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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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Chrystia Freeland Steps Down as Finance Minister, Exits Trudeau's Cabinet

 

In a surprising turn of events, Chrystia Freeland has resigned from her position as Canada's Finance Minister and will be leaving Prime Minister Justin Trudeau's cabinet. The announcement came just hours before she was scheduled to present the fall economic statement.

Freeland, who has been a key figure in Trudeau's government, cited differences with the Prime Minister over the best path forward for Canada as the primary reason for her resignation. In her resignation letter, she expressed her belief that to be effective, a minister must have the full confidence of the Prime Minister, which she felt she no longer possessed.

The resignation has thrown the Liberal government's plans into disarray, with the fiscal update now in limbo. Freeland's departure has sparked reactions from various political figures, with some expressing shock and others pointing to it as a sign of internal discord within the Liberal Party.

Freeland's resignation marks a significant shift in Canadian politics, as she has been a prominent and influential member of Trudeau's cabinet. Her decision to step down underscores the challenges and complexities of political leadership in times of economic uncertainty.




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