Direct Loan Canada Blog

Canada’s main stock index edged lower in late-morning trading as gains in the energy sector were offset by losses in technology and base metals.
Source: ctv business
S&P/TSX composite edges lower in late-morning trading, U.S. stock markets mixed

Canadians with variable-rate fixed-payment mortgages are seeing their amortization periods stretch to infinity amid high interest rates. Experts explain what’s causing this and what the downstream effects could be for borrowers, default rates and the economy.
Source: ctv business
Is an ‘infinity mortgage’ really infinite? Experts say probably not, but it’s not good

Embattled developer China Evergrande Group has filed for U.S. bankruptcy protection as part of one of the world’s biggest debt restructurings, as anxiety grows over China’s worsening property crisis and its impact on the weakening economy.
Source: ctv business
Evergrande seeks U.S. court nod for USB debt overhaul as China economic fears mount

Chinese leader Xi Jinping has called for measures to mitigate the effects of this year’s disastrous flooding which has left scores dead and inflicted massive damage on crops, homes and infrastructure, including in and around Beijing.
Source: ctv business
China’s Xi calls for measures to mitigate disastrous flooding amid economic slowdown

WestJet says it’s adjusting prices and adding capacity to help with evacuation efforts in Yellowknife.
Source: ctv business
WestJet adjusts prices, flight schedule amid Yellowknife evacuation efforts

The U.S. Commerce Department on Thursday said it will impose preliminary anti-dumping duties on tin-plated steel imports from Canada, Germany and China, sparing five other countries in a decision that drew some relief from food can manufacturers that had feared higher tariffs.
Source: ctv business
U.S. to impose tariffs on tin mill steel from Canada, China, Germany

Canadian LinkedIn users wanting to ensure the public that they’re the real deal now have another method of verifying their online/digital identity: government identification.
Source: ctv business
LinkedIn launches government ID-based verification in Canada to build trust

The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, pushing up borrowing costs for homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.
Source: ctv business
Average long-term U.S. mortgage rate climbs to 7.09 per cent this week to highest level in more than 20 years

The Supreme Court of Canada agreed on Thursday to hear an appeal from a group of airlines looking to quash rules that boost compensation to passengers for delayed flights or damaged luggage.
Source: ctv business
Supreme Court to hear appeal from airlines on air passenger rights compensation

A new plant to produce battery materials for Ford’s electric vehicles will be established in Bécancour, Centre-du-Québec.
Source: ctv business
Ford announces .2-billion EV battery material manufacturing plant in Quebec