, 2026 It’s Election Day in the United States, oil just had its biggest one-day drop since late July, and Ottawa tables its budget on Thursday. Here are five things to know today, and what each one means for your wallet. 1. U.S. midterms: Canada is watching Americans vote in the midterm elections today. Markets are expecting Democrats to win the House of Representatives, while control of the Senate is still uncertain. Trade policy has been a campaign issue, especially in border states such as Michigan and Maine, where Republican candidates have faced pressure over tariffs that have hurt local businesses. What it means for you: The result could move the loonie, the TSX and the tariff talks over the coming days, but one election night is rarely a reason to rebuild your TFSA or RRSP. If you need to convert Canadian dollars to U.S. dollars soon, expect choppy exchange rates. 2. Oil plunges on Iran diplomacy, then bounces Oil fell sharply o...
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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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