The Deputy Bank of Canada Governor KNOWS Canada housing market is COOKED.

He needs to resign effective immediately. pic.twitter.com/OFbGiwzPVh

— Ghost of Covid Past – Parody (@OwnNothingChill) October 29, 2026

Ontario mortgage arrears expected to keep rising through mid-2027
https://www.newswire.ca/news-releases/ontario-mortgage-arrears-expected-to-rise-through-mid-2027-cmhc-801394159.html
Canada Mortgage and Housing Corporation (CMHC) reported that Ontario’s mortgage arrears rate reached 0.32% in the second quarter of 2026 and is expected to continue rising through mid-2027. The pressure is expected to be concentrated in the Greater Toronto and Hamilton Area and southwestern Ontario. CMHC says this is not a broad national mortgage crisis, but the trend is moving in the wrong direction.

Bank of Canada raises its interest rate to 2.50%, adding pressure to housing
https://www.canadianmortgagetrends.com/2026/10/bank-of-canada-raises-policy-rate-to-2-50/
The Bank of Canada raised its policy rate to 2.50% as energy costs and inflation risks increased. The bank also left open the possibility of further increases. Fixed mortgage rates are influenced heavily by bond yields and may move independently of the policy rate, but higher borrowing costs can still weaken housing demand and make affordability worse.

Canadian home sales fall 7.7% year over year as prices decline
https://stats.crea.ca/
The Canadian Real Estate Association reported that September home sales fell 7.7% from a year earlier. The national Home Price Index declined 3.4% year over year, while the average sale price fell 1.6% to $666,538. Sales also dropped 2.3% from August. CREA cited higher fixed mortgage rates and uncertainty about the economic outlook.