RateStreet Financial

Bank of Canada maintains policy rate at 2.25%. Upcoming announcement dates:

March 18
April 29
June 10

https://zurl.co/jmNTS

Canada’s US Tariff’s increased to 35%

https://zurl.co/3Bbmf

Trump increases tariff on Canada to 35%, White House says Donald Trump on Thursday signed an executive order increasing tariffs on Canadian goods to 35 per cent from 25 per cent on all products not covered by the U.S.-Mexico-Canada trade agreement, the White House said.

The Bank Of Canada is expected to stay put tomorrow, but perhaps what’s more interesting is the difference in predictions from the banks.

Desjardins expects no cut tomorrow, but 3 more cuts this year. BMO expects the BOC to get to the same 2.0% by July 2026, while RBC predicts no changes at all.

Notably, RBC also has the largest number of residential mortgages coming up for renewal in 2025/26. And based on their prediction, will most likely suggest fixed rates for their renewal clients. * If rates go down, clients with fixed rates may be faced with Interest Rate Differential (IRD) penalties if they want or need to refinance later. Statistically ~60% of all mortgagors will want or need to break their mortgage within the first 36 months, due to relocation, divorce, job change/loss, etc..

https://financialpost.com/news/economy/canadian-dollar-rise-tamed-rate-cuts

Employment Insurance stats for May are released tomorrow. Here’s a preview..

https://zurl.co/igpMP

Bank of Canada’s next meeting July 30.

🏡 CREA’s Canadian housing market report for June 2025:

➡️ Home sales up 2.8% May to June

➡️ Non-seasonally adjusted sales up 3.5%

➡️ MLS® Home Price Index (HPI) flat (-0.2%) month-over-month, down 3.7% year-over-year

CREA’s Report 👉 https://zurl.co/jm6MQ

Quarterly Forecasts Encouraging, empowering and enabling REALTORS® in support of Canadian real estate journeys.

Happy Canada Day! 🇨🇦