Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy.

Bank of Canada is now less concerned rate cuts will drive up home prices

The Bank of Canada is now less concerned about home prices spiking as it lowers its benchmark interest rate, minutes from the governing council’s latest meeting show.

Rent growth across Canada slowest in 2 years, report says

Rents are up nationally, but there is some good news for renters — the rate of growth is the slowest it’s been in 31 months.

Calm returns to Wall Street as U.S. stocks stabilize following recent volatility

Stocks closed higher on Wall Street as calm returned to the market a day after its biggest pullback in almost two years.

Unemployment rate unchanged in July, though jobless rate for young people continued to rise

Canada’s economy shed 2,800 jobs in July while the unemployment rate was unchanged at 6.4 per cent, Statistics Canada said last week.

Government of Canada to announce support for marine research

Darren Fisher, Member of Parliament for Dartmouth – Cole Harbour, will announce funding for two projects that will enable public and private organizations in the marine sector to make informed decisions using real-time data.

Airlines flee small cities, cutting key links to the rest of Canada

The 30 biggest airports in Canada have seen passenger capacity return to 98 per cent of 2019 levels on average, according to the Canadian Airports Council. The next 30 are at barely 70 per cent.

First-time homebuyers can now apply for a 30-year mortgage.

First-time homebuyers who are purchasing newly built homes can now qualify for a 30-year mortgage, giving them five additional years to pay off an insured mortgage. For other mortgages where default insurance is required, a 25-year amortization limit is still in place.

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