MLN NewsStream

Over the last seven days, we haven't heard a peep from the national frontrunners—rate stability is having a moment.

The government's proposal to scrap the 5% GST ($50K) on a $1 million home "could translate to mortgage savings of about $240 per month and a slightly smaller minimum down payment for homebuyers," reported Desjardins Economics on Monday.

But the headline savings are only half the story. Here's what else people should know about this change:

Servus Credit Union is rolling out its Halal Mortgage this fall through a new wholly owned subsidiary, Servus Halal. The product is a clever workaround to paying interest, which is banned by Sharia law.

The structure caps loan-to-value at 80% with fixed monthly payments stretched over 25 years (because even divine finance appreciates predictable cash flows).

Servus's new offering is what Islamic finance calls a "Murabaha agreement," which means:

North America's labour market took a tariff punch to the gut, but it's fighting its way out of the corner. Overall, May employment was a small upward surprise, north and south of the 49th. Yields are rallying as a result.

Here are the numbers that made economists’ hearts flutter: