Markets appeared largely unfazed by Trump’s latest outburst targeting Canada, despite his new 10 per cent tariff hike. Perhaps it’s because most of the damage is already done. 

In an era where algorithms are gunning for back-office jobs, CMLS Financial’s Andrew Gilmour is strapping underwriters into "Iron Man suits" instead of replacing them.

In this 9-minute chat, the CMLS SVP breaks down how the lender’s AI engine, AMI, is changing the mortgage approval game — not by cutting people out, but by supercharging them.

But efficient lending isn't all circuits and silicon — it’s also about broker loyalty. Gilmour shares how CMLS’s new VIP program keeps brokers earning more long after the initial deal closes, how the marriage with Nesto is impacting the lender, and why he’s betting that brokers will still be a healthy slice of the mortgage pie for years to come.

Well that went sideways pretty quickly.

A few weeks ago, PM Carney was happily suggesting we'd see an interim trade deal with the Americans in a matter of “weeks.”

All of a sudden, Trump has scrapped the talks entirely, plus slapped another 10% tariff on Canadian imports for good measure.

Eager to try out CRA’s long-promised income verification tool for mortgage applications?

Well, you can stop refreshing your browser on CRA’s website. Not even the blueprint for this mythical system yet exists — and at this point, some in the industry suspect it’s been permanently parked in “let's do more studies” mode, right beside perennially detoured projects like high-speed rail and pipelines.

We asked the Finance Department and CRA whether they still plan to deliver this fraud-fighting, lender-efficiency miracle. Here’s what they came back with...minus the miracle.

American inflation came in a touch lower than markets expected, partly because shelter costs took a breather. That gives the Federal Reserve a clear runway for at least one, maybe two, rate cuts this year—before someone reminds them that inflation is supposed to have a 2-handle.

Here's the CPI scoreboard for September:

• Headline (y/y): 3.0% (est. 3.1% | prior 2.9%)
• Headline (m/m): 0.3% (est. 0.4% | prior 0.4%)
• Core (y/y): 3.0% (est. 3.1% | prior 3.1%)
• Core (m/m): 0.2% (est. 0.3% | prior 0.3%)

While investors braced in suspense for Friday’s U.S. inflation numbers, Trump was busy lighting up the headlines on Thursday. Not only did he impose sanctions on Russia and finally set a meeting with China's Xi, but he also cut off all trade negotiations with Canada.

That's right. Apparently, Trump didn't like a trade ad that Ontario was running in the U.S. (full story). Hopefully, Carney can blame the idea on a marketing intern or something.

It's the second time since June that Trump has called off trade talks with Canada over social media. Yields fell modestly in after-hours trading, given this new threat to Canadian growth.

Canadian yields barely budged yesterday, despite Tuesday's too-hot-to-trot inflation surprise. The more interesting tale is what we heard after the bell from Mark Carney.

Canadian inflation popped its head above 2% for the first time in half a year—2.4%, to be precise. But that wasn't the number that mattered. It was the annualized average core reading that weighed on the market’s rate-cut enthusiasm.