Columns and News Explained
In-depth columns on pre-construction projects, and real estate and economy news explained in plain words.
News explainedCanada’s unemployment rate rose to 6.7% in October — Ontario 7.3%, Toronto area 7.4%
Statistics Canada’s Labour Force Survey for October, released November 6. Jobs barely changed (−4,700), but more people looked for work, so the unemployment rate rose 0.2 points to 6.7%. Ontario was at 7.3% and the Toronto area at 7.4%. Average hourly wages were $37.89, up 2.2% from a year earlier. What it means if you buy, sell or rent in the GTA.
News explainedBudget 2026: a $1.5M limit for optional mortgage insurance and a foreign buyer ban to 2029 are proposed; missing-middle insurance changes start February 1, 2027
Ottawa tabled Budget 2026 on November 5. Raising the price limit for optional mortgage insurance from $1,000,000 to $1,500,000 and extending the foreign buyer ban on existing homes to January 1, 2029 are still proposals. Mortgage insurance changes for three- and four-unit “missing middle” homes were announced to start February 1, 2027. Here is what is law and what is not.
News explainedOntario’s economy grew 1.8% in 2025; its household interest burden, 10.4%, was the highest in Canada
Statistics Canada’s provincial economic accounts for 2025, released November 5. Real GDP grew 1.9% in Canada and 1.8% in Ontario. Ontario households paid 10.4% of their disposable income in interest, the highest in Canada, and saved 3.4%, below the Canadian 4.4%. What it means if you plan to buy.
News explainedGTA home sales in October: 5,603, down 7.9% — the TRREB release in plain words
The Toronto Regional Real Estate Board (TRREB) released the October 2026 numbers for the GTA. Sales were 5,603, down 7.9% from last October, and new listings fell 11.9%. The average price was $1,024,108, down 2.7%, but seasonally adjusted sales rose from September.
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Canada’s goods trade surplus grows to $5.4B in September, from $5.0B in August
Statistics Canada’s September merchandise trade, released November 4. Exports rose 0.2% to $78.6B and imports fell 0.3% to $73.2B, so the trade surplus grew from $5.0B in August to $5.4B. Crude oil and gold exports rose and car imports fell. What it does, and does not, mean for rates and mortgages.
News explainedBank of Canada Governor tells MPs why the rate went up to 2.5% — inflation expected to reach about 3.5% by year-end
On November 3, 2026, Bank of Canada Governor Tiff Macklem told a House of Commons committee why the Bank raised its policy rate to 2.5% on October 28. The Bank expects inflation to rise to about 3.5% by year-end and to get back close to 2% only by the middle of 2028. He repeated that the rate may need to go up further, but the Bank will move carefully.
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New condo price index, third quarter 2026: Toronto down 0.8%, Vancouver down 1.0%
Statistics Canada’s New Condominium Apartment Price Index for the third quarter of 2026, released November 3. Toronto fell 0.8% from the second quarter to 127.6, the nine-city composite fell 0.6% and Vancouver fell 1.0%. Using the data table, Toronto is 2.7% lower than a year ago. What the index measures and what it means for pre-construction buyers.
ColumnPlaza on Yonge: a new Yonge Street condo you can move into now — who is it for?
Plaza on Yonge at 5858 Yonge, North York: move-in ready, 5% deposit, from a $399,000 studio to a $1,210,000 town. A walk to Finch station, H Mart across the street. Why it is among the lowest prices on the market, the honest answer to “so what’s the catch?”, who each type suits, and what to check before you sign.
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Canada’s economy flat in August for a second month; September early estimate down 0.1%
Statistics Canada’s August gross domestic product (GDP), released October 30. Real GDP was essentially unchanged in August, as in July, with 9 of 20 sectors growing. Retail trade rose 1.2% and wholesale trade fell 1.4%. The advance estimate for September is a 0.1% decline, and the third quarter is estimated to have grown 0.3%. What it means for rates and mortgages.
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Bank of Canada raises its key rate to 2.5% — the first increase since July 2023, and what it means for mortgages
On October 28, 2026 the Bank of Canada raised its policy rate by 0.25 percentage points to 2.5%, the first increase since July 2023. With inflation at 3.1%, the Bank said it wants to stop high fuel prices from spreading into other prices. This matters most to people with variable-rate mortgages.
News explainedCanada’s inflation rate was 3.1% in September; Ontario 2.5% — the numbers by province and what they mean
A Canadian Press report on the Statistics Canada release says Canada’s inflation rate was 3.1% in September 2026, and Ontario’s was 2.5% (2.4% in August). Here is what inflation means and how it connects to interest rates and housing.
News explainedCanada’s September housing starts down 11% from last year; Toronto flat
CMHC’s September housing starts, released October 16. Actual starts in centres of 10,000 or more were 19,984 units, down 11% from September last year, and the January-to-September total was down 4%. The seasonally adjusted annual rate rose 3% from August, and Toronto’s six-month trend was flat. What less new supply means for prices a few years out.
News explainedGTA condo apartment average price in September: $605,257, down 7.7% — the numbers by home type
TRREB’s September 2026 Market Watch report breaks down sales and average prices by home type. Condo apartments averaged $605,257, down 7.7% from last September, and condo sales fell 7.8%. Here are the numbers, with detached, semi and townhouse figures too.
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Rising mortgage rates and tariff worries weighed on GTA sales in September — the Canadian Press report in plain words
The Canadian Press (CP) combined the TRREB release with comments from agents to explain September’s GTA sales of 5,040 (down 9% from last year) and the $1,006,409 average price (from $1,060,036). It also gives details such as 1,937 sales in the City of Toronto and a 12.8% drop in townhouse sales.
News explainedGTA home sales in September: 5,040, down 9.0% — the TRREB release in plain words
The Toronto Regional Real Estate Board (TRREB) released the September 2026 numbers for the GTA. Sales were 5,040, down 9.0% from last September, and new listings fell 14.4%. The average price was $1,006,409, down 5.1%. Here is what it means.
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Bank of Canada holds its key rate at 2.25% — the seventh hold in a row, and what it was watching
On September 2, 2026 the Bank of Canada left its policy rate at 2.25%, the seventh hold in a row. It said it was weighing several risks at once: U.S. tariffs, oil prices from the war in the Middle East, and July inflation of 3% against a 2% target. On October 28 it then raised the rate to 2.5%.