AGP Executive Report
Last update: 10 hours agoBorrowing Costs: The Bank of Canada raised its key rate by a quarter-point to 2.5%, the first hike in three years. Major banks followed with prime rates at 4.70%, lifting costs for variable-rate borrowers as the central bank warns the housing outlook remains subdued. Market Pressure: Higher mortgage costs threaten to deepen an already weak market. B.C. home sales fell in September even as housing starts rose, while Ontario mortgage arrears are expected to climb through mid-2027. Rental Development: Fengate, acting for LiUNA, and Address acquired a Leslieville site for a purpose-built rental community, adding to Toronto’s pipeline of new homes. Commercial Real Estate: Equity shortages could make Canadian commercial property refinancing more difficult in 2027, as discounted REIT values prompt institutional buyouts.
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