The Bank of Canada raised its key interest rate this morning by a quarter point, to 2.5%. It's the Bank's first increase since July 2023 and its first rate change of any kind in a year, after holding at 2.25% since last October. The reason is energy: higher oil prices tied to the war in the Middle East have kept headline inflation around 3% since April, and the Bank expects it to reach about 3.5% by year end. Core inflation is still close to the Bank's 2% target, but the Bank wants... [read more]

The GTA market tightened up heading into the fall. Here's what buyers and sellers in our core areas should know this week: Across the GTA: Average selling price came in at $1,003,956 in July, with sales down slightly (-0.9% year-over-year) but new listings down much more sharply (-17.8%). That gap matters — with fewer new listings coming to market, buyers may find less room to negotiate in the months ahead. Markham: TRREB's official Market Watch puts the average price at... [read more]

Bank of Canada: Held its key rate at 2.25% this morning (Sept 2) — the third straight hold — after weighing inflation stuck near 3% (driven by gasoline and Middle East-linked energy prices, though core inflation is closer to 2%) against slowing momentum from new U.S. tariffs. The Bank said it's "prepared to adjust monetary policy as needed," with its next announcement set for October 28 — worth knowing if you've been waiting for a clearer signal before... [read more]