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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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Trump’s Move to Oust Fed Governor Lisa Cook Sparks Legal and Political Showdown

 

In an unprecedented escalation of tensions between the White House and the U.S. central bank, President Donald Trump announced Monday that he is firing Federal Reserve Governor Lisa Cook, citing allegations of mortgage fraud.

In a letter posted to his Truth Social account, Trump claimed there was “sufficient cause” to remove Cook, accusing her of making false statements on mortgage applications for properties in Michigan and Georgia in 2021. The allegations originated from Federal Housing Finance Agency Director William Pulte, a Trump appointee, who asserted that Cook improperly claimed both homes as her primary residence to secure better loan terms. Cook has not been charged with any crime.

Cook, appointed to the Fed Board by President Joe Biden in 2022 and the first Black woman to serve in the role, swiftly rejected Trump’s authority to remove her. In a statement, she vowed not to resign, calling the move “illegal” and pledging to continue her work to support the U.S. economy.

The firing is expected to trigger a high-stakes legal battle over the limits of presidential power to remove members of the Federal Reserve, an institution designed to operate independently from political influence. Legal experts note that under federal law, Fed governors can only be dismissed “for cause,” a standard that has rarely been tested in court.

Critics, including Democratic lawmakers, have condemned the action as a politically motivated attempt to reshape the Fed’s leadership and pressure it toward more aggressive interest rate cuts. The dispute now heads toward what could be a landmark constitutional fight, with potential implications for the central bank’s independence and the broader U.S. financial system.

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