{"id":96061,"date":"2026-06-19T22:06:30","date_gmt":"2026-06-19T22:06:30","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/96061\/"},"modified":"2026-06-19T22:06:30","modified_gmt":"2026-06-19T22:06:30","slug":"news-of-the-day-torontos-condopocalypse-canadian-dollar-selloff-fired-financial-advisers-variable-over-fixed-rates-bank-regulations-and-more","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/96061\/","title":{"rendered":"News of the day: Toronto&#8217;s condopocalypse, Canadian dollar selloff, fired financial advisers, variable over fixed rates, bank regulations and more"},"content":{"rendered":"\n<p class=\"yf-1fy9kyt\">It\u2019s Friday, June 19. Here are the top stories we\u2019re following today.<\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/feature\/toronto-condo-correction-fortunes-lost\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:\u2018Bloodbath for sellers\u2019: Tales from the frontlines of Toronto\u2019s condopocalypse;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;\u2018Bloodbath for sellers\u2019&quot;}\" class=\"link \">\u2018Bloodbath for sellers\u2019: Tales from the frontlines of Toronto\u2019s condopocalypse<\/a><\/p>\n<p class=\"yf-1fy9kyt\">Four years in, owners, investors and developers have lost fortunes in what may be one of the longest condo corrections on record \u2014 and market bottom is still nowhere in sight. Here are some of their stories.<\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/feature\/toronto-condo-correction-fortunes-lost\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Read the story;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Read the story&quot;}\" class=\"link \">Read the story<\/a><\/p>\n<p>       <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/06\/617c6876c549744fb8c76c947a502190.jpeg\" alt=\" The Canadian dollar is at risk of dropping below 70 cents U.S.\" loading=\"eager\" height=\"720\" width=\"960\" class=\"yf-lglytj  loaded\"\/>  The Canadian dollar is at risk of dropping below 70 cents U.S.      <\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/news\/economy\/canadian-dollar-closing-in-70-cents-us\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Canadian dollar closing in on 70 cents U.S. on \u2018brutal\u2019 selloff \u2014 and it might not stop there;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Canadian dollar closing in on 70 cents U.S. on \u2018brutal\u2019 selloff \u2014 and it might not stop there&quot;}\" class=\"link \">Canadian dollar closing in on 70 cents U.S. on \u2018brutal\u2019 selloff \u2014 and it might not stop there<\/a><\/p>\n<p class=\"yf-1fy9kyt\">The Canadian dollar is at risk of dropping below 70 cents U.S. amid surging demand for the greenback as markets reprice the expectation that the United States Federal Reserve will hike rates instead of cutting them.<\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/news\/economy\/canadian-dollar-closing-in-70-cents-us\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Read the story;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Read the story&quot;}\" class=\"link \">Read the story<\/a><\/p>\n<p>       <img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" alt=\" The advisers come from different banks. The circumstances differ. Yet the process looks remarkably similar.\" loading=\"lazy\" height=\"720\" width=\"960\" class=\"yf-lglytj loader\"\/>  The advisers come from different banks. The circumstances differ. Yet the process looks remarkably similar.      <\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/fp-work\/many-top-financial-advisers-fired-for-cause\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Why are so many top financial advisers suddenly being fired for cause?\u00a0;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Why are so many top financial advisers suddenly being fired for cause?&amp;nbsp&quot;}\" class=\"link \">Why are so many top financial advisers suddenly being fired for cause?\u00a0<\/a><\/p>\n<p class=\"yf-1fy9kyt\">Given the hundreds (or thousands) of potential infractions of most banks\u2019 codes of conduct, if a financial adviser is targeted, a bank can easily come up with some minor violation to accuse them of, if it is so inclined, writes Howard Levitt.<\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/fp-work\/many-top-financial-advisers-fired-for-cause\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Read the story;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Read the story&quot;}\" class=\"link \">Read the story<\/a><\/p>\n<p>       <img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" alt=\" Houses that have recently been sold in Whitby, Ont.\" loading=\"lazy\" height=\"720\" width=\"960\" class=\"yf-lglytj loader\"\/>  Houses that have recently been sold in Whitby, Ont.      <\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/real-estate\/mortgages\/mortgage-brokers-favour-variable-rates-over-fixed\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Why mortgage brokers tend to favour variable rates over fixed;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Why mortgage brokers tend to favour variable rates over fixed&quot;}\" class=\"link \">Why mortgage brokers tend to favour variable rates over fixed<\/a><\/p>\n<p class=\"yf-1fy9kyt\">Banks have a reputation for not selling variable-rate mortgages as frequently as brokers. Here\u2019s why brokers favour them over fixed rates.<\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/real-estate\/mortgages\/mortgage-brokers-favour-variable-rates-over-fixed\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Read the story;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Read the story&quot;}\" class=\"link \">Read the story<\/a><\/p>\n<p>       <img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" alt=\" Canada\u2019s banking watchdog is lowering the capital buffer to encourage lending.\" loading=\"lazy\" height=\"720\" width=\"960\" class=\"yf-lglytj loader\"\/>  Canada\u2019s banking watchdog is lowering the capital buffer to encourage lending.      <\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/fp-finance\/banking\/osfi-cuts-bank-domestic-stability-buffer\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Regulator cuts big banks\u2019 capital buffer for the first time in three years;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Regulator cuts big banks\u2019 capital buffer for the first time in three years&quot;}\" class=\"link \">Regulator cuts big banks\u2019 capital buffer for the first time in three years<\/a><\/p>\n<p class=\"yf-1fy9kyt\">Canada\u2019s top banking regulator on Friday reduced the amount of money the big banks must keep aside to absorb unexpected financial shocks for the first time in three years.<\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/fp-finance\/banking\/osfi-cuts-bank-domestic-stability-buffer\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Read the story;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Read the story&quot;}\" class=\"link \">Read the story<\/a><\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/opinion\/opinion-canadas-debt-crisis-will-come-from-washington\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Opinion: Canada\u2019s debt crisis will come from Washington;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Opinion&quot;}\" class=\"link \">Opinion: Canada\u2019s debt crisis will come from Washington<\/a><\/p>\n<p class=\"yf-1fy9kyt\"><a href=\"https:\/\/financialpost.com\/opinion\/jack-mintz-americas-g7-partners-need-to-pick-up-their-game\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Jack Mintz: America&#039;s G7 partners need to up their game;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Jack Mintz&quot;}\" class=\"link \">Jack Mintz: America&#8217;s G7 partners need to up their game<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"It\u2019s Friday, June 19. Here are the top stories we\u2019re following today. \u2018Bloodbath for sellers\u2019: Tales from the&hellip;\n","protected":false},"author":2,"featured_media":96062,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[1635,35608,35609,48,35607],"class_list":["post-96061","post","type-post","status-publish","format-standard","has-post-thumbnail","category-toronto","tag-canadian-dollar","tag-condo-buildings","tag-market-bottom","tag-toronto","tag-united-states-federal-reserve"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/96061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=96061"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/96061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/96062"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=96061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=96061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=96061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}