Homeowners approaching mortgage renewal should start the process months in advance to avoid limited options and higher costs. Fixed rates have risen, with many facing payment increases around 20%. Early preparation allows securing rate holds, gathering financial documents, and comparing options beyond just rates, including prepayment privileges and penalties. Waiting too long may force rushed decisions and less favorable terms.
The value of Canadian building permits rose 8.8% in August to $13.6 billion, driven by an increase in multi-unit construction permits, which reached $5.8 billion. Residential permits rose by $1.1 billion to $8.5 billion, with single-family permits steady at $2.6 billion. Ontario led the multi-unit growth, followed by British Columbia and Alberta. Despite the monthly rise, the 12-month total home authorizations declined to 299,500 from 305,500.
Canada is launching a $2 billion program to support one million home retrofits over eight years, including a National Heat Pump Rebate for up to 820,000 homeowners. Eligible households below median income can receive up to $10,000, others $2,000, to install electric cold-climate heat pumps. The program targets replacing aging heating systems and aims to reduce emissions by over 25 megatonnes. Additional financing supports energy retrofits in apartment buildings.
Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day.
In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints.
Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows Eve, and later Halloween.
Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Today’s the day to eat candies and sweets to your heart’s content! Happy Halloween!
Burnaby — Most Expensive homes for September 2026.
Listings (sorted by price):
1. Listing R3075747 — $8,140,950
2. Listing R3162392 — $6,198,000
3. Listing R3096479 — $6,000,000
4. Listing R2948052 — $5,880,000
5. Listing R3146247 — $5,810,000
6. Listing R3153196 — $5,499,900
7. Listing R3125654 — $5,498,800
8. Listing R3143168 — $5,498,800
9. Listing R3081703 — $5,345,800
10. Listing R3134242 — $5,290,000
11. Listing R2950984 — $5,200,000
12. Listing R3153099 — $4,998,988
13. Listing R3168420 — $4,988,000
14. Listing R3080972 — $4,850,000
15. Listing R3157830 — $4,788,000
Canadian borrowers could continue facing affordability pressure as borrowing costs remain elevated and economic uncertainty shapes the housing market.
Rate relief could improve affordability, but its impact will depend on inflation, economic conditions, and the Bank of Canada’s policy path.
Buyers may remain cautious, while higher financing costs continue influencing purchasing power, refinancing decisions, and overall housing demand.
For borrowers and investors, planning around current financing conditions remains important rather than relying entirely on future rate declines.
A bank economist sharply cut Canada’s resale outlook, shifting from a much smaller forecast decline earlier in 2026 as bond yields climbed.
National home sales are projected to ↓~5% this year, while avg. prices are expected to finish flat before a modest 2027 gain.
The outlook assumed the central bank would stay on hold near 2%, but modest next-year gains depended on bond yields easing in current Q4.
Support for a recovery also hinged on pent-up demand and a slowly improving job market, though the labour outlook was trimmed after trade tensions.
Even under the baseline, next-year sales were expected to remain well below pre-pandemic levels, showing how elevated yields could extend Canada’s slower reset.
British Columbia's NDP plans a new tax on unsold condominiums left empty over a year, starting at 2% and increasing annually, aiming to improve housing affordability by unlocking about 5,000 units. The party also proposes raising the existing speculation and vacancy tax. Critics argue the tax could harm developers amid poor market conditions, while experts question its effectiveness and intent. The Conservatives oppose the tax, favoring free market solutions.
First-time homebuyers in Canada should assess their finances, set a realistic budget including all costs, and save for a down payment to avoid mortgage insurance. Getting mortgage pre-approval clarifies borrowing limits and locks interest rates. Research the market thoroughly and consider first-time buyer incentives. A home inspection is essential, and be prepared for closing costs. Avoid overextending budgets, skipping pre-approval, ignoring hidden costs, and making emotional decisions.
