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Is Now a Good Time to Rent vs. Buy in Canada?

After years of brutal rent hikes that left many Canadians feeling priced out of their own cities, something has quietly shifted: rents are finally falling. But does that mean you should lock in a lease and wait out the housing market — or is this actually the window you've been waiting for to buy? The answer, as always, depends on your city, your finances, and your plans. Here's a clear-eyed breakdown of where things stand in 2026. What's Happening With Rents Right Now The Canadian rental market has undergone a dramatic reversal. After vacancy rates hit record lows in 2023 and rents surged by as much as 8% nationally in a single year, the tide has turned. According to the Canada Mortgage and Housing Corporation (CMHC), the national vacancy rate for purpose-built rental apartments rose to 3.1% in October 2025 — up from 2.2% in 2024 and a record low of just 1.5% in 2023. That 3.1% figure now sits above the 10-year historical average , marking a meaningful shift in the bal...
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Bank of Canada Considered Waiting Until July to Cut Rates

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Bank of Canada officials recently discussed whether to delay interest rate cuts until July. Their primary concern was confirming that inflation remains on track to reach the central bank’s 2% target. Ultimately, the governing council decided to cut the policy rate to 4.75% at their June 5 meeting. This move followed four consecutive months of slowing underlying price pressures, which they deemed sufficient progress to warrant the rate reduction.

While policymakers acknowledged the possibility of further rate cuts if inflation continues to ease, they emphasized a gradual approach. The bank’s dependence on data was evident, as they considered waiting until July before making a decision. Additionally, they discussed the potential divergence of Canada’s interest rate path from that of the US, noting that expectations of different policy outlooks could impact the exchange rate.

In summary, the Bank of Canada’s decision reflects a delicate balance between economic indicators and the need for cautious monetary policy adjustments. As they continue to monitor inflation and economic growth, future rate cuts will depend on further disinflation momentum and evolving market conditions.

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