What is the current policy interest rate set by the Bank of Canada?

As of June 10, 2026, the policy interest rate is 2.25%.

How does the interest rate affect the housing market?

The interest rate can influence mortgage rates, which in turn affects the affordability of homes for buyers and the attractiveness of selling for sellers.

Where can I find more information on Canadian housing market statistics?

You can find detailed statistics and reports on the Canadian housing market through the Canadian Real Estate Association (CREA) and Statistics Canada.

Canadian Housing Market Update as of 2026-06-12

June 12, 2026

Introduction to the Current Canadian Housing Market as of 2026-06-12

The Canadian housing market is influenced by various factors, including interest rates, housing prices, and government policies. As of 2026-06-12, the Bank of Canada has maintained its policy interest rate, which impacts the entire economy, including the housing market.

What the Latest Official Data Says

According to the Bank of Canada, the policy interest rate has remained at 2.25% since January 28, 2026. This stability in interest rates can affect mortgage rates and, consequently, the affordability of homes for buyers. Meanwhile, the Canadian Real Estate Association (CREA) provides insights into the resale housing market, and Statistics Canada offers data on housing statistics, including homeownership rates, building permits, and new housing price indexes across different provinces.

What it Means in Practice

For buyers, sellers, and renters, the current market conditions mean that the cost of borrowing remains steady, which can influence purchasing decisions. The variation in housing prices and affordability across provinces also plays a significant role in the market. Some key points to consider include:

The homeownership rate varies significantly across provinces, with rates like 75.7% in Newfoundland and Labrador and 19.2% in Nunavut as of 2021.
Building permits and new housing price indexes have seen changes in April 2026, with $12.5 billion in building permits issued in Canada and a -0.4% change in the new housing price index.
The debt service ratio and total outstanding non-bank residential mortgages are important indicators of the financial health of the housing market.

Key Takeaways

Interest rates are currently stable, which can affect mortgage rates and home affordability.
Housing market conditions, including prices and affordability, vary significantly across different provinces.
Government policies and economic factors continue to influence the housing market.