Canadian home sales jump 5.5% as the spring market regains momentum
Home sales recorded through Canadian MLS systems increased 5.5% month over month in May, while new listings edged down 1%.
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%
Best 5-Year Fixed
4.59%
RBC • Less than 20% down; insured conditions apply
APR 4.62%
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Estimated Monthly Payment
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$185 lower vs +0.50%Down Payment
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Down payment20%
Daily Market Update
Canadian home sales rebound while fixed-rate pricing stays competitive.
May home sales increased nationally, led in part by Ontario, while borrowers continue to compare fixed-rate offers carefully.
Read full insightToday's Mortgage Pulse
View all newsBank of Canada holds the overnight target at 2.25% and flags July 15 as the next decision
The Bank of Canada maintained its policy rate and pointed borrowers to the July 15 decision as the next scheduled announcement.
Read insightMay housing starts hold nearly flat while Toronto starts decline
CMHC's six-month housing-start trend increased 0.5% to 258,010 units in May, while the monthly seasonally adjusted annual rate fell 6% from April.
Read insightToday's Rate Snapshot
Updated todayLenderProductRateTrend
RBCRBC5 Year Fixed High Ratio Closed4.59%No change
CICIBC5-year fixed high-ratio4.64%No change
BMOBMO5 year Smart Fixed (default insured)4.74%No change
Mortgage Readiness
72%
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