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CMHC Just Cut Its Housing Forecast — What It Means If You're Buying, Selling, or Renewing

  Published July 28, 2026 Canada Mortgage and Housing Corporation quietly downgraded its outlook for the rest of 2026 last week, and the new numbers are worth a look no matter which side of the housing market you're standing on. The federal housing agency's Summer 2026 update now calls for slower growth, softer home prices, fewer new builds and continued easing in rental markets right through the end of the year — with a split that leaves Ontario and B.C. looking a lot different from the Prairies and Quebec. Here's what's actually in the update, and what it means for your specific situation. What CMHC changed The agency's baseline call for 2026 is a Canadian economy growing at just 0.7%, with high borrowing costs, weak population growth and cautious buyers keeping a lid on demand even as affordability has technically improved. The practical result, nationally: Housing starts are expected to fall to about 241,400 units this year, down from 259,028 in 2025 Resale acti...
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Wall Street Rallies Despite Fed's Tapering Plans

 


Stocks rose on Friday, extending their gains for the week, as investors shrugged off the hawkish tone of Federal Reserve Chair Jerome Powell's testimony to Congress. Powell signaled that the Fed is ready to start tapering its bond purchases as soon as November, and that interest rate hikes could follow sooner than expected. However, he also acknowledged that the economic recovery is still facing headwinds from the delta variant of the coronavirus and supply chain disruptions.

The Dow Jones Industrial Average climbed 0.7%, or 238 points, to close at 35,677. The S&P 500 gained 0.8%, or 34 points, to end at 4,544. The Nasdaq Composite advanced 0.9%, or 139 points, to finish at 15,212. All three major indexes posted weekly gains of more than 1%.

The dollar weakened against a basket of major currencies, as traders reduced their bets on a faster pace of monetary tightening. The dollar index fell 0.3% to 93.38. The yield on the 10-year Treasury note edged lower to 1.45%, after hitting a three-month high of 1.54% on Thursday.

Wall Street analysts said that Powell's comments were largely priced in by the market, and that investors are focusing on the strong earnings outlook and the prospects of more fiscal stimulus from Washington. They also noted that the Fed's tapering plans are contingent on the economic data, which could change depending on the evolution of the pandemic and inflation.

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