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Monday’s CPI Could Decide Your Next Mortgage Payment

  Canada lost 68,000 jobs in September. Inflation is sitting at 3%. The Bank of Canada has to decide on October 28 which of those facts matters more, and on Monday morning one more number lands to help it choose. If you carry a variable-rate mortgage, a HELOC or a renewal this winter, that number has a price tag. Two reports pulling in opposite directions The jobs data came first. Statistics Canada reported on October 9 that employment fell by 68,000 in September, pushing the unemployment rate to 6.5% from 6.4%. It followed a drop of about 42,000 in August, which means more than half of the 181,000 jobs gained between April and July have now been wiped out. Ontario shed 20,000 positions on its own. Markets reacted within hours: the odds of a quarter-point Bank of Canada hike on October 28 dropped to roughly 25% from about 40%, according to LSEG data reported by Reuters. Inflation is telling the opposite story. The consumer price index rose 3.0% year over year in August, matching Ju...
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House Prepares Vote to End Record-Breaking Shutdown

                                   Republicans currently hold a narrow 219-213 majority in the House.

The U.S. House of Representatives is set to vote on a bipartisan deal aimed at ending what has become the longest government shutdown in American history. The shutdown, which has stretched on for weeks, has left hundreds of thousands of federal workers furloughed or working without pay, while critical services have been disrupted nationwide.

The proposed agreement seeks to reopen government agencies and provide back pay to affected employees, while also addressing contentious budget issues that sparked the standoff. Lawmakers from both parties have expressed cautious optimism that the deal could finally restore normal operations and ease the strain on workers and communities across the country.

If passed, the measure would mark a significant turning point in a political impasse that has tested the resilience of federal institutions and the patience of the American public.


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