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Mortgage, Real Estate & Economic Updates
GTA Housing Market Tightens: June Sales Up 9.4%
With average prices settling at $1,058,658 and dropping inventory, stabilizing benchmark trends and steady buyer demand indicate that the GTA housing market is finding a floor for the second half of the year.
Bank of Canada Divided on Rate and Economic Outlook
Bank of Canada holds its policy rate at 2.25%, while Governing Council members differ on the economic recovery, inflation risks and what may come next for mortgage borrowers in Canada.
CMHC expects Ontario’s housing market to remain weak through 2026, with fewer sales, lower prices and reduced housing starts. A gradual recovery could begin in 2027, creating better opportunities for GTA buyers.
Mortgage broker use reached a five-year high in 2025. The survey found that 38% of recent Canadian homebuyers used a broker, rising to 48% among first-time buyers. Competitive rates, multiple quotes and professional guidance were the leading reasons.
CHIP Reverse Mortgage: Enjoy More Financial Freedom in Retirement
Watch this short HomeEquity Bank video about how a CHIP Reverse Mortgage may help Canadian homeowners aged 55+ access home equity. Call Maurice to discuss whether it may suit your retirement plans.