Do you have debt? Here is how the interest rate hike will affect you
Those with debts or mortgages will face a significant impact as a result of the interest rate hike in Canada, one expert says.
In the largest single interest rate in nearly 25 years, the Bank of Canada is raising the rate a full percentage point to 2.5 per cent.
"If you have debt, specifically variable interest rate loans here, this is going to be significant for you. Your payments will be going up quite significantly," Colin Sabourin, an investment advisor with Harbourfront Wealth Management, said in an interview with CTV's Maralee Caruso.
Watch the full interview with Colin to hear more how the interest rate will impact you, and when Canadians may see some relief.
CTVNews.ca Top Stories
Quebec nurse had to clean up after husband's death in Montreal hospital
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Cuban government apologizes to Montreal-area family after delivering wrong body
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What is changing about Canada's capital gains tax and how does it impact me?
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'Anything to win': Trudeau says as Poilievre defends meeting protesters
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Northern Ont. lawyer who abandoned clients in child protection cases disbarred
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
Boeing's financial woes continue, while families of crash victims urge U.S. to prosecute the company
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Bank of Canada officials split on when to start cutting interest rates
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Fair in Ontario, flurries in Labrador: Weather systems make for an erratic spring
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Police tangle with students in Texas and California as wave of campus protest against Gaza war grows
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Regina
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Revitalization of Regina's Dewdney Avenue to begin next week
Beginning April 29, Dewdney Avenue between Albert Street and Broad Street will see a number of construction sites.
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'Learn to walk again': Sask. doctor tells story of miracle recovery from deadly heart condition
It was a powerful morning at Regina's Conexus Arts Centre Wednesday, where the Lieutenant Governor hosted the annual Saskatchewan Prayer Breakfast and a provincial doctor told his story of survival from a deadly heart condition.
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Throwing star, crossbow found during Sask. RCMP searches at George Gordon FN, Punnichy
A throwing star and crossbow were among the seizures by police as part of a drug trafficking investigation on George Gordon First Nation and in Punnichy, Sask. last week.
Saskatoon
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Sask. woman helping fill bellies and hearts with free grocery store
Darlene Hartshorn is a mother and grandmother from Warman who is making a difference by helping those who need a hand up.
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Sask. woman fights to find out who had her apprehended for a psych. assessment
A Saskatchewan woman who was taken for an involuntary mental health assessment is entitled to find out who had her committed, a provincial court judge has ruled.
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Sask. college receives $17 million to expand aviation program
International aircraft giant Boeing has made a multi-million dollar commitment to the Saskatchewan Indian Institute of Technology (SIIT) to help address shortages in the aviation industry.
Edmonton
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Nurse practitioners to make 80% as much as family doctors for publicly-funded primary care
The Alberta government says it will pay nurse practitioners 80 per cent of what family doctors are paid – if they want to practice comprehensive primary care.
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Measles case in Edmonton prompts exposure warning
Alberta Health Services issued a measles alert in Edmonton Wednesday after confirming a case.
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7 surveillance videos linked to extortions of South Asian home builders in Edmonton released
The Edmonton Police Service has released a number of surveillance videos related to a series of extortion cases in the city now dubbed 'Project Gaslight.'
Calgary
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Auburn Bay community members rally around grieving widow, three young children
Residents of one southeast Calgary neighbourhood have raised thousands of dollars to support a family grieving the losses of a father and grandfather.
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'Disingenuous and misleading': Calgary mayor, province at odds over plan to lower utility bills
Calgary's mayor is sparring with the Government of Alberta over the rollout of new legislation meant to lower utility bills in Calgary.
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Nurse practitioners to make 80% as much as family doctors for publicly-funded primary care
The Alberta government says it will pay nurse practitioners 80 per cent of what family doctors are paid – if they want to practice comprehensive primary care.
Toronto
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Speed limits to increase on some sections of Ontario highways, province says
The Ontario government says it will be raising the speed limit along certain stretches of provincial highways soon, including Highway 401 and Highway 403.
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Driver dead after vehicle collides with parked trailer in Mississauga
A delivery truck driver is dead after a collision in an industrial complex in Mississauga Wednesday afternoon.
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Toronto police release videos of suspect who allegedly bumped into stranger, stabbed them
Toronto police have released videos of a suspect who allegedly stabbed a stranger he bumped into in the city’s Mount Dennis neighbourhood earlier this week.
Ottawa
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NCC buys golf course near Gatineau Park for $3.9 million
The National Capital Commission has purchased the old Dunnderosa Golf Course in Chelsea, Que., as part of its plan to acquire private properties in Gatineau Park.
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Can cars and bikes fit on the Queen Elizabeth Driveway and Colonel By Drive?
There are questions about how the National Capital Commission might fit bike lanes on the Queen Elizabeth Driveway and Colonel By Drive.
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Eastern Ont. knitters make 80 peacekeeper 'Izzy Dolls' for D-Day anniversary
Volunteers in Perth, Ont. have knit small peacekeeper "Izzy Dolls" that will be sent to France in commemoration of the 80th anniversary of D-Day and the Battle of Normandy.
Montreal
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Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
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REM delayed: Stations in West Island, North Shore now opening in 2025
Officials for Montreal's REM line confirmed that the lines to the West Island and the North Shore are being delayed and won't open until 2025.
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Cuban government apologizes to Montreal-area family after delivering wrong body
Cuba's foreign affairs minister has apologized to a Montreal-area family after they were sent the wrong body following the death of a loved one.
Atlantic
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A community in mourning: 16-year-old killed at Halifax parkade remembered
Community members gathered at a mosque for Ahmad Al Marrach — a 16-year-old murder victim — for his funeral on Wednesday.
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N.S. man wins $1.5M through Atlantic Lottery
A Cape Breton man won $1.5 million after buying $200-worth of Atlantic Lottery Scratch’N Win tickets.
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'Life was not fair to him': Daughter of N.B. man exonerated of murder remembers him as a kind soul
The daughter of a New Brunswick man recently exonerated from murder, is remembering her father as somebody who, despite a wrongful conviction, never became bitter or angry.
Vancouver
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'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
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RCMP officers 'refused' to provide evidence to Crown to assist drug, firearms prosecution: report
Crown counsel was unable to approve "significant" drug and weapons charges stemming from an arrest in Quesnel, B.C., last year because the officers involved "refused to provide any evidence," according to a report from the province’s police watchdog.
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No injuries after 'targeted shooting' at Abbotsford home, police say
Shots were fired into a basement suite in Abbotsford earlier this week, according to authorities.
Vancouver Island
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'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
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RCMP officers 'refused' to provide evidence to Crown to assist drug, firearms prosecution: report
Crown counsel was unable to approve "significant" drug and weapons charges stemming from an arrest in Quesnel, B.C., last year because the officers involved "refused to provide any evidence," according to a report from the province’s police watchdog.
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B.C. man rescues starving dachshund trapped in carrier: BC SPCA
An emaciated dachshund is now recovering thanks to a Good Samaritan who found the pup near a biking trail in Kelowna, according to the BC SPCA.
Kelowna
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B.C. man rescues starving dachshund trapped in carrier: BC SPCA
An emaciated dachshund is now recovering thanks to a Good Samaritan who found the pup near a biking trail in Kelowna, according to the BC SPCA.
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Search crews called in after missing Kelowna senior's truck found
Search and rescue crews have been called in after a vehicle belonging to a missing senior was located near a rural intersection outside of Kelowna Tuesday.
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Homicide investigation underway after body found near Kelowna, B.C.
Major crime detectives in British Columbia are investigating a suspected homicide after a body was found in a remote area southeast Kelowna over the weekend.
N.L.
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Rideshare platform Uber expands to Newfoundland and Labrador
Uber Technologies Inc. says it has brought its ridesharing platform to Newfoundland and Labrador.
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Newfoundland director found creeping terror of 'The King Tide' in a tiny coastal town
Newfoundlander Christian Sparkes has shot several films around his home province, but with his new psychological thriller 'The King Tide' he saw an opportunity to wander into one unique town that had eluded him over the years.
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2 people dead, 4 others make it to shore after vessel capsizes in Newfoundland
The Department of Fisheries and Oceans says two people were found dead and four others survived after a boat capsized off the west coast of Newfoundland.
Northern Ontario
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Northern Ont. lawyer who abandoned clients in child protection cases disbarred
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
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Garden River chief meets with disgruntled band members over payout concerns
Some members of the Garden River First Nation are demanding answers regarding the disbursement of the Robinson-Huron Treaty settlement funds.
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'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Barrie
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Suspected remains of missing Thornbury man found six years after disappearance
It was mid-October 2018 when Eric Spencer was last seen in Honey Harbour, a full-scale search by the OPP for the then 60-year-old from Thornbury scaled back when the search came up empty.
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U.S. Marshals join search for Wasaga Beach kidnapping suspect
U.S. Marshals joins search for Deshawn Davis, one of Canada’s most wanted, accused of the kidnapping of Elnaz Hajtamiri in Wasaga Beach January 2022 and the suspect in a nightclub shooting that took place in May of last year.
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Failure to remain at a collision leads to stolen property charges: OPP
Failing to remain at a collision resulted in stolen property and impaired driving charges for one Innisfil resident.
Kitchener
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Ont. teacher says she's being forced to switch pharmacies to maintain medication coverage
A Waterloo, Ont. teacher says she’s frustrated after learning the arthritis medication she depends on is no longer covered under her benefits plan and she'll have to switch pharmacies to avoid paying out of pocket.
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Film crew transforms Cambridge pizza shop
A Cambridge pizza restaurant got a temporary makeover this week, turning into a fictitious donut shop as part of a film production.
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Pedestrian seriously hurt after crash in Kitchener
A pedestrian had to be taken to an out-of-region hospital following a crash in Kitchener.
London
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'You made me look for money while he bled on the floor': Man sentenced in manslaughter case nearly a decade after botched robbery
Nine years after a London, Ont. man was shot to death in a botched robbery at his home, the man responsible for the shooting was given a prison sentence on Wednesday.
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'I think 110 is fast enough': Speed limit to increase on some sections of 400 series highways
The speed you travel on sections of 400 series highways in our region is increasing. The province says it will raise the speed limit to 110 km/h on multiple sections, including some in the London region.
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Nuclear waste referendum date set for October
Residents in the Municipality of South Bruce will decide whether they want to host Canada’s first permanent nuclear waste storage facility this October.
