In a bold move aimed at supporting economic growth, the Bank of Canada (BoC) has cut its policy rate by 50 basis points, bringing it down to 3.75%. This is the largest rate cut since 2020 and signals a significant shift in the Bank’s approach as inflation returns closer to the target range. But what does this mean for homebuyers, sellers, and investors? Why the Rate Cut Matters For the first time in over two years, the BoC has taken substantial action to lower borrowing costs. This... [read more]

Despite gaining momentum in June, after the Bank of Canada’s rate cut that month, activity in Canada’s housing market paused in July. Last month, home sales dipped 0.7 per cent on a month-over-month basis, reversing a small portion of June’s post-first rate cut gains. There’s a likelihood of further rate cuts in the next interest rate decision (come September) with the pace of future policy likely easing. It’s clear that we may take a while to return to the... [read more]

Since 2016, the number of Canadians living alone has surpassed all other household sizes, accounting for 28% of the population at the time. Today, this number continues to grow as the average size of a Canadian household shrinks. For the first time, there are more one-person households than four-person households and thus, more single homebuyers than before. As the face of Canada changes, so does the face of the average homebuyer. Although singles make up the more significant percentage of... [read more]