Latest news with #BankofMontreal
Globe and Mail
7 hours ago
- Business
- Globe and Mail
Crunch time for Toronto home sellers as spring market heralds burst of activity
The final weeks of the 2025 spring real estate market may bring a burst of activity in Toronto: buyers with children prefer to move before the start of the new school year, while sellers are aware that the traditional summer slowdown is looming. The calendar creates some urgency for both sides in the family home segment of the market. Heading into June, homeowners with a property for sale may decide to trim their asking price or become more willing to bend in negotiations. And, as fewer fresh listings come on, many buyers are willing to take a second look at the current stock. 'Every deal has a story' in Toronto real estate In the condo segment, many buyers are overwhelmed with choice and slow to make a decision. Southern Ontario remains in the grips of a housing correction, which lower mortgage rates have yet to relieve, says Robert Kavcic, senior economist at Bank of Montreal. The sales-to-new listings ratio in the Greater Toronto Area and other Ontario cities points to the softest conditions since the mid-1990s, Mr. Kavcic says in a note to clients. A glut of condo supply in the GTA is pulling down prices, he adds. Caps on immigration have also put significant downward pressure on rents, keeping investors on the sidelines. Mr. Kavcic expects the Ontario housing market to remain soft as long as trade uncertainty clouds the economic outlook. In the GTA's established west-end neighbourhoods such as Baby Point, Bloor West Village, the Kingsway and Old Mill, sellers who were holding off listing during the early spring moved ahead in May. 'It's like the floodgates opened,' says Nutan Brown, real estate agent with Royal LePage Terrequity Realty. Properties have changed hands in many price segments on the east and west side of the Humber River this spring, but there are also several sitting on the market. 'Offer dates come and go,' she says of some sellers who have tried to spark competition with a deadline for submitting bids. In family-friendly Bloor West Village, very few listings were left standing at the end of May. 'If it is priced well, presents well, it's moving,' Ms. Brown says. Buyers in all tranches of the market tend to be calm and less driven by emotion, she adds. 'They are definitely doing their math a lot more.' Ms. Brown says the current dynamics favour move-up buyers because they may be able to negotiate a good deal on a higher-priced property, but many are nervous about making the jump to a new home if they haven't sold their existing property. For many, it would be a hardship to carry two properties. 'Unless they get a real deal – if they get a really good deal on the move-up, then they're willing to take the chance,' she says. In the exclusive enclave of Baby Point on the east side of the Humber River, prices range from $3.5-million for an entry-level home to $12-million or above for the grander houses backing onto the ravine. At the end of May, a detached house in the area listed with an asking price of $2.745-million drew two offers but still sold below asking at $2.7-million, says Ms. Brown. While lots of homeowners remained optimistic about prices in 2024, many are more realistic in 2025, she says. 'Sellers do recognize it's a different time. There's enough evidence to convince them of that.' Records show, for example, that one property in Baby Point was first listed with an asking price around the $4.5-million mark in February, 2024. The house languished for a time and eventually the price was reduced to $4-million. The home sold in April of this year for $3.5-million. Another property at 79 Baby Point Cres. is currently listed for $6.4-million. The five-bedroom detached house overlooking the Humber River had an initial asking price of $7.8-million earlier in the spring. 'You need sellers to understand that it's going to take a significant shift to get some traction in the market,' Ms. Brown says. 'You have to show buyer's you're motivated.' One home in the area that needed substantial updating was listed with an asking price of $4.5-million and recently sold for $4-million. Some people are willing to take on a project, she says, but the asking price needs to reflect the investment the buyer will need to make. 'Things get tired and dated very quickly.' Lots of condo units are languishing in west end neighbourhoods as supply swells, she adds. Along Lake Ontario to the south, condo inventory in the Humber Bay and Mimico areas has reached new milestones. A swathe of high-rise towers between the Gardiner Expressway and the lake have risen in the past decade, including some recently completed buildings. With sales slumping, many developers have unsold inventory by the time construction is finished and the building is ready to be registered as a condo corporation. Those units are now adding to the supply. In the resale market, spurts of activity come from downsizers and first-time buyers, but sales and showings vary from week to week, says Luke Dalinda, real estate agent with Royal LePage Real Estate Services, As in other areas of the GTA, investors have mostly vanished, and the buyers tend to be people who plan to live in the unit. In late May, there were 328 condo apartments listed for sale in Humber Bay Shores near Park Lawn Road and Lakeshore Boulevard West. 'We've never had over 300 before,' says Mr. Dalinda. 'It's beyond a buyer's market.' Sellers who see their unit languish on the market are often turning to the rental market instead. 'That's a conversation that's happening a lot,' says Mr. Dalinda. 'The landlords you're seeing now are not landlords by choice – they're forced to be landlords.' At the end of May, 250 units were available for lease. In April, Mr. Dalinda drew two offers for a two-bedroom condo listed with an asking price of $1.499-million at Palace Place in the Humber Bay area. Unit 3502 at One Palace Pier Court sold after 32 days for $1.388-million. The successful bidder was a young professional who was buying for the first time, he adds. Mr. Dalinda says the recently renovated unit provided 1,186 square feet of living space and views of Lake Ontario and the city skyline. 'We were a bit aggressive with the price,' acknowledges Mr. Dalinda, but when he listed the unit in March, he hoped that trade jitters would settle down. Instead, April brought more uncertainty and buyers became more indecisive. The units that do sell tend to be spacious and renovated with a view of the water, Mr. Dalinda says. That tranche of buyers favours large units with solid floor plates and thick walls, he adds. 'They like having a suite where they can play a piano and not have to worry about their neighbour.'
Yahoo
a day ago
- General
- Yahoo
Canadian WW I soldier identified 108 years after his death
It's been a mystery for more than 100 years, but the Canadian military has identified a soldier killed in the First World War as Capt. William Webster Wilson. Wilson, an accomplished soldier, left Lindsay, Ont., to fight in France before he was declared missing on Oct. 9, 1916 following a fierce fight known as the Battle of the Ancre Heights – part of the larger Somme offensive. The defence department said his grave was identified by Canada's Casualty Identification Review Board through the use of historical and archival research. "Captain Wilson gave his life to protect our great country and his identification is a reminder of the sacrifices that he and all Canadians who served have made—as well as their families," said Defence Minister David McGuinty in a news release. Wilson's family has been notified about the news and a headstone rededication ceremony will soon take place at Adanac Military Cemetery, in Miraumont, France. Born in Edinburgh, Scotland, Wilson immigrated to Canada and worked in Toronto at the Bank of Montreal, later joining the branch in Lindsay. There, he became a captain with the 45th Victoria Regiment before the declaration of the First World War. He enlisted on Sep. 23, 1914, after travelling to Valcartier, Que. with thousands of men after the war broke out, according to the defence department. "Time will never erase the debt we owe to Canadians like Captain Wilson, who more than 100 years ago sacrificed everything to protect the freedoms we enjoy today," said Veteran Affairs Minister Jill McKnight in a news release. The Commonwealth War Graves Commission first received a report from external researchers regarding a grave of an unidentified captain of the 16th Canadian Battalion back in 2016. The grave's identity was later determined to be Wilson's and confirmed by a review board consisting of historians and forensic scientists. The Casualty Identification Program was established in 2007 and started to formally confirm unidentified graves six years ago. When their identity is successfully found, the headstone is replaced featuring their full identity with a small rededication ceremony. Canadians with missing relatives due to 20th century war efforts can register with the program on this government website.
Yahoo
2 days ago
- Business
- Yahoo
BMO Announces Upcoming Ticker Symbol Change for MicroSectors™ FANG+™ 3× Leveraged ETNs
NEW YORK, June 2, 2025 /PRNewswire/ - Bank of Montreal ("BMO") today announced its plan to change the ticker symbol for the MicroSectors™ FANG+™ 3× Leveraged ETNs due February 17, 2045, CUSIP: 063679385 (the "ETNs"). The ETNs are currently listed on the NYSE Arca, Inc. under the ticker symbol "FNGB." The current and expected ticker symbols for the ETNs are listed in the table below. These changes are expected to be effective at the open of trading on June 24, 2025. ETN Title CUSIP Current ETNTicker Symbol New ETNTicker Symbol MicroSectors™ FANG+™ 3×Leveraged ETNs 063679385 FNGB FNGU* *BMO is reusing the "FNGU" ticker symbol for its new FNGB ETNs after the required "cooling off" period set forth under NYSE Arca, Inc.'s guidelines. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the ETN Prospectus (as defined below). Disclosures The ETNs are not intended to be "buy and hold" investments, and are not intended to be held to maturity. Instead, the ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. The ETNs are designed to reflect a 3× leveraged long exposure to the performance of the gross total return version of the NYSE FANG+® Index (the "Index") on a daily basis, before taking into account the negative effect of the fees and charges. However, due to the daily resetting leverage, the returns on the ETNs over different periods of time can, and most likely will, differ significantly from three times the return on a direct long investment in the Index. The ETNs are designed to achieve their stated investment objectives on a daily basis. The performance of the ETNs over different periods of time can differ significantly from their stated daily objectives. The ETNs are considerably riskier than securities that have intermediate- or long-term investment objectives, and are not suitable for investors who plan to hold them for a period of more than one day or who have a "buy and hold" strategy. Investors should actively and continuously monitor their investments in the ETNs on an intra-day basis, and any decision to hold the ETNs for more than one day should be made with great care and only as the result of a series of daily (or more frequent) investment decisions to remain invested in the ETNs for the next one-day period. The ETNs are very sensitive to changes in the level of the Index, and returns on the ETNs may be negatively impacted in complex ways by the volatility of the Index on a daily or intraday basis. It is possible that you will suffer significant losses in the ETNs even if the long-term performance of the Index is positive. Accordingly, the ETNs should be purchased only by sophisticated investors who understand and can bear the potential risks and consequences of the ETNs that are designed to provide exposure to the leveraged performance of the Index on a daily basis and that will be highly volatile and may experience significant losses, up to the entire amount invested, in a short period of time. For additional information, including a discussion of the risks relating to an investment in the ETNs, please carefully read the pricing supplement and related documents that we have filed with respect to the ETNs (collectively, the "ETN Prospectus"). Investors should review the ETN Prospectus carefully prior to making an investment decision. The ETN Prospectus can be found on EDGAR, the Securities and Exchange Commission (the "SEC") website at: as well as on the product websites at the following links: and Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding the ETNs. Please read those documents and the other documents relating to this offering that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and this offering. These documents may be obtained without cost by visiting EDGAR on the SEC website at Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the ETNs, will arrange to send the pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412. The ETNs are senior, unsecured obligations of BMO, and are subject to BMO's credit risk. Investment suitability must be determined individually for each investor, and the ETNs are not suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters. About REX Shares REX Shares ("REX") is a leading provider of innovative exchange-traded products ("ETPs"). With over $6 billion in assets under management, REX is known for pioneering the MicroSectors™ and T-REX product lines, offering leveraged and inverse exposure to a variety of stocks and market sectors. REX continues to drive innovation through its growing suite of ETPs, serving investors seeking sophisticated trading tools, options-based income strategies, and unique crypto exposures. For more information, please visit or Follow REX (@REXShares) and MicroSectors (@msectors) on X. REX Media Contacts: rexshares@ About BMO Financial Group BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. Bank of Montreal ETNs: +1 (877) 369-5412 Internet: The NYSE FANG+® Index is a product of ICE Data Indices, LLC ("ICE Data") and is used with permission. ICE® is a registered trademark of ICE Data or its affiliates. NYSE® is a registered trademark of NYSE Group, Inc., an affiliate of ICE Data and is used by ICE Data with permission and under a license. ICE Data and its Third Party Suppliers accept no liability in connection with the use of the NYSE FANG+® Index or marks. See the applicable ETN Prospectus for a full copy of the Disclaimer. MicroSectors™ and REX™ are trademarks of REX. The trademarks have been licensed for use for certain purposes by REX. The indices have been licensed for use by REX. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the indices to track general stock market performance. 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Cision Canada
2 days ago
- Business
- Cision Canada
BMO Lowers Fees on Asset Allocation ETFs to Deliver Greater Value to Investors Français
BMO's Asset Allocation Management Fees Among the Lowest in Canada TORONTO, June 2, 2025 /CNW/ - BMO Asset Management Inc. ("BMO AM") today announced it is reducing the annual management fee on some of its most popular asset allocation funds – BMO All-Equity ETF (TSX: ZEQT), BMO Balanced ETF (TSX: ZBAL / ZBAL.T), BMO Conservative ETF (TSX: ZCON), BMO Growth ETF (TSX: ZGRO / ZGRO.T). "BMO is committed to driving innovation across its product line and delivering unrivaled value for investors," said Sara Petrcich, Head, ETFs & Alternatives, BMO Global Asset Management. "We're proud to further lower costs in one of the fastest-growing investment categories – asset allocation ETFs. This move reinforces our unwavering commitment to putting investors first and empowering them to achieve meaningful, long-term financial progress." Effective after the close of business on June 6, 2025, the annual management fee for the ETFs will be reduced as follows: For more information, please visit Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or simplified prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF's simplified prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. "BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence. About BMO Financial Group BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
Bloomberg
5 days ago
- Business
- Bloomberg
Economists Join Traders as Bets on Canada Interest-Rate Cut Fall
Economists are abandoning their calls for monetary-policy easing in Canada next week as traders price in only a small chance of an interest-rate cut and the nation's output beat all estimates. Canada's so-called loonie rose as much as 0.5% to trade at 1.3740 per US dollar on Friday after gross domestic product for the first three months of the year grew faster than at the end of 2024. Bank of Montreal and Royal Bank of Canada now expect no changes in rates next week, contrary to the cut they saw before.
