Bank of Canada maintains policy rate, continues quantitative tightening FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario September 6, 2023 The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Inflation in advanced economies has continued to come down,...

TRREB Urges Governments to Accelerate Action on Housing Supply TORONTO, ONTARIO, July 6, 2023 – Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to...

The 27-year-old teacher has saved up a lot of money and wants to take the next step, but doesn’t know whether she should rent or buy property. “I want to move out ideally to my own purchased home or rent without a roommate,” Gabriela says. “But my goal is to purchase a home — or more likely a condo — in the next couple of years and I want to live in Parklawn/Mimico area. Somewhere near the...

The Greater Toronto Area (GTA) housing market continued to tighten in April 2023. On a year-over-year basis, sales edged lower compared to April 2022, but new listings were down by more than one-third. Fewer listings relative to sales meant there was more competition between buyers, supporting an improvement in selling prices since the beginning of this year. “In line with TRREB’s outlook and recent...

Lack of inventory is the main underlying storyline in the Greater Toronto Area (GTA) real estate market coming out of the winter months, and with an anticipated increase in demand, and competition among buyers, market watchers project renewed price growth. Part of the reason for growing demand, especially among first-time buyers, has been a red-hot rental market, as the average rents start to get closer...