Mortgage prices falling, China expands Canadian canola ban
Lower bond market yields leading to cheaper mortgages
Fixed mortgage rates are falling.
The drop over the last few weeks can be chalked up to the cost of financing getting cheaper. That’s because the bond market, where banks get the money to pay for mortgages, have been falling for close to a year now, with Government of Canada bond yields hitting a two-year low yesterday.
China adds second company to Canadian canola banned list
Bloomberg is reporting China has revoked another Canadian company’s licence to sell it canola. Viterra Inc. joins Richardson International on the banned list.
China says the issue is things like fungus found in grain shipments, but some analysts believe it’s a retaliatory move connected to the arrest of a Chinese telecoms executive, Huawei CFO Meng Wanzhou, in Vancouver last year.
CRA services back up and running
Canadians can resume filing their taxes online today after a glitch in the hardware systems shut down the tax services all day yesterday.
Canada Revenue Agency issued a blanket apology. But by early evening, the agency was tweeting its gratitude for the patience of Canadians in saying the hardware issue had been fixed and all services were back up and running.