Bank of Canada holds the line at 2.25%
The Bank of Canada left its policy rate unchanged again, even as the 10-year bond yield keeps climbing, a split that matters for anyone quoting a client a mortgage this week. Toronto's market is showing a rare bright spot as listings thin out, while FINTRAC's fine list keeps growing and a Compass-CRMLS fight in the U.S. is worth watching for what it means for listing cooperation here. Quebec's election has turned housing into a wedge issue, and private lenders are telling brokers to look past the headline rate.
The Numbers
2.25% (1 minute read)
The Bank of Canada held its overnight rate steady, keeping policy unchanged from the prior setting. For agents, that means the lending backdrop hasn't shifted since last month, even as bond yields move on their own track.
Rates & Money
Bond yield climbs again, pulling fixed rates with it (1 minute read)
The 10-year Government of Canada benchmark yield rose to 3.96%, up from 3.94% a few days earlier. Fixed mortgage pricing tracks this number more closely than the overnight rate, so a client comparing quotes this week may already see it reflected.
Private lenders tell brokers to read past the rate (5 minute read)
Private mortgage lenders are warning that fees and auto-renewal clauses can do more damage to a borrower's total cost than the headline rate suggests. They're also flagging that longer qualifying timelines with traditional lenders make exit planning something to discuss up front, not after the fact.
The Market
Toronto sellers finally catch a break (5 minute read)
Active listings in Toronto shrank year over year in August, giving sellers more leverage than they've had in a while. It's a modest shift, but after a stretch of buyer's-market conditions, thinner supply changes how an agent should price a new listing.
Home prices rose, but inflation ate the gain (3 minute read)
Bank for International Settlements data shows Canadian home prices climbed for the first time in over a year. Adjusted for inflation, though, real prices kept falling, landing near their lowest point in close to a decade, a reminder that a nominal gain doesn't always translate to affordability easing.
Housing becomes a wedge issue in Quebec's election
A large share of younger Quebec voters say the province's housing supply and affordability crisis will shape how they vote this election, according to a new poll. For agents in the province, party positions on housing policy are suddenly campaign material clients will ask about.
Industry
RECO's interim CEO pushes brokerages on trust-money duty (4 minute read)
With brokerages facing an annual deadline to file financial statements with RECO, interim CEO Jean Lépine is arguing that protecting client trust money can't rest on the regulator alone. He's calling on boards and associations to take a more active role, which puts pressure on brokerage owners to get their books in order now rather than later.
The High End
Toronto condo seller waits out the right buyer (2 minute read)
A three-bedroom Toronto condo with both north and south views sold well above its original asking price after the seller held out. It's a reminder that patience can still pay in a segment where buyers are scarcer but still willing to compete for the right unit.
Design & Living
A Montreal renovation treats old and new as equals (3 minute read)
Architecture firm MRDK's update to a historic Montreal home layers contemporary, object-like additions alongside original character rather than erasing it. It's a useful reference for clients debating whether a heritage property can take a modern addition without losing what made it worth buying.