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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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Tragedy at Garrapata Beach: Calgary Father and Daughter Lost to Ocean Waves

A Calgary father died trying to rescue his young daughter from a large wave on Garrapata State Beach, in California.

A heartbreaking incident unfolded on California’s rugged coastline last Friday, when a Calgary family’s trip to Garrapata State Beach ended in tragedy. Yuji Hu, a 39-year-old father from Calgary, and his young daughter were swept into the Pacific Ocean by a powerful six-metre wave while visiting the beach with his wife and two children.

Authorities say the wave suddenly dragged the girl into the water. Hu and his wife rushed to save her, but both were pulled in by the surf. While Hu’s wife managed to make it back to shore, Hu and his daughter were carried farther out. A beachgoer and an off-duty California park officer pulled Hu from the water and attempted resuscitation, but he later died. The girl’s body was located by divers two days later.

Officials described the waves as 15 to 20 feet high (4.5 to 6 metres) at the time, emphasizing the dangers of the area’s unpredictable surf. California State Lifeguards issued reminders that Garrapata’s coastline is notoriously hazardous, urging visitors to exercise extreme caution.

The tragedy has shaken both the Calgary community and those in Monterey County, California. Local authorities expressed condolences, noting the devastating impact on the family. The incident serves as a sobering reminder of the ocean’s power and the risks posed by rogue waves along the Pacific coast.


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