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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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Canada Swelters Under Widespread Heat Warnings

 

This latest bout of sweltering temperatures marks the sixth time the Greater Toronto Area has been under a heat warning this year.

A wave of intense heat and humidity has gripped large swaths of Canada, prompting Environment Canada to issue heat warnings across Ontario, Quebec, the Atlantic provinces, and parts of British Columbia.

Southern Ontario is experiencing some of the most punishing conditions, with daytime highs soaring to 35°C and humidex values nearing a stifling 40°C. The Greater Toronto Area is under its sixth heat warning of the year, with overnight temperatures lingering in the low 20s, offering little relief.

Quebec and the Atlantic provinces—including New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador—are also under advisories, with humidex values expected to reach up to 42°C in some areas. In British Columbia, heat warnings are in effect for Vancouver Island, the Sunshine Coast, and southern regions like the Fraser Canyon and South Okanagan.

Environment Canada urges residents to stay hydrated, wear light clothing, and avoid strenuous outdoor activities during peak heat hours. Vulnerable populations, including the elderly and those without access to air conditioning, are especially at risk.

With the heat expected to persist into midweek in some regions, officials recommend checking on neighbours and loved ones and seeking out cooling centers where available.

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