Tag: mortgage rates Canada
-
Ontario Lost 18,000 Jobs In August – Here’s What It Could Mean For The Housing Market
Ontario’s job market took a step backward in August, adding another layer of uncertainty for home buyers, mortgage holders and the province’s housing market. Ontario lost approximately 18,000 jobs in August 2026, according to the latest Labour Force Survey from Statistics Canada. Across the country, employment fell by 42,000 jobs, significantly weaker than economists had…
-
The Bank Of Canada Just Warned Interest Rates Could Go Up More Than Once
Canadians who have been waiting for interest rates to fall could be in for a surprise, because the Bank of Canada is now warning that rates may need to go up again. The Bank of Canada held its policy interest rate at 2.25% on September 2, keeping it unchanged for another meeting. But what Governor…
-
Canada’s Housing Market Outlook Just Changed. Here’s What Buyers Need To Know
Canada’s housing market outlook has shifted again. The Canadian Real Estate Association (CREA) has released its latest forecast for 2026 and 2027, painting a more cautious picture for home sales and price growth than it did just a few months ago. While affordability has improved in many parts of the country, economic uncertainty, slower population…
-
Here’s How Much Your Monthly Mortgage Payment Has Changed Since Interest Rates Peaked
Mortgage rates may still feel high compared to the ultra-low rates of 2021, but borrowing costs have improved significantly from their recent peak. After the Bank of Canada aggressively raised interest rates to fight inflation, many Ontario buyers hit pause on their home search. Today, with the Bank of Canada’s policy rate sitting at 2.25%,…
-
Canada’s Housing Market Has Now Seen Its Largest Price Correction In History
Canada’s housing market has experienced one of the most dramatic booms in history, and according to new data, it’s now experiencing its largest correction on record. New figures from the Bank for International Settlements (BIS) show national home prices have fallen significantly since peaking in early 2022. Once inflation is factored in, prices have dropped…
-
Bank of Canada Expected To Hold Rates This Week. Here’s What It Means For Ontario Homebuyers
All eyes will be on the Bank of Canada this Wednesday as policymakers announce their latest interest rate decision, a move that could influence mortgage rates, homebuyer confidence, and the direction of Ontario’s housing market. While many prospective buyers have been hoping for another rate cut, economists overwhelmingly expect the central bank to leave its…
-
Is Now Finally a Good Time to Buy a House in Ontario?
Ontario’s housing market has looked very different in 2026 than it did just a few years ago. After years of soaring prices, intense bidding wars, and record-low inventory, buyers are finally finding themselves in a stronger position. Home prices have softened in many markets, inventory has climbed, and sellers are becoming more willing to negotiate.…
-
Canadian Housing Starts Fell 6% in May as Supply Concerns Continue
Canada’s housing construction pulled back in May, raising fresh questions about whether the country is building enough homes to improve affordability. According to Reuters, citing new data from Canada Mortgage and Housing Corporation, Canadian housing starts fell 6% in May from the previous month. The seasonally adjusted annualized rate dropped to 261,377 units, down from…
-
What the Bank of Canada’s Latest Rate Hold Means for Housing
The Bank of Canada has held interest rates steady again, leaving many Canadian homebuyers wondering whether mortgage relief is actually coming this year. On June 10, 2026, the Bank of Canada held its target for the overnight rate at 2.25% for the fifth consecutive meeting. The Bank Rate remains at 2.5%, while the deposit rate…
-
Canadian Household Debt Is Becoming Even More Concentrated in Mortgages
Canadian household debt continues to climb, but new data suggests the bigger issue may be where that debt is concentrated. According to Statistics Canada data highlighted by Better Dwelling, Canadian household debt reached $3.24 trillion in March 2026, with mortgage debt making up nearly three-quarters of the total. Household Debt Hit $3.24 Trillion Canadian households…
