It’s Friday, June 19. Here are the top stories we’re following today.
‘Bloodbath for sellers’: Tales from the frontlines of Toronto’s condopocalypse
Four years in, owners, investors and developers have lost fortunes in what may be one of the longest condo corrections on record — and market bottom is still nowhere in sight. Here are some of their stories.
Canadian dollar closing in on 70 cents U.S. on ‘brutal’ selloff — and it might not stop there
The Canadian dollar is at risk of dropping below 70 cents U.S. amid surging demand for the greenback as markets reprice the expectation that the United States Federal Reserve will hike rates instead of cutting them.
Why are so many top financial advisers suddenly being fired for cause?
Given the hundreds (or thousands) of potential infractions of most banks’ codes of conduct, if a financial adviser is targeted, a bank can easily come up with some minor violation to accuse them of, if it is so inclined, writes Howard Levitt.
Why mortgage brokers tend to favour variable rates over fixed
Banks have a reputation for not selling variable-rate mortgages as frequently as brokers. Here’s why brokers favour them over fixed rates.
Regulator cuts big banks’ capital buffer for the first time in three years
Canada’s top banking regulator on Friday reduced the amount of money the big banks must keep aside to absorb unexpected financial shocks for the first time in three years.
