This Week’s Top Stories: Canadian Real Estate Demand Balance Hits 29 Year Low, Mortgages To Rise

Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Plan To Fix Housing? Just Change What Affordable Means Back in 2023, the CMHC said that building 3.5 million homes could restore 2004 levels of affordability by 2030. It reiterated the plan a year later, right before the country’s population growth plunged to nearly zero. Combined with the building boom, the bar should have been lower to achieve this goal by 2030. However, the agency’s latest report ignores its previous statement, moving the goalposts. The CMHC now expects affordability will be restored to 2019 levels if roughly 4.4 million homes are built by 2036. If you’re skeptical of the agency’s math, you should be. Here’s a brief overview of why. Continue Reading… Canadian Mortgage Rate Relief Done For This Stage of The Cycle: BMO One of Canada’s largest banks doesn’t see much relief when it comes to mortgages in the near future. BMO Capital Markets warned the market is now pricing in five rate hikes from the Bank of Canada by the end of 2027. While BMO thinks that may be excessive based on its current read, rate hikes are coming. Mortgages are at cycle low, with hikes expected to throttle hom...