Skip to main content

Featured

TSX Slumps as Central Banks Hold Steady

  Canada’s Main Index Suffers Sharpest Drop Since May The Toronto Stock Exchange’s S&P/TSX composite index fell 169.92 points, or 0.6%, to close at 27,369.96 on Wednesday, marking its steepest single-day decline in ten weeks. The drop followed a record high the previous day, underscoring investor unease as both the U.S. Federal Reserve and the Bank of Canada opted to keep interest rates unchanged. The materials sector led the retreat, sliding 2.1% amid tumbling copper and gold prices. Financials and technology also posted losses, down 0.6% and 0.5% respectively, as eight of the index’s ten major sectors ended in the red. Market sentiment soured after the Fed’s decision to hold rates steady offered no clear timeline for future cuts, disappointing investors hoping for dovish signals. Meanwhile, the Bank of Canada maintained its benchmark rate at 2.75% for the third consecutive meeting, citing reduced risks of a global trade war. Among individual stocks, Capital Power Corp sa...

article

Toronto Home Sales Rise for Third Consecutive Month Amid Falling Prices

 

Toronto’s housing market is showing signs of a cautious rebound, with home sales in the Greater Toronto Area (GTA) climbing for the third straight month in June. According to the Toronto Regional Real Estate Board (TRREB), seasonally adjusted sales rose 8.1% month-over-month to 5,068 units—the highest level since January.

Despite the uptick in activity, prices continued their downward trend. TRREB’s home price index dipped 0.9% to C$978,200, marking a continued decline since December. This combination of increased inventory and lower prices has shifted the balance of power toward buyers, who are now negotiating discounts and enjoying more choice in the market.

Why the Shift?

  • Lower borrowing costs: The Bank of Canada has slashed its benchmark interest rate by 2.25 percentage points since June 2024, making mortgages more affordable.
  • More listings: New listings rose 7.7% year-over-year, giving buyers more leverage and reducing the pressure of bidding wars.
  • Economic uncertainty: Ongoing trade tensions and a slowing economy have kept some sellers motivated and prices in check.

TRREB President Elechia Barry-Sproule noted that “homeownership is becoming a more attainable goal for many households in 2025,” thanks to improved affordability and increased supply.

While the market is still recovering from last year’s slump, the current trend suggests a more balanced playing field—at least for now.

Comments

Popular Posts