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5 Things Every Canadian Should Know About Their Money Today

From a rate hold to a sovereign wealth fund — here's what's moving the needle on your finances right now. 01 — DEADLINE Today is the tax filing deadline — and your refund may be a lifeline April 30 is the last day most Canadians can file their 2025 income tax return without penalty. With the cost of living still squeezing household budgets, many Canadians are counting on their refund as a financial cushion. Filing late triggers a 5% penalty on any balance owing, plus 1% for each additional month. If you haven't filed yet, the CRA's NETFILE portal is still open — act before midnight. 02 — INTEREST RATES Bank of Canada holds steady at 2.25% — no relief yet for borrowers The Bank of Canada kept its policy rate at 2.25% yesterday — the third consecutive hold of 2026. Governor Tiff Macklem cited rising inflation driven by higher global energy prices tied to the Middle East conflict, while U.S. tariffs continue to weigh on exports. CPI inflation climbed to 2.4% in Ma...
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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.

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