CTV National News: Questions over Mark Carney's financial assets
Prime Minister Mark Carney has now disclosed a fuller picture of his financial assets to the ethics commissioner. Judy Trinh takes a closer look.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
8 minutes ago
- CTV News
Ontario mortgage delinquencies on the rise and could climb higher still, experts warn
A real estate sign is displayed in front of a house in Toronto in this file photo. THE CANADIAN PRESS/Evan Buhler Mortgage delinquencies appear to be on the rise in both Ontario and the Greater Toronto Area and the numbers could get worse as Canada navigates choppy economic waters, experts say. According to data prepared for the Canada Mortgage and Housing Corporation (CMHC) by Equifax Canada, mortgage delinquencies rose to 0.22 per cent in Ontario for the first quarter of this year. That's up from 0.15 per cent in the first quarter of 2024 and 0.09 per cent in the first quarter of 2023. In Toronto, the mortgage delinquency rate hit 0.23 per cent for the first quarter of 2025. That compares to 0.14 per cent for the first quarter of 2024 and 0.08 per cent for the first quarter of 2023. Specifically, the data tracks the volume of 90-day mortgage delinquencies, which include defaults, but can also refer to late payments. While the rate might not be terribly bad by historical standards, mortgage delinquencies haven't been that high in Toronto since early 2013 and Ontario hasn't seen levels this high since 2016. Equifax reported in February that more than 11,000 mortgages in Ontario recorded a missed payment in the last quarter of 2024. The firm warned that Ontarians are struggling with their mortgages and that mortgage holders are struggling with other forms of debt as well. 'It's concerning,' says Maria Solovieva, an economist at TD Bank. Interest rates, uncertainty are factors Experts say there are two main reasons why mortgage delinquencies are on the rise now. First, the province is seeing a wave of mortgage renewals by people who bought homes with rock-bottom borrowing costs during the pandemic and are now having to renew at higher rates. But in addition to low interest rates, people also had forced savings during lockdown, Solovieva points out. 'So they had these extra funds available for them to put towards repayment,' she says. In that sense, it was predictable that some people might have difficulty making their payments now. 'There's definitely a rise in (delinquencies) associated with coming back to normalcy,' Solovieva says. Jordan Nanowski, CMHC's lead economist for the Greater Toronto Area, agrees. 'I think a rise in delinquencies is expected given that there's a lot of mortgage renewals taking place, so (that) reflects higher mortgage costs,' Nanowski says. The second thing driving up delinquencies, he says, is economic uncertainty finding its way into the labour market. 'There's a lot of economic uncertainty that in itself is already manifesting certain negative impacts,' Nanowski says. 'Especially in certain industries, we're seeing some job cuts and that could be contributing as well. So it's kind of a confluence of the two.' While the data is not clear on this point, Nanowski says the softening of the condo market could well be playing a role in delinquencies if people looking to offload those properties find they are unable to get their money out because of the weaker market. 'There definitely could be individuals that are, let's say, a little bit more tied to their property and if they have issues making payments and they're looking to sell, it's not that easy to sell,' he says. 'So in that type of environment, they might be more likely to be in arrears for longer. So market dynamics are definitely playing a factor there.' Ontario vulnerable as trade war remains unresolved Both Solovieva and Nanowski agree that going forward, Ontario could be in for a rough ride if the ongoing trade war with the United States, sparked by U.S. President Donald Trump's tariff threats, hits the job market. 'We do expect that Ontario specifically will be hit by the trade war a little bit more,' Solovieva says. 'The unemployment rate is already at 7.9 and 7.8 per cent between the two months in May and in June (respectively), so it's larger than average in Canada.' Nationally, unemployment sat at 6.9 per cent in June. 'The economic uncertainty and impacts of potential tariffs could impact employment for a lot of individuals, and that could increase mortgage arrears,' Nanowski says. He points out areas that support industries targeted by the U.S. for tariffs are particularly vulnerable. 'Windsor is probably the most exposed. Same with case Kitchener, Cambridge, Waterloo, St. Catharines, Niagara, Hamilton for steel,' Nanowski says. 'Those are places that mortgage arears might pop up a bit higher if trade tensions and economic uncertainty persist, right? And we're already seeing a bit of impact there. You're seeing some job losses in certain sectors that are more unique to that area.' CMHC could not provide the real number of mortgage delinquencies in Ontario. However, of the nearly 7 million outstanding mortgages in Canada, 0.22 per cent were in arrears in the fourth quarter of last year, according to the corporation. That translates into 15,259 mortgages across the country. Nanowski adds that while the diversified labour market within the Greater Toronto Area is something of a bulwark around Toronto, the GTA is still vulnerable in some places, such as Oshawa, where thousands of jobs are tied to the auto industry. But while there's reason for concern, Solovieva points out that for the time being, mortgage delinquencies still sit at less than a quarter of a percent. 'So it just tells you that, yes, there is strain, especially in those very not affordable regions,' she says. 'But it's not something that will basically, at this point, be a breaking point.' Are you having difficulty making your mortgage payments? CP24 and CTV News Toronto want to hear from you. Email us at torontonews@ with your name, general location and phone number in case we want to follow up. Your comments may be used in a CP24 or CTV News story.
Globe and Mail
38 minutes ago
- Globe and Mail
The Smartest Cryptocurrency to Buy With $1,000 Right Now
Key Points This top cryptocurrency commands 60% of the entire industry's market cap, and it's the largest and most valuable digital asset by far. There is a vast financial ecosystem that supports greater adoption of this crypto. Investors can have confidence in this network's staying power for the long term. 10 stocks we like better than Bitcoin › Recent developments have created a more favorable regulatory backdrop for the cryptocurrency industry. That should gives investors confidence when assessing whether they will put money to work. But among the sea of choices out there, it can feel like an impossible task trying to pick one. I think it's best to keep things simple. If you have $1,000 that you're ready to invest in this exciting asset class, look no further than this top cryptocurrency. I view it as the smartest investment to make in the sector. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Already a winner The entire crypto market is valued at roughly $4 trillion, as of July 24. However, there's one digital asset that reigns supreme. Bitcoin (CRYPTO: BTC), which carries a market cap of $2.4 trillion, represents 60% of the whole industry. I believe it's the best crypto to buy right now with $1,000. Introduced in early 2009, Bitcoin is the oldest cryptocurrency in the world. This gives it a valuable first-mover advantage. It has the brand recognition, as well as the mind share, that puts it ahead of all the other blockchains. Plus, Bitcoin is likely the first place investors look when thinking about allocating capital to cryptocurrency. Bitcoin is also the most liquid. Its market cap is more than five times more valuable than Ethereum 's. Just in the past 24 hours, about $30 billion worth of Bitcoin was sent between addresses. Bitcoin's network effect can't be overstated. There is a large group of developers working on maintaining it, and there are miners and nodes scattered around the globe supporting Bitcoin's functioning. This doesn't mention all the market participants that use Bitcoin. Looking more broadly, Bitcoin has a deep (and growing) financial ecosystem that supports its adoption. Financial services, including exchanges, wallets, payment systems, exchange-traded funds, and custody services, is one robust area that highlights how much development is taking place with Bitcoin. One of the biggest risks was that the U.S. government would ban Bitcoin. This is no longer something to worry about, as Bitcoin has been fully embraced. For example, the White House announced a planned Strategic Bitcoin Reserve, showcasing the importance of owning the digital asset at the federal level. Thinking about the next decade and beyond Warren Buffett is a legendary investor who has found tremendous success because his philosophy centers on owning durable businesses that have stood and will continue to stand the test of time. Investors should adopt the same approach when looking at the cryptocurrency industry. Yes, there will be smaller, more volatile, and more exciting tokens whose prices can skyrocket in a short period of time based on changing investor sentiment. But no one can confidently say that they will even be around a decade from now. Bitcoin stands above the rest. I believe it's the crypto that has the most staying power. It has survived up until now, successfully making it through changing economic conditions and multiple crypto winters, only to bounce back stronger than ever. This gives me confidence that it will not only be relevant, but will be thriving, far into the future. Gold currently has a market cap of $23.1 trillion. For thousands of years, the precious metal has been viewed as the scarcest asset in the world. Bitcoin is even scarcer, with an absolutely finite supply cap of 21 million units. This makes it extremely attractive to own, especially when compared to the excessive spending and rising debt of the U.S. government and other countries around the globe. A $1,000 investment in Bitcoin today could be worth significantly more years and decades down the road. Should you invest $1,000 in Bitcoin right now? Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitcoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,774!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,942!* Now, it's worth noting Stock Advisor's total average return is 1,040% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025
CTV News
2 hours ago
- CTV News
All in on ETFs? Experts share how to diversify your portfolio — without overdoing it
TORONTO — Exchange-traded funds have exploded in popularity, and so have investment strategies based only on ETFs, but some investors might be wondering whether that could lead to their portfolio being too diversified. Financial experts say allocating an entire portfolio to ETFs can be a viable strategy, but it's important for investors to know what holdings are in the funds they're buying. When looking at portfolio diversification for ETF-focused investors, Jonathan Rivard, general principal at Edward Jones, said it's important to consider the individual's time horizon and risk appetite. 'You could absolutely be 100 per cent invested in ETFs. But you want to know what's in the ETF and what the allocation looks like. Some ETFs will be balanced; they'll have a mix of stocks and bonds in them. Some will be sector products,' Rivard said. 'The important thing comes down to understanding what does this basket hold? And if I own multiple ETFs, what does it look like across multiple ETFs in terms of asset allocation?' Prerna Mathews, Mackenzie Investments' vice-president of ETF product strategy, said there are a few key points to keep in mind regarding diversification, notably, it is important to think beyond just diversifying by geography. 'So (if) you're starting with the core Canadian, U.S., international exposure, don't stop there. Think about how fixed income plays a role in your portfolio, real assets, there are thematic products, and there are alternative ETFs. There are a lot of different drivers of return that can be added to a portfolio available in ETF form,' she said. Another consideration is buying ETFs with different investment styles, she said, which may include combining traditional index ETFs with others that are actively managed or have low volatility. Time horizon is also an important consideration, where those with a longer investment horizon may want to focus on growth, she said, taking on more risk with higher equity exposure. Regarding fixed income, Mathews said to be aware of the differences between short- and longer-term yields, adding that most investors will likely not have exposure to every duration of fixed income and should know the relevant trade-offs. 'In some cases, you can get a very attractive yield at the short end of the curve without taking on significant risk as you would on the long end,' she said. 'Really understanding the trade-off there and likely having some short-term fixed income in the portfolio would be viable. But aggregate bonds over a 30-year time period are generally a good place to be.' Mathews said there is also a growing number of investors opting for an asset allocation ETF. She said this type of ETF is essentially eight to 12 ETFs 'all packaged up in one,' and has served as a core holding for those looking for a 'set it and forget it' investment. Despite the benefits of diversification, Mathews said there are dangers to being overly diversified. This might occur for someone investing in Canadian equities through an ETF but also buying into an asset allocation ETF, Mathews said. In that case, the investor may end up with more Canadian equity exposure than anticipated. Similarly, with the TSX financials sector representing around 30 per cent of the overall index, an investor with a TSX-focused ETF and a Canadian banks-focused ETF could end up with too much exposure to Canadian bank stocks. 'There is a risk of having too much product in your portfolio. Sometimes that can creep up on us when we're not doing a full look through to what each ETF might be investing in,' she said. This report by The Canadian Press was first published July 24, 2025. Daniel Johnson, The Canadian Press
