Real Estate 101 Buy Bank of Canada Holds Rate at 2.75%, and Alberta Expected to Surpass Ontario New Housing Construction Bank of Canada Holds Rate at 2.75%, and Alberta Expected to Surpass Ontario New Housing Construction This week’s top real estate stories. By Jared Lindzon | 2 minute read Aug 1, 2025 Every Friday, Wahi brings you the most important real estate stories from the past week. Holding On To nobody’s surprise, but to many existing and aspiring homeowners’ dismay, the Bank of Canada elected to hold the overnight interest rate at 2.75%. Though economists had widely anticipated the move recently, the year began with hope of deep cuts throughout the summer. Now the bond market is operating under the assumption of no further changes to interest rates in 2025. That’s because, despite slowing economic growth, inflation remains a risk until the trade war is settled, which could be a long time coming, as the one person who could get a deal done seems to have lost interest. Paying Renters to Pay Rent Oh, how the tables have turned on GTA landlords. Only months ago landlords were doing anything they could to get tenants out — enough to inspire the renovictions bylaw that came into effect this week — now they’ll do anything to get them in. According to a new report by Urbanation two-thirds of GTA landlords offered incentives to lure tenants in the second quarter of 2025, up from 36% last year. Some of the most popular perks include a month or two of free rent, furniture store gift cards, free Wi-Fi, discounted moving services, car washes and virtual healthcare services. Cold Markets Still Have Some Burnt Ends Both Toronto and Vancouver are offering a few “hot pockets,” and no, we’re not talking about the pizza-filled microwavable pastry kind. According to Re/Max’s Hot Pocket Communities report, there remain some warm, gooey, cheesy treats to be pulled from the otherwise freezer-burnt package. According to the study, 34.2% of the 416 is seeing growth in detached home sales, while 29% of Greater Vancouver is enjoying an uptick in buying activity. Sales remain strong in Toronto’s Beaches, Annex and Junction neighbourhoods, as well as in Vancouver’s Port Moody, Gulf Islands, Bowen Island, Squamish and The Sunshine Coast. The Smarter Way to Buy & Sell A smart move starts with Wahi. Expert Realtors with unique data-driven insights and up to 1.5% cashback - an average of $15k* after closing on your new home—it all adds up. LEARN MORE Canadian Builders Moving West Take down the decorations and break out the broom, because the construction party is officially over in Toronto. The city that just kept building is finally slowing down amid dismal home sales, declining home prices and rising construction costs. According to the Building Industry and Land Development Association just 510 new homes sold last month, 82% below the 10-year average of 2,800. With construction costs and inventory way up, and prices and transactions way down, builders are shying away from the city. Even Alberta, with one third the population, is expected to surpass Ontario’s new housing construction this year. Renewal Shocks to the System If you’re up for renewal in 2025 or 2026 you better buckle up, because it’s going to be a bumpy ride. That’s according to the Bank of Canada, which is warning that with interest rates stuck on pause for the foreseeable future many Canadians are going to see mortgage costs go up. According to the Bank, about 60% of those facing renewal in 2025 and 2026 will see a payment increase of between 15 and 20%, as the majority are holding onto a five-year fixed rate taken out during the rock bottom interest rate days of the early pandemic. Jared Lindzon Wahi Staff Writer Share this article on social. You might also like Buy and SellRecreational-Property Buyers Are Dipping Their Toes Back in the Ontario Market Aug 18 Buy and SellCanadian Home Prices Flatten in July as Single-Family Homes Join Market Slowdown Aug 18 Anne Alkok, BuyAsk a Wahi REALTOR®: Which Questions Should Buyers Ask Neighbours or Community Groups Before Finalizing an Offer? Aug 15 Become a RealEstate Know-It-All Get the weekly email that will give you everything you need to be a real estate rockstar. Stay informed and get so in the know. Email Address SIGN UP TODAY Yes, I want to get the latest real estate news, insights, home valueestimates emailed to my inbox. I can unsubscribe at any time.
Anne Alkok, BuyAsk a Wahi REALTOR®: Which Questions Should Buyers Ask Neighbours or Community Groups Before Finalizing an Offer? Aug 15