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5 Things to Know Today: Tariffs, a CPI Surprise, and the Mortgage Rate Gap

  July 21, 2026 A new round of US tariffs, a surprise inflation dip, and a widening gap between fixed and variable mortgage rates are all moving in different directions today. Here's what's happening and what it means for your money. 1. Washington hits Canada with new 50% tariffs on everyday goods The White House has announced fresh 50% tariffs on a wide list of Canadian exports, including wine, dairy, furniture, hockey equipment, cement, and clothing. The move is framed as retaliation over Canada's dairy quotas, car import rules, and provincial bans on US alcohol. The tariffs take effect August 19 and apply even to goods that would normally qualify duty-free under CUSMA, though energy, potash, fish, and critical minerals are exempt. What it means for you: This round targets export industries, not imports into Canada, so it won't directly raise shelf prices here the way a Canadian tariff on US goods would. The bigger risk is indirect — job pressure in affected sectors ...
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Ottawa’s “Better Homes” Program: A Dual Solution for Climate Change and Affordability

 

Ottawa, the vibrant capital city of Canada, is stepping up its game to address two pressing challenges simultaneously: climate change and the affordability crisis. The recently launched “Better Homes” program aims to empower homeowners to retrofit their dwellings, making them more environmentally friendly while easing financial burdens.

The Better Homes Program: What You Need to Know

  1. Interest-Free Loans: Ottawa homeowners can now apply for low-interest loans to fund home retrofits. These upgrades include replacing windows, adding insulation, installing heat pumps, or setting up electric vehicle chargers. The loan amount is tied to the home’s value, allowing borrowers to access up to 10% of their property’s value, capped at $125,000.

  2. Long-Term Repayment: The loans are repaid over a 20-year period through property tax bills. This innovative approach ensures that the financial burden aligns with the benefits gained from energy-efficient improvements.

  3. Green Transition: Residential buildings contribute significantly to greenhouse gas emissions. By focusing on heating, cooling, and electrifying homes and office spaces, Ottawa aims to reduce its carbon footprint. The Better Homes program encourages homeowners to embrace greener alternatives.

  4. Expert Guidance: The City of Ottawa has partnered with the environmental non-profit EnviroCentre to offer free energy retrofit planners to interested homeowners. These experts guide residents through the retrofit process, ensuring effective implementation.

Why It Matters

  • Climate Action: Retrofitting homes directly impacts Ottawa’s emissions. By enhancing energy efficiency, we move closer to achieving the city’s ambitious goal of net-zero emissions by 2050.

  • Affordability: The Better Homes program recognizes that affordability and sustainability go hand in hand. It empowers homeowners to make cost-effective changes that benefit both their wallets and the planet.

  • Community Engagement: Educating diverse demographics about available support is crucial. City staff play a pivotal role in bridging this gap and ensuring that every homeowner can participate.

As Ottawa pioneers this initiative, it sets an example for other cities grappling with similar challenges. The Better Homes program proves that tackling climate change need not come at the expense of affordability—it’s a win-win for all.


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