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Teranet-National Bank House Price Index rises sharply in July

Before seasonal adjustments, the Teranet-National Bank Composite House Price Index™, which covers the country’s eleven largest CMAs, rose by 1.8% from June to July, the fifth consecutive monthly increase. After adjusting for seasonal effects, the...

Canadian Home Sales Showing Signs of Stabilization in June

Home sales recorded over Canadian MLS® Systems posted a 1.5% increase between May and June 2023, a smaller increase than in April and May. Sales were up in June in a little over half of all local markets with gains in British Columbia and Alberta offsetting fewer...

Gap Between High and Low Income Households Widens

Recent increases in the cost of living and declining real estate values had unprecedented impacts on net saving and wealth for more financially vulnerable households in the first quarter, such as those with lower incomes, less wealth, and in younger age groups. Income...

Mortgage interest cost rises as homeowners’ replacement cost slows

Shelter costs rose 4.9% on a year-over-year basis in April, after a 5.4% increase in March. Canadians continued to pay more in mortgage interest cost in April (+28.5%) compared with April 2022, as more mortgages were initiated or renewed at higher interest rates. The...

CREA Updates Resale Housing Market Forecast

National home sales have remained little changed from month to month since the summer of 2022 and, in fact, posted modest back-to-back monthly gains in February and March 2023. With nearly a year without any large declines, the downward adjustment to sales activity...

Canada: The housing market has stabilized in October!

On a seasonally adjusted basis, home sales increased 1.3% from September to October, the first monthly gains in eight months. Despite this growth in sales, this should not be seen as the beginning of an upward trend but more like a stabilization of the market, with...

Policy interest rate hikes: how will they impact my finances?

The Bank of Canada has raised its policy interest. If you’re wondering why—and how the increase will affect your financial plans—read on for the answers. What is the policy interest rate? The policy interest rate is the fixed interest rate set by a financial...

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