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Why utility stocks, which normally suffer during rate hikes, are some of the TSX’s top performers

Hydro One Ltd. is on a tear.Darren Calabrese/The Canadian Press The conventional wisdom is that when interest rates go up, utility stocks go down, but with the Bank of Canada continuing an aggressive tightening campaign – one that is expected to produce a jumbo hike on Wednesday – there’s a twist to the narrative. Unlike …

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GameStop profits create $150-million pay windfall for executive of Canadian company

At GameStop store in San Rafael, Calif., on Dec. 8, 2021.Justin Sullivan/Getty Images The wild trading in shares of GameStop GME-N in early 2021 created one of the biggest paydays in history for an executive of a Canadian public company. Richard Mashaal, a vice-president of little-known Montreal-headquartered investment company Senvest Capital Inc., SEC-T received just …

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CMHC revises down home price forecast over next two years to adjust for interest rate spike

Although home prices have plummeted since the central bank started raising interest rates in March, CMHC economist chief Bob Dugan said he was ‘leery’ of forecasting a steeper price decline when the housing shortage is so severe.CARLOS OSORIO/Reuters Canada’s housing agency has cut its national home price forecast for this year and next, saying that …

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Cadillac Fairview, Teachers and ex-Shopify exec gamble on a new, old model for online returns: showing up in person

CEO of ReturnBear, Syliva Ng, at the company’s downtown facility in Toronto.Christopher Katsarov/The Globe and Mail The cardigan was right back where it started. After an online shopper clicked the buy button, the gray top was loaded into a delivery truck at the Toronto warehouse of online clothing retailer Franc for a trip across the …

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Peak inflation? Why some prices are tumbling fast

Lumber prices have tumbled in recent weeks.JENNIFER GAUTHIER/The Globe and Mail As inflation rates climb to multi-decade highs across the world, some of the biggest drivers of consumer-price growth have entered a new and welcome phase: Their prices are actually declining. Crude oil, wheat and lumber are among several commodities that have tumbled in recent …

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Delinquent HELOC debt expected to soon rise as interest rates increase, say experts

A house on Hillside Ave, in Toronto’s west end that has been sold, is on May 18.Fred Lum/the Globe and Mail As interest rates tick up, financial experts expect to see delinquency on home equity lines of credit rise in the next few months, especially if inflation refuses to budget. When interest rates rose in …

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Mortgage Rundown: A sinking real estate market requires fast appraisals

Homes in Vancouver in 2019. For homebuyers needing a mortgage, appraisal risk creates anxiety, Robert McLister writes.JONATHAN HAYWARD/The Canadian Press Welcome to Mortgage Rundown, a quick take on Canada’s home financing landscape from mortgage strategist Robert McLister. You can’t get a mortgage without an appraisal and in most regions, appraisal values ​​are dropping like a …

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Canada to enter ‘moderate and short-lived’ recession in 2023, RBC economists warn

A person walks by the Royal Bank of Canada building on Bay Street during the COVID-19 Pandemic in Toronto on Wednesday, May 27, 2020.Nathan Denette/The Canadian Press The Canadian economy will slip into a “moderate and short-lived” recession in 2023 as it copes with rising interest rates and lofty inflation, Royal Bank of Canada warned …

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