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Democrats Win U.S. Congress: What It Means for Canadian Tariffs and Your Wallet

  Canadian Money Brief • Wednesday, November 4, 2026 Democrats have won control of both the U.S. House and Senate, including seats in states Donald Trump carried by double digits two years ago. For Canadians, the big question is simple: does this end the tariffs? The short answer is not yet. What happened The Associated Press and major U.S. networks called the Senate for Democrats late Tuesday night and the House early Wednesday. Democrats flipped seven Republican-held Senate seats, according to Forbes’ tally of AP calls, including Maine, North Carolina, Iowa, Ohio and Texas. In the House, roughly 75 races were still undecided at last report, and the new Congress does not take over until 2027. Democratic leaders framed the result as a call for change, while news outlets widely described it as a rebuke of President Trump. Trump told the New York Times he was “absolutely willing” to accept the results and said Republicans would work with Democrats. Why it matters in Canada Democrati...
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Canadian Rent Market Cools: Average Asking Rent Hits 18-Month Low

Canada’s rental market is showing signs of relief for tenants as average asking rents fell to $2,100 in January 2025—an 18‐month low that represents a 4.4% year-over-year decline.

This marks the fourth consecutive month of annual decreases following 38 straight months of rising rents, indicating a potential turning point in the market.

The drop was most pronounced in the secondary rental market, with condo apartments decreasing by 6.5% and houses and townhomes by 8.9%, while purpose-built rental apartments experienced a modest decline of just 1.7%.

Urbanation President Shaun Hildebrand attributed the downward trend to heightened economic risks, a slowdown in international population inflows, and multi-decade highs in apartment completions, all of which are contributing to improved affordability for renters.

Regional differences remain notable: Ontario recorded the steepest decline, with apartment rents dropping 5.2% to an average of $2,329, whereas British Columbia—despite a 2.6% decrease—remains the priciest rental market at $2,463.

Despite these declines, current rental prices are still 5.2% higher than they were two years ago and 16.4% above rates from three years ago, underscoring persistent pressures in the market.

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