Financial Post - Dip in inflation may not be enough to stop Bank of Canada from raising rates next month Forecasters are expecting the Bank of Canada to move ahead with another interest rate hike in July, even as they expect the annual inflation rate to slow significantly. Statistics Canada is set to release its consumer price index report for May on Wednesday, providing the most up-to-date inflation reading ahead of the Bank of Canada’s interest rate decision on July 12. Financial Post - Canada's housing market is hot again — expect it to stay that way, economists say The slowdown in the Canadian housing market that marked much of last year appears over as prices and sales increase, and that strength is likely to continue, clipping affordability even more, according to economists at Desjardins Group. Financial Post - Rising mortgage interest costs now biggest factor driving inflation — and they're not done yet Inflation cooled on a month-over-month basis in May, but one factor that has been unrelenting in driving the consumer price index higher is mortgage interest costs — and the pressure is showing no signs of abating. The latest CPI figures, released by Statistics Canada on June 27, showed the upward trend in housing expenses was the single biggest contributor to the month’s 3.4 per cent inflation rate. Financial Post - Insolvencies jump sharply as Canadians struggle with debt more than ever A “sharp” increase in insolvencies in May suggests that households are struggling more than ever with debt. CBC Toronto - Airbnb hosts the latest target of alleged fraudsters seeking to steal identities, get mortgages Imagine temporarily renting out your home on a short-term rental platform like Airbnb. Except, instead of receiving a five-star rating from the person you rent it to, they steal your identity and take out a mortgage worth hundreds of thousands of dollars on your home — without your knowledge or consent. CBC B.C. - Growing calls to extend B.C.'s heat-pump rebates to condos to keep vulnerable residents cool Two years after a deadly heat dome killed more than 600 people in British Columbia, efficient cooling devices remain out of reach for many condo residents — the same people authorities say are the most at risk of dying during extreme heat. Residents and advocates are now raising concerns about what they say is inequity in the province's response to extreme heat, warning it leaves the most vulnerable at even greater risk. The push in B.C. to relocate homes rather than demolish them (CBC British Columbia) Housing drives Victoria council agenda, but takeup on 'missing middle' projects slow (Times Colonist) Repurposed sea cans in Courtenay provide homes for those with no place to live (Times Colonist) Church site potential location for new affordable housing in Duncan (Times Colonist) View Royal wants to test light-rail tech, seeks backing of other municipalities (Times Colonist) CBC B.C. – Dog owners protest proposed leash requirements in Saanich, B.C., parks Victoria Times Colonist – Speedy approval from Victoria council for 43 new housing units Métis Nation B.C. introduces program for first-time homebuyers (Castanet) British Columbia is Canada's least affordable province, study finds (CTV News – Vancouver) Victoria Times Colonist – Humans to blame for all 47 of Vancouver Island's fires: Wildfire Service Victoria Times Colonist – Saanich council to sleep on decision about off-leash dogs in parks The Tyee – The social housing tenants fighting for renter protections Vancouver Sun – B.C. condo dwellers awarded $3,500 for damages by civil tribunal for thumping bass Victoria Times Colonist – Oak Bay issues warning about poisonous 'death cap' mushrooms Vancouver Sun – B.C. economy in for a rough ride, says TD Bank economic forecast Victoria Times Colonist – Saanich council faces tough call on pets in parks strategy Victoria Times Colonist – Theatre company purchases Victoria building for $2.4M, plans to create arts and culture hub CBC B.C. – Hells Angels lose in B.C. Court of Appeal after attempt to stop sale of seized clubhouses Victoria Times Colonist – Saanich restricts unleashed dogs in parks; council unanimously adopts shift Victoria Times Colonist – Starting today, you can book a pharmacist online in B.C. to treat minor ailments Victoria Times Colonist – Long-term ecological corridors envisioned for Island Victoria Times Colonist – Nanaimo seeks developers for key vacant lots in push to revitalize downtown Victoria Times Colonist – Rockland plan would put two new homes on site with house built in 1899 Victoria Times Colonist – Worried about booked up campsites? New feature will give notifications of cancellations Business in Vancouver – Vancouver property taxes could reach 9% every year for five years Victoria Times Colonist – Saanich restricts unleashed dogs in parks; council unanimously adopts shift Victoria Times Colonist – $500M fund in B.C. to help non-profits buy rental buildings, keep rent affordable Another week, another rise in fixed mortgage rates. How high could they go? (CMT) What happens if you only pay interest on your home? (CTV News) Inheritance and Gifts: A Necessary Bridge for Canada’s First-Time Homebuyers (The Deep Dive) Are starter homes still affordable? Here’s how to break into the market (Global News) Want to bet on interest rates? Here’s how – if you can handle the risk (The Globe and Mail) Financeit buys biggest rival to expand monthly lending to Canadian home improvement market (The Globe and Mail) My mortgage lender says I’ve hit my ‘trigger rate.’ What does that mean, and what are my options? (The Toronto Star) The housing crisis could kill Canada’s competitive advantage (National Observer) The cure for Canada’s housing crisis? Boost immigration (The Globe and Mail) Financial Post – Bank of Canada expected to raise interest rates one more time, capping at 5% Financial Post – VIDEO: Immigrants needed as baby boomers retire Storeys – What $1M can get you in 5 major Canadian cities Storeys – Now’s your change to participate in one of Canada’s largest-ever rental surveys Canadian Mortgage Professional – Economic data points to sustained momentum: BMO Economics Canadian Mortgage Professional – When will the Bank of Canada put the brakes on its rate-hike campaign? Bloomberg – Homebuilding set to boost U.S. economy after two-year contraction Canada’s Banking Regulator Raises Capital Requirements Amid Growing Financial Risks (The Deep Dive) Homeowners abandon variable-rate mortgages for fixed-rate alternatives as interest rates rise (Financial Post) Posthaste: Canada's housing market is hot again — expect it to stay that way, economists say (Financial Post) National Post – HOLMES: Long weekend projects Globe and Mail – BMO strategist on housing: ‘If the most interest rate sensitive part of the economy isn’t buckling ... then policy rates likely aren’t high enough’ Toronto Star – Find fireworks annoying? Well, they can feel like ‘the end of the world’ for terrified animals. Here’s how to protect your pets this Canada Day Storeys – Housing market gains ‘here to stay,’ leading to further erosion of affordability Canadian Mortgage Professional – Canadian confidence remains robust amid headwinds, poll says Canadian Mortgage Professional – TD expecting another Bank of Canada rate increase soon Bloomberg – What’s saving the U.S. housing market? The 30-year mortgage Bloomberg – U.S. home prices recover further as buyers battle for tight supply Wall Street Journal – She built a waterfront home in Alaska so remote she can hear whales breathe Business Insider – Forget about a housing market crash, Harvard researchers say. Here are the 4 reasons they say a repeat of the mid-2000s drop in home prices is unlikely Skift – They’re top players in boutique hotels. They see power in brands – and hostels Common Dreams – Analysts say solar is saving Texans from widespread power outages amid extreme heat Fast Company – A wave of small business owners are about to retire. They should sell their companies to their workers Inflation hits 2-year low due to base effects, but unlikely to prevent another Bank of Canada rate hike (CMT) More than two thirds of young Canadians say homeownership is out of reach compared to their parents: BMO (CTV News) Inflation on mortgage rate interest costs hits a record high (BNN Bloomberg) How to use your home equity to pay for long-term care (The Globe and Mail) Lenders now seeing 60-, 70-, even 90-year mortgages as Canadians struggle with rocketing interest rates (Toronto Star) Here’s a list of May inflation rates for selected Canadian cities (Toronto Star) Real Estate Magazine – Rising interest rates spark increase in rental demand as some would-be homebuyers shift strategies Real Estate Magazine – Canadian housing market has "huge" Q2, but challenges loom ahead Financial Post – 3 pitfalls to avoid when trying to improve your credit score Livabl – Townhomes vs. condos: What's the difference? Canadian Mortgage Professional – Rate increases to create cooling effect for homebuyers, says TD Bloomberg CityLab – How one of India’s hottest cities survives extreme heat Canada’s housing policy is failing citizens and newcomers alike (The Globe and Mail) Is multi-generational housing the next big trend? (The Globe and Mail) Vancouver and cities in Ontario top list of most expensive places to rent: Kijiji report (CTV News) Alberta population on track for biggest boom since 1914 (City News) CBC News – Canada welcomes largest number of immigrants in first quarter since at least 1972 Financial Post – Homebuilding costs in Canada soar 51% as population surges Financial Post – Canadians' household debt is high, but risk of major shock is low: economists | 
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