BMO economist predicts homeowners can absorb higher mortgage rates

Conditions on the resale market tightened further in October, with a seller’s market that is synonymous with upward price support.

Canada’s rental market has hit a critical low in vacancy levels, but developers are struggling to keep pace with the growing demand for new housing.

Home sales activity recorded over Canadian MLS® Systems increased 7.7% on a month-over-month basis in October 2024, reaching its highest level since April 2022.

Canada's housing affordability cannot be resolved by changing the country's unique mortgage structure, the Bank of Canada's Senior Deputy Governor said on ... More

With the benchmark prices for a home in Toronto or Vancouver at over a million dollars, the prospect of saving enough for a down payment to enter the real estate market can be ... More

Greater Toronto Area (GTA) home sales increased strongly year-over-year in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was ... More

Conservative Leader Pierre Poilievre has written to the provinces’ premiers, asking them to eliminate their sales taxes on new homes that are under $1 million.

Canada's housing agency says risks remain in the mortgage market as over a million contracts are up for renewal next year while a growing share of new mortgages are being ... More

What does today’s 50 basis point interest rate cut mean for the Canadian commercial real estate market?

A new report says that while fewer young Canadians own a home compared with three years ago, a majority of millennials and Gen Z adults still plan to purchase one in the next ... More

New home sales in the Greater Toronto Area remained sluggish last month, but a new report suggests that the market is now primed for buyers following four consecutive interest ... More

The federal government allowed 30-year mortgage amortizations for first-time homebuyers purchasing new builds in August, and the new rules are set to expand in December to ... More

More Canadian homeowners are considering switching to variable rate from fixed rate mortgages after an unusually large interest rate cut by the central bank on Wednesday, ... More

The Bank of Canada on Wednesday reduced its key benchmark rate by 50 basis points to 3.75%, its first bigger-than-usual move in more than four years, and hailed signs the ... More

Landlords who plan to evict tenants to renovate their properties may soon be required to apply for a licence and provide additional financial compensation to the tenants they ... More

Five of Canada's biggest banks are now expecting a larger-than-usual interest rate cut from the Bank of Canada after inflation numbers came in lower than anticipated.

New condo sales in the Greater Toronto and Hamilton Area are continuing to drop off, falling 81 per cent in the third quarter of 2024 compared to the same period last year, ... More

Following the Bank of Canada's third interest rate cut of the year, national home sales increased slightly in September compared to August. This follows a similar pattern ... More

Strong employment results for September have tempered Bank of Canada rate cut expectations for later this month.

Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall ... More

The federal government is rolling out another set of mortgage changes aimed at addressing the housing shortage, this time focusing on supporting the construction of secondary ... More

Royal LePage’s latest housing market forecast predicts a real estate rebound that will see Canada’s “sluggish” markets in recovery mode by spring ... More

An ex-member of the Bank of Canada’s governing body said officials should cut borrowing costs by half a percentage point later this month.

Canada’s banking regulator recently relaxed its mortgage stress test rule partly due to concerns about how the public perceives the agency’s role, according to ... More

Markets are increasingly betting on the Bank of Canada delivering a 50-basis point rate cut during its October 23 policy decision, with the odds now sitting at around 53%

Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by ... More

Canada’s banking regulator is easing the burden on homeowners trying to switch their lender when renewing their mortgage by dropping the need to reapply the stress ... More

As a follow-up to last week’s announcement, the federal government has unveiled a more detailed framework for its updated mortgage rules, which are set to take effect on ... More

As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost?