‘Great Renewal' drives Alberta's mortgage market
The 'Great Renewal' is underway across Canada, including Alberta, with significant increases in mortgage activity for renewals and refinancing.
Article content
A recent report from Equifax Canada from late May noted that mortgage activity soared in the first quarter of 2025 (ending March 31), increasing nearly 58 per cent year over year. Most activity was for refinancing and renewals as millions of Canadians who got a low-rate mortgage 2020 are now renewing at higher rates.
Article content
Article content
Article content
Renewal and refinancing — which involves seeking a new mortgage term before the existing one expires — were highest in Canada's priciest provinces: British Columbia, Ontario and Alberta.
Article content
Article content
As well, Equifax found about 28 per cent of activity involved borrowers switching lenders. About half of those moved were among mortgage holders moving among the Big Five banks — CIBC, RBC, BMO, TD and Scotia — which highlights intense competition among the largest mortgage providers in the nation, Equifax added.
Article content
Even new mortgages for purchase saw an increase in the first quarter of the year. Equifax noted that first-time homebuyers saw a 40 per cent year-over-year increase.
That said, affordability continued to be challenging.
Article content
What's more, financial stress remained an issue for Canadian households. Mortgage delinquencies increased led by Ontario and B.C. Both saw significant percentage jumps year over year for missed mortgage payments, up nearly 72 per cent and more than 33 per cent, respectively.
Article content
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
an hour ago
- Toronto Star
Canadian, European space agencies reaffirm relations amid political, economic anxiety
LONGUEUIL - Economic and geopolitical turmoil is forcing the Canadian and European space agencies to work together more closely, the organizations' leaders said Friday as they signed a joint statement reaffirming their long-standing collaboration. At the Canadian Space Agency's headquarters south of Montreal, Josef Aschbacher, director general of the European Space Agency, said economic uncertainty and global conflict are pushing Europe's space sector to establish its autonomy — and reassert links with allies.
Canada Standard
2 hours ago
- Canada Standard
Bringing Back the Buzz: The Social Evolution of Online Gaming
The transition from physical casino floors to digital platforms has fundamentally altered the gambling landscape. While online casinos offer unprecedented convenience and accessibility, many players yearn for the vibrant atmosphere that characterizes traditional brick-and-mortar establishments. The challenge for contemporary online gaming platforms centers on recreating that distinctive social energy which transforms casino visits from solitary activities into memorable communal experiences. Why Players in Canada Are Turning to Online Communities The rise of online gambling in Canada has opened up a world of convenience, variety, and privacy. But even the best bonuses and sleekest interfaces can't fully replace the energy of a live casino floor. That's where social features come into play. The roundup of the country's leading online casinos points to a growing trend: the most popular platforms are investing in more than just game variety?they?re building communities. Whether through Discord servers, multiplayer formats, or tournaments with built-in chat features, these options help Canadian players stay connected while gaming solo at home. Operators featured in ValueWalk's guide are increasingly offering robust social functions, including in-game communication and shared experiences. These tools serve not just to replicate the feeling of being surrounded by other players but to foster genuine interaction, competition, and even camaraderie. Live Dealer Games Bridge The Gap Live dealer games represent the most significant advancement in recreating authentic casino atmospheres within digital environments. These platforms connect players with professional dealers broadcasting from specialized studios, complete with high-definition cameras that capture every card shuffle and roulette wheel spin. The technology creates an immersive environment where players observe dealer expressions, hear the authentic sounds of chips and cards, and experience the genuine suspense of real-time gaming. Virtual Lounges Simulate Casino Environments Progressive online casinos have developed virtual lounge spaces where players gather between games. These digital environments simulate casino lobbies and waiting areas, providing dedicated spaces for casual conversation and social networking. Video chat capabilities allow players to see and speak with each other, creating face-to-face interactions that closely mirror physical casino encounters. Avatar Customization Enhances Personal Expression These virtual spaces often feature customizable avatars and personal profiles, allowing players to express their personalities and establish recognizable online identities. Some platforms incorporate virtual reality elements, enabling players to navigate three-dimensional casino environments and interact with other participants more naturally. The technology continues evolving to support larger group gatherings and special events that bring communities together. Discord Communities Connect Gaming Enthusiasts Many online casino enthusiasts have embraced platforms like Discord as gathering places for their gaming communities. These applications provide persistent chat rooms where players discuss strategies, share experiences, and coordinate group gaming sessions. Voice chat capabilities enable real-time conversations during gameplay, recreating the social commentary that naturally occurs around casino tables. Tournament Organization Fosters Competition These communities often organize tournaments, challenges, and special events that foster competitive camaraderie. Members share screenshots of significant wins, offer support during losing streaks, and celebrate collective achievements. The platform's integration with streaming services enables players to broadcast their gaming sessions, creating entertainment content while fostering audience engagement. Multiplayer Tables Encourage Strategic Thinking Multiplayer poker tables and tournament structures naturally encourage social interaction by bringing players together with common objectives. These formats require communication and strategic thinking that extends beyond individual gameplay decisions. Players develop reputations within gaming communities, form alliances, and engage in the psychological aspects of competitive gaming that define traditional casino poker rooms. Regular Tournaments Create Social Routines Tournament chat functions enable participants to discuss hands, analyze strategies, and build relationships that continue across multiple events. Regular tournament schedules create anticipation and foster routine social gatherings, much like weekly poker nights or monthly casino visits. The competitive element adds excitement while the social component maintains engagement between actual gaming activities. Social Media Integration Extends Connectivity Modern online casinos increasingly incorporate social media integration, allowing players to share achievements and invite friends to join gaming sessions. Mobile applications include about friends' activities and achievements, maintaining awareness of community members' gaming experiences. Some platforms offer gift-giving features, enabling players to send virtual tokens of appreciation or celebration to fellow participants. Augmented Reality Shapes Future Gaming Mobile casino apps are now introducing , which mixes digital content with the real world. Because of these technologies, people may soon be able to experience casino nights in their homes through virtual means, while remaining in touch with friends far away. Online casinos are committed to keeping gambling fun by developing social features. Although technology improves, socializing and interacting with others remain the primary factors that attract people, so digital platforms create new ways to replicate the charismatic atmosphere found in land-based casinos.
Cision Canada
4 hours ago
- Cision Canada
MTL Cannabis Corp. Announces Shareholder Alignment Initiative
PICKERING, ON, June 6, 2025 /CNW/ - MTL Cannabis Corp. (CSE: MTLC) ("MTL" or the "Company") announced today its shareholder alignment initiatives through the implementation of a long-term incentive plan ("LTIP"). In connection with the approval of the LTIP, executive officers were granted restricted share units ("RSUs") and deferred share units ("DSUs"), with deferred vesting. This initiative reflects the Company's commitment to aligning the executive team interests with shareholders and to support retention and leadership stability. The grant was comprised of two million RSUs and three million DSUs, with the RSUs vesting annually in arrears over three years and the DSUs vesting on the third anniversary of the grant. About MTL Cannabis Corp. MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc. ("MTL Cannabis"), a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions. As a flower-first company built for the modern street, MTL Cannabis uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis focuses on craft quality cannabis products, including lines of dried flower, pre-rolls and hash marketed under the "MTL Cannabis", "Low Key by MTL" and "R'belle" brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. MTL Cannabis has also developed several export channels for bulk and unbranded GACP quality cannabis. It is MTL's goal for Abba Medix Corp. to become the leading distributor of medical cannabis in Canada and for Canada House Clinics to be the leading Canadian provider of medical cannabis clinic services. For further information, please visit or the Company's public filings at Cautionary Statement Regarding Forward-Looking Information. This press release contains forward- looking statements, including statements that relate to, among other things, the Company's clinic, production and technology businesses, its future plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material assumptions used to develop forward-looking information in this news release include, the regulations related to cannabis use under the Cannabis Act (Canada); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities and repay its outstanding indebtedness; level of competition; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; the ability to execute strategic plans; continued integration of business unit, expansion activities at all our operating locations; and the leveraging of cash flow from operations to accelerate growth and further improve the Company's balance sheet. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Listing Statement dated August 14, 2023 and its most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
