09/15/2026
Numbers for August are in, let's take a look.
Busier, but not competitive. More sales didn't swing things back toward sellers, because new listings kept pace. Buyers are still taking their time, negotiating on price, and keeping their conditions.
Rates are the story this fall. The Bank of Canada held its rate on September 2 for the seventh time in a row, so nothing changes for variable-rate borrowers. Fixed rates are a different story. They follow bond yields, and a jump in yields this month led lenders to raise fixed rates again, by anywhere from about 20 basis points to nearly a full percentage point. Most forecasters expect the Bank to hold for the rest of the year, and the talk has shifted toward possible increases in 2027 rather than more cuts.
For buyers: Prices are down and fixed rates are going up, so the window where you get both soft prices and low rates may be closing. Paying about $28,000 less than last August more than makes up for a quarter-point rate increase on a typical mortgage. If you're planning to buy in the next few months, a pre-approval with a rate hold means a rate increase won't cost you while you shop.
For sellers: Homes are still selling, but only when they're priced for today's market. Buyers compare everything, and a listing priced at last year's values usually ends up chasing the market down with price cuts. Getting the price right from day one, presenting the home well, and being flexible on terms like closing dates will do more for you than waiting for conditions to change.
Thinking of a move soon? Reach out and we've love to chat about your specific scenario!