Frank Regehr at Royal Lepage Realty

08/11/2026

ENVIRONMENT
Canada’s wildfire season has gone from bad to worse

One of Canada’s worst-ever wildfire seasons has turned fatal.

Driving the news: An 80-year-old woman was killed in a wildfire near Summerland, B.C. that doubled in size overnight and sparked one of the largest evacuations in the province’s history. Over 22,000 B.C. residents have already been forced to evacuate their homes, while nearly 10,000 more have been told to prepare to do so.

Premier David Eby declared a state of emergency on Saturday, saying that the Summerland fires were “like a bomb going off.” Ottawa is now coordinating with the province to find shelter spaces for evacuees.

B.C. now has 105 active wildfires, 70 of which have sprung up in the last week. With fires cutting off evacuation routes, first responders have had to fly into communities to rescue stranded residents.

Why it matters: The speed and scale of the B.C. blazes are the latest reminder of how volatile Canadian wildfire season has become. On July 7, the total area burned nationally was less than half the 10-year average. Just over a week later, ~300 new wildfires had sprung up — mostly in Ontario — and the total area burned hit 2.78 million hectares, well above the same 10-year average.

What’s next: With dry conditions and strong winds persisting, the fires in B.C. are expected to get worse before they get better.

07/29/2026

Buying a Home Is More Than Just the Down Payment

One of the biggest surprises for first-time buyers is realizing that they need to budget for more than just the down payment.

Preparing clients for these additional costs can help transactions go much more smoothly.

Here are a few expenses buyers should plan for:

🏡 Home Inspection�While not always required, a home inspection is an important investment that can help buyers understand the condition of the property before closing.

⚖️ Legal Fees & Disbursements�Every purchase requires a lawyer or notary to complete the transaction. Costs will vary depending on the purchase.

📋 Closing Adjustments�Buyers may need to reimburse the seller for prepaid property taxes, condo fees, or utilities.

🏦 CMHC Insurance (If Applicable)�If the down payment is less than 20%, mortgage default insurance will apply. While it's typically added to the mortgage, buyers should understand how it affects their financing.

🚚 Moving & Utility Costs�Moving expenses, utility hookups, internet installation, and immediate home purchases can add up quickly.

💡 Realtor Tip:�Having these conversations early helps buyers feel more confident and reduces surprises once an offer has been accepted.
�A successful home purchase isn't just about qualifying for a mortgage—it's about being financially prepared for everything that comes with becoming a homeowner.

07/29/2026

07/27/2026

https://blog.royallepage.ca/canadas-housing-market-poised-for-a-fall-rebound-after-a-slow-spring/

Following a slow start shaped by a prolonged winter and lingering economic unease, Canada’s spring housing market began to find its footing in May,…

07/20/2026

BoC in a holding pattern
Close-up of Bank of Canada sign on Wellington Street.
As widely expected, the Bank of Canada held its policy rate steady at 2.25 per cent for the sixth straight meeting last week. Governor Tiff Macklem said policymakers are trying to steer inflation back to two per cent — the sweet spot for supporting economic recovery. But uncertainty in the Middle East continues to loom over future decisions. If gas prices climb again and stay elevated, Macklem warned that a series of rate hikes could follow. For mortgage holders with variable-rate mortgages or home equity lines of credit (HELOCs), the unchanged rate means borrowing costs remain steady, at least for now.

07/15/2026

Canadians are home swapping to save money on travel
It's home swapping season.

By Lucas Arender
Jul 13, 2026

More Canadians are looking to live out the plot of The Holiday. No promises on stumbling into a young Jude Law in a turtleneck, but you’ll definitely save some cash.

Driving the news: Home exchange platforms are seeing a surge in popularity, particularly among Canadian travellers, according to new data collected by CBC News.

Popular platforms including People Like Us and HomeExchange (the actual site used in the movie The Holiday) said Canadian membership has jumped 20% and 30% respectively over the past year.

HomeExchange says there are over 15,000 exchanges planned in Canada this summer. That’s a nearly 30% jump from the same time last year.

Catch-up: Home exchanges offer a lot more flexibility than they used to. Platforms like Kindred use a credit system, allowing members to earn credits when people stay in their space that they can then use to stay in other members’ homes.

That allows users to book places anywhere in the world on their own timeline, rather than being limited to swapping with the traveller staying in their home.

Why it matters: Accommodations make up about a quarter of the cost of an average vacation. Aside from a small membership or cleaning fee, these home exchange platforms are more or less free, offering an affordable way to see the world at a time when travel costs are up across the board.

Meanwhile, short-term stay platforms that used to offer an affordable alternative have become more expensive. Airbnb prices are up around 25% from pre-pandemic levels and can often be more expensive than hotels, depending on the length of stay.

Our take: Modern home swapping apps seem to have a similar value proposition as the early days of platforms like Airbnb and VRBO (affordability, being embedded in a real local’s home, getting personal recommendations from the host). Maybe they can recapture some of that magic.

07/15/2026

WORLD
The Gordie Howe bridge will open after Canada gives concessions

Source: Handout / Gordie Howe International Bridge.

The Gordie Howe International Bridge now has an official opening date of July 27. Of course, there is a catch.

What happened: After fronting the entire $6.4 billion cost of the new link between Windsor and Detroit, Canada has agreed to new, less favourable terms demanded by Washington to get the bridge opened.

Under the new terms, Canada will give up 50% of toll revenue for 15 years, which will now flow into a U.S.-controlled “economic development fund.” Canada was originally entitled to 100% of toll revenue until it had recouped the cost of the bridge, something that was expected to take at least 50 years.

Canada will also have to get permission from the U.S. to raise tolls by more than 10%, or to lower them below levels charged by other local crossings — a clause that will please the owners of the nearby Ambassador Bridge, who also happen to be major Republican donors.

Why it matters: The bridge will be a real boon for commercial traffic and the industries that depend on goods moving smoothly across the border, like the auto sector. It has six lanes versus the Ambassador’s four, more inspection lanes, better tech, and bypasses downtown Windsor. One estimate pegged the time savings for trucks at 850,000 hours per year.

Yes, but: Remember that scene in Star Wars when Lando Calrissian protests that Darth Vader isn’t honouring the terms of their agreement, and Vader informs him: “I am altering the deal. Pray I don’t alter it any further.” Well, that’s sort of what happened here, raising some obvious questions about how much other deals with the U.S. — like, say, a major free trade agreement currently being negotiated — are worth.

07/14/2026

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07/14/2026

https://blog.royallepage.ca/canadas-housing-market-poised-for-a-fall-rebound-after-a-slow-spring/?utm_source=ActiveCampaign&utm_medium=email&utm_content=NEW%21%20Royal%20LePage%20s%20Q2%202026%20Home%20Price%20Update%20and%20Market%20Forecast%20%F0%9F%8F%A1&utm_campaign=2026%20Affordable%20Cities_EN%20ALL%20%28Copy%29

Following a slow start shaped by a prolonged winter and lingering economic unease, Canada’s spring housing market began to find its footing in May,…

07/13/2026

Bank of Canada expected to hold rates steady
Close-up of Bank of Canada sign on Wellington Street.
The Bank of Canada is expected to leave its key interest rate unchanged at 2.25 per cent on Wednesday. “The BoC has been walking a tightrope lately as forces like U.S. tariffs and the Iran war threaten to both weaken growth and push inflation higher,” the Canadian Press reports. Governor Tiff Macklem has said the bank will look through a short-term rise in inflation tied to the war, which hit 3.2 per cent in May, the highest rate of inflation since late 2023. Most economists expect the Bank of Canada to remain on hold through the rest of 2026.