New home sales in the GTA hit a record low in July, with only 654 units sold—a 48% drop from last year and 70% below the 10-year average. The market's downturn is driven by rising inventory levels, now at 15 months, due to sluggish sales and a lack of new project launches. The ongoing high-interest rates have kept buyers on the sidelines, leading to stalled construction and a growing imbalance between...

Good Morning! Today, the Bank of Canada lowered its key rate to 4.5% from 4.75%, marking its second cut in a row. This move aims to ease inflation and address economic growth concerns by considering the broader economic picture, not just inflation. With global supply chains improving and economic growth slowing, high interest rates have kept consumer spending in check. The Bank of Canada is now taking...

The Bank of Canada cut its benchmark interest rate by 25 basis points on Wednesday, the first reduction in more than four years, bringing its policy rate to 4.75 per cent. The decision was widely expected by economists. The central bank cited progress on lowering inflation, weaker than expected economic growth in the first quarter, and employment growing at a slower pace than the working-age...

The Bank of Canada (BoC) has decided to hold its interest rate at 5% for the seventh consecutive time, as announced earlier today. This decision comes at a time when many Canadians are experiencing financial difficulties due to high mortgage payments and are hoping for some relief. However, the BoC has indicated that it might reduce the interest rate in the future, possibly as early as June, provided that...

March pdf home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s...