AGP Executive Report
Last update: 11 hours agoMortgage Pressure: The Bank of Canada’s first rate hike in three years is already weighing on the GTA’s fragile housing recovery. Variable mortgage rates may climb faster than the central bank’s rate, while the Bank does not expect housing to pick up soon. Economic Headwinds: Canada’s GDP stalled in August, with September likely to show a decline, adding uncertainty for buyers, sellers and builders. Building More Homes: Rothesay is getting more than $28 million for water and wastewater upgrades that will support 89 affordable seniors’ homes. In Quebec, aging water infrastructure is holding back housing construction. Market Shifts: Purpose-built rental leasing remains healthy in Metro Vancouver even as condo sales stall, and Edenshaw has started a 30-storey rental tower in Mississauga’s Port Credit. A new study also finds Vancouver new-home prices exceed construction costs by more than four times, compared with nearly twice in Toronto, Calgary and Edmonton.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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