Increasing Real Estate Mortgage Rates Pulling Greater Toronto Area Housing to a more Balanced Market   Greater Toronto Area (GTA) housing market conditions continued to evolve in response to higher borrowing costs. Similar to April results, May 2022 sales were down on a monthly and annual basis. Conversely, active listings at the end of May were up on a monthover-month and year-over-year basis. More balanced market conditions have provided buyers with more negotiating power. As a... [read more]

Higher Rates and Short Supply: The State of Real Estate in 2022 Canada's housing market hit a boiling point last year as homebuyers clambered for real estate in regions with significantly more demand than supply. But now that homeowners and buyers alike are feeling the pinch of rising interest rates and record inflation, the market appears to finally be simmering down. That, in turn, could create a welcome opening for shoppers to be more selective with their searches. However,... [read more]

Bank of Canada Increases the Overnight Lending Rate to 0.5% The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is continuing its reinvestment phase, keeping its overall holdings of Government of Canada bonds on its balance sheet roughly constant until such time as it becomes appropriate to allow the size of its balance sheet to decline. The unprovoked invasion... [read more]

  The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative easing (QE) program, with large-scale asset purchases of at least $5 billion per week of Government of Canada bonds. Both the global and Canadian economies are evolving broadly in line with the scenario in... [read more]

BANK OF CANADA HOLDS ITS TARGET OVERNIGHT RATE The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week. The global economy is recovering from the... [read more]