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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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Orban Rejects Euro Adoption, Calls EU a “Disintegrating Union”

 

Hungarian Prime Minister Viktor Orban has once again sharpened his criticism of the European Union, declaring that Hungary should not adopt the euro as the bloc faces what he described as “disintegration.”

In an interview with the economic news site EconomX, Orban argued that tying Hungary’s future more closely to the EU through euro adoption would be a mistake. “Hungary should not tie its fate closer to the European Union than now, and adopting the euro would be the closest possible link,” he said.

Hungary, which joined the EU in 2004, has benefited from billions of euros in development funds but has clashed repeatedly with Brussels over rule-of-law concerns. The EU has suspended significant funding to Budapest, citing democratic backsliding under Orban’s government.

Unlike Denmark, Hungary does not have a formal opt-out from the euro, but it has yet to meet the economic conditions required for membership. Several of its regional neighbors, including Poland, the Czech Republic, and Romania, also remain outside the eurozone.

Orban’s remarks stand in stark contrast to the agenda of opposition leader Peter Magyar, who has pledged to unfreeze EU funds and move Hungary closer to adopting the common currency ahead of the 2026 parliamentary elections.

Meanwhile, Hungary’s central bank has kept one of the EU’s highest interest rates at 6.5%, a policy that has helped strengthen the forint against the euro but has also drawn criticism from Orban, who suggested the rate was “higher than it could be.”

The comments underscore the deepening divide between Budapest and Brussels, as Hungary positions itself as a reluctant member of a union it increasingly views with skepticism.


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