News of the day: Toronto’s condopocalypse, Canadian dollar selloff, fired financial advisers, variable over fixed rates, bank regulations and more

Toronto's condo market is experiencing a prolonged correction with significant losses for owners and developers, while the Canadian dollar faces a potential drop below 70 U.S. cents due to shifting U.S. Federal Reserve rate expectations. Canada's banking regulator has reduced the capital buffer for major banks for the first time in three years, aiming to encourage lending. Mortgage brokers generally favour variable-rate mortgages over fixed rates.

• •Toronto condo market in prolonged correction.
• •Canadian dollar nearing 70 U.S. cents.
• •Regulator lowers bank capital buffer.