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Toronto Sun
5 days ago
- Business
- Toronto Sun
Many homeowners plan to rein in spending as mortgage payments rise upon renewal: TD
Published Jun 05, 2025 • 1 minute read Townhouses under construction are seen in Delta, B.C., on Monday, Aug. 12, 2024. Photo by DARRYL DYCK / THE CANADIAN PRESS TORONTO — A survey shows nearly half of homeowners facing a mortgage renewal in the next year expect their monthly payments to go up — with many anticipating having to adjust their budget to keep up with the higher cost. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account A TD Bank Group survey, conducted between April 10 and 18, shows 57 per cent of homeowners expect the renewal to impact their living situation and 73 per cent of those say they'll need to cut back on spending. Even as the Bank of Canada has reduced its benchmark interest rate over the past year, borrowing costs are still elevated compared to pre-2022 levels. Nearly a quarter of the 890 homeowners surveyed who are set to renew their mortgage in the next year say they will be adjusting their financial approach. The survey shows 43 per cent of those will be putting renovations on pause, while 29 per cent plan on downsizing. Options such as moving in with a roommate or moving to a different neighbourhood are also on the table. TD's vice-president of product management Patrick Smith says 75 per cent of homeowners are leaning toward a fixed-rate mortgage upon renewal instead of a variable rate. NHL Columnists Columnists Columnists Columnists
Winnipeg Free Press
5 days ago
- Business
- Winnipeg Free Press
Many homeowners plan to rein in spending as mortgage payments rise upon renewal: TD
TORONTO – A survey shows nearly half of homeowners facing a mortgage renewal in the next year expect their monthly payments to go up — with many anticipating having to adjust their budget to keep up with the higher cost. A TD Bank Group survey, conducted between April 10 and 18, shows 57 per cent of homeowners expect the renewal to impact their living situation and 73 per cent of those say they'll need to cut back on spending. Even as the Bank of Canada has reduced its benchmark interest rate over the past year, borrowing costs are still elevated compared to pre-2022 levels. Nearly a quarter of the 890 homeowners surveyed who are set to renew their mortgage in the next year say they will be adjusting their financial approach. The survey shows 43 per cent of those will be putting renovations on pause, while 29 per cent plan on downsizing. Options such as moving in with a roommate or moving to a different neighbourhood are also on the table. TD's vice-president of product management Patrick Smith says 75 per cent of homeowners are leaning toward a fixed-rate mortgage upon renewal instead of a variable rate. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published June 5, 2025. Companies in this story: (TSX:TD)
Cision Canada
6 days ago
- Business
- Cision Canada
Nearly three quarters of impacted Canadian mortgage renewers plan to tighten pocketbooks to keep up with higher payments Français
Prospective buyers are also making concessions, 55 per cent of prospective buyers are reducing non-essential expenses and 31 per cent are drawing from investments TORONTO, June 5, 2025 /CNW/ - As global events continue to introduce financial uncertainty and housing affordability remains top of mind for Canadians, a new survey from TD Bank Group revealed the challenges that mortgage renewers face. Nearly half (45 per cent) of those renewing in the next year expect higher monthly payments and 57 per cent anticipate an impact to their living situation. Of these renewers, 73 per cent say they'll need to cut back on spending to keep up. Despite interest rates generally trending downward in recent months, they have not reached the historic lows that Canadians experienced for over a decade ending in 2022. With nearly a quarter (22 per cent) of those surveyed set to renew their mortgages in the next year, many plan to adjust their overall financial approach: 43 per cent say they will need to put their renovations on pause; 29 per cent say they will need to sell their home and buy a more affordable one, or downsize; 15 per cent say they will need to consider moving in with a roommate to share costs; 15 per cent say they will need to move to a different neighbourhood. "While our survey found that 75 per cent of those preparing to renew their mortgage this year are leaning towards a fixed instead of a variable rate mortgage, it's important to remember that there isn't a one-size-fits-all approach to choosing what will work for you," said Patrick Smith, Vice President, Product Management, Real Estate Secured Lending at TD. "We know Canadians are looking for quick and valuable mortgage advice, and TD is here to support with that. By providing tailored insights, our mortgage specialists can help you understand your options and create a strategy that can work for your unique needs." Despite a cooling of the market in front end of the year, prospective buyers are also considering concessions in the hopes of making a move in the housing market and are adjusting their financial approach to do so. According to survey results, 55 per cent of prospective buyers polled are reducing their non-essential expenses, while 31 per cent are planning on cashing in their current investments, such as Tax Free Savings Accounts, Registered Retirement Savings Plans, and First Home Savings Accounts. The Value of Advice As Canadians continue to pursue their homeownership ambitions, whether purchasing their first home, selling their existing one, or simply looking to better understand the mortgage process, seeking advice is key, yet only 35 per cent of those surveyed have sought out homeownership advice. Nearly four in ten (39 per cent) prospective buyers polled say quick access to advice from a professional would make them more confident in their ability to keep up with the Canadian housing market. "As Canadians navigate a dynamic economy that seems to be evolving daily, we understand how challenging it can be for them to know if they're making the right decision when it comes to real estate," added Smith. "Different factors can impact each individual's home buying decisions in unique ways. No matter their current reality, TD can offer advice to help you make those important financial decisions with confidence." Navigating the Emotions of Homebuying While many Canadians remain steadfast in their pursuit of owning a home, prospective buyers polled admit the process can also stir up mixed emotions. Some Canadians polled feel stress (45 per cent) and anxiety (38 per cent) while navigating the homebuying journey; despite this, Canadians polled also say the process brought on feelings of excitement (34 per cent), hopefulness (33 per cent), and optimism (32 per cent). Although the homebuying experience will be unique for everyone – bringing different challenges, outcomes, and emotions – Canadians looking to make a move in the housing market can benefit from advice as they navigate this stage of their journey. Looking for mortgage help ASAP? Simply answer a few questions and TD Mortgage Direct will match you with a TD Mortgage Specialist who can work with you to provide mortgage advice personalized for your home ownership journey. About the TD Survey This survey was undertaken by The Harris Poll Canada. It ran from the 10th to 18 th of April 2025, with 890 randomly selected Canadian homeowners and 881 randomly selected Canadians planning to buy a home within the next 5 years. A minimum of n100 respondents were surveyed in British Colombia, Alberta, Saskatchewan & Manitoba, Ontario, Quebec and Atlantic Canada for each audience (homeowners and prospective buyers) to allow for comparisons between the regions. The data has also been weighted on age, gender and region to match the 2024 instance of this study to allow for year-on-year comparisons. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of ±3.3% for each audience, 19 times out of 20. Discrepancies in or between totals when compared to the data tables are due to rounding. About TD Bank Group The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.9 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 18 million active online and mobile customers. TD had $2.1 trillion in assets on April 30, 2025. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.
CBS News
02-06-2025
- General
- CBS News
3 men arrested during prostitution sting in Denton County, officials say
Three men were arrested following a prostitution sting in Denton County, officials announced Monday. The Denton County Sheriff's Office said its "Prostitution Demand Suppression Operation" took place on May 29. During the operation, deputies arrested John Holland, of Alvord, Texas; Nicholas Matt, of Denton; and Patrick Smith, of Dallas. According to the sheriff's office, Holland faces a charge of online solicitation of a minor, and Matt and Smith both face charges of solicitation of prostitution. Deputies arrested John Holland, of Alvord, Texas; Nicholas Matt, of Denton; and Patrick Smith, of Dallas. Smith also faces an additional charge of unlawful carrying of a weapon. "This operation aimed to reduce prostitution in our community by arresting individuals attempting to purchase sexual favors for money," the sheriff's office said in a news release. Officials said leads on other people engaging in prostitution were identified too and are currently being investigated by the Denton County Sheriff's Office Human Trafficking Unit.
Toronto Sun
29-05-2025
- Sport
- Toronto Sun
Sha'Carri Richardson joins Team USA stars getting stake in Athlos track league
Published May 29, 2025 • 3 minute read Sha'Carri Richardson Photo by Patrick Smith / Photographer: Patrick Smith/Gett Athlos, the all-female track event founded by Reddit co-founder Alexis Ohanian, is expanding into a team-based league for 2026 and adding field events. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The league will be headlined by Olympic medalists and Team USA standouts Sha'Carri Richardson, Gabby Thomas and Tara Davis-Woodhall, who will all serve as adviser-owners and shareholders in the league. 'For so long, athletes, especially in track, have carried the show but never owned the stage. To have a seat at the table where the decisions get made? That's powerful.' Richardson said in an emailed statement to Bloomberg. Ohanian launched Athlos — the Greek word for contest — last year in an ambitious attempt to shake up women's track, combining music, racing and bigger prize money. Athlos held its inaugural race in September of 2024 at Icahn Stadium in New York City. It showcased six sprint style races, with a DJ playing in between every race and each runner being introduced with a walkout song. They gave away one of the largest prize purse in the sport's history along, with $60,000 for the winners plus a Tiffany's crown. The night ended with a concert by rapper Megan Thee Stallion. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'Athlos isn't just trying to fit track into an old model. It's building something new that honors the athletes, the culture, and the competition in a way that grabs people's attention and makes the sport accessible. That's what's going to push the sport into the mainstream.' Richardson said of how Athlos is set to elevate the sport. The first season drew about 3 million viewers, the company said. Now they will host another race at Icahn Stadium in October of this year before launching the league next year. No specific financials were released about the league, but Athlos confirmed there will be individual prizes per meet, and a team prize for the championship. Giving the founding athletes equity wasn't something planned when they initially signed on to be part of the league. This advertisement has not loaded yet, but your article continues below. 'That wasn't even a part of the conversation' Ohanian said in an interview. 'So you can imagine it was a nice surprise to say, hey, look, we're doing a league now, and we'd love to have you involved and have a stake in it.' Athletes have increasingly taking stakes in the growing number of new startups outside of tradtional leagues and competitions. San Antonio Spurs point guard Chris Paul recently bought into Tiger Woods' Tomorrow's Golf League franchise Jupiter Links GC, joining sports stars including Mike Trout and Harry Kane as backers of the team. Footballers including Diogo Jota, Diogo Dalot, and Mason Mount invested in Baller League, a six-a-side football competition backed by a range of influencers and former footballers. This advertisement has not loaded yet, but your article continues below. Ohanian, who funded Athlos through his 776 venture capital firm, is looking to making track a lot more fun for fans and boosted viewership, thereby increasing pay for the athletes beyond the four-year Olympic cycle. A push has been made to capture the popularity of track and field outside of mainstream athletic events. Michael Johnson's Grand Slam Track launched in April with a $12.6 million prize pot, with $100,000 for the winner of each event. Next year will see the launch of the World Athletics Ultimate Championships, with a $10 million pot and $150,000 for first place. Sign up for Bloomberg's Business of Sports newsletter for the context you need on the collision of power, money and sports, from the latest deals to the newest stakeholders. Delivered weekly. Check out our sports section for the latest news and analysis. Toronto & GTA Columnists Toronto & GTA Ontario Sunshine Girls
