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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’s eastern corridor is bracing for an extended bout of extreme heat and oppressive humidity that’s stretching from Toronto across the Maritimes to St. John’s. With temperatures climbing well into the 30s°C (high 80s–90s°F) and humidex values soaring past 40, public health officials are sounding alarms.

Health Risks on the Rise
Meteorologists warn that these conditions pose serious risks, especially to seniors, young children, and people with preexisting health conditions. Emergency cooling centers have opened in several cities, and hospitals are preparing for an uptick in heat-related illnesses.

Record-Breaking Trend
This stretch of hot weather, fueled by stagnant air and high dew points, follows a summer marked by erratic climate patterns. Environment Canada noted this could become one of the most intense and prolonged heat events in recent memory.

How to Stay Safe
Officials advise residents to:

  • Drink plenty of fluids and avoid strenuous activities during peak daylight hours
  • Check on vulnerable neighbors and family members
  • Keep pets hydrated and indoors during the hottest parts of the day

Whether you're on Bay Street or the rocky shores of Newfoundland, this isn't just “summer heat”—it's a serious situation demanding care and caution.



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