Mike the Mortgage Guy

Mike the Mortgage Guy I'm an independent Mortgage Agent with Dominion Lending Centres Parato Mortgage Group.

Welcome to the August issue of my monthly newsletter!As the dog days of summer come to an end (technically they run from...
08/04/2026

Welcome to the August issue of my monthly newsletter!

As the dog days of summer come to an end (technically they run from July 3 – August 11), let’s take a look at what in the world this saying means.

Dating back to Roman and Greek empires, the phrase was based on the star Sirius (or Dog Star), which translates to ‘scorching’. The star’s rising coincides with what’s now those dates between July and August, the hottest time of the year. It was first translated to English in 1530, still associated with the Dog Star and hot weather. Nowadays, it has lost the astronomical connection, replaced by the link to the hottest days of summer, bringing low energy during the most humid weeks of the year – much like a lazy dog.

But did you know our sluggish reaction to heat is actually a biological response? When temperatures rise, your body works overtime to keep cool, and that effort depletes your energy, leaving you feeling sluggish, exhausted, and less motivated to move.

From Browsing to Buying: When to Get Prequalified or Preapproved

If the idea of buying a home is a blip anywhere on your radar in 2026, you need to know about the prequalification and preapproval process. I’ve got you covered with this Q&A that will give you confidence no matter how far out your home purchase is.

Q: What exactly is a prequalification?
A: A prequalification is a preliminary review of your finances and home purchase budget. It gives you a rough estimate of how much you can afford to spend on a home, and how much financing you could reasonably expect to qualify for. You’ll learn rate types and terms and start considering what will work best for you.

Q: So then what’s a preapproval?
A: A preapproval is a more detailed look at your finances, including substantiating paperwork and other documents. It requires a credit check, your personal information, and detailed financials. Realtors and sellers take this as serious interest in the property.

Q: Does a preapproval guarantee your mortgage financing?
A: No. Because a preapproval is not specific to a property, it’s not a guarantee you can get financing for just any property. The property has to be approved, may need an appraisal, and the final purchase price must meet income ratio guidelines. You’ll apply for a full approval once you’ve selected and made an offer on a home.

Q: At what point should I get a prequalification?
A: BEFORE you start house shopping. When you first start thinking you might have enough for a downpayment, and you want to get a rough idea of what you could afford.

Q: At what point should I get a preapproval?
A: When you’re ready to start seriously house shopping. You’ve got a neighbourhood and some requirements in mind. You’d like to start going to open houses, and ideally make a purchase within the next 1-4 months. You’ll have a more confident and comfortable buying experience if you have one before you make an offer on a home. Just a note here that the property you put an offer in on will still need to be approved by your lender before a mortgage is guaranteed approval.

Q: Where do I get a prequalification or a preapproval?
A: There are two sources for these. The first source is a mortgage broker (like me!), who will review your numbers and shop around to a variety of appropriate lenders on your behalf. I won’t lend you the money directly, but I’ll be the bridge between you and a lender. The second source is directly from a lender (like a bank, credit union, or private lender), which you have to search out and request yourself from each individual lender. With a broker, you’ll have more options and do less work, often for no fee.

Q: How long does it take to get a prequalification or a preapproval?
A: A prequalification can be done pretty quickly and easily, usually in under half an hour. A preapproval means you’re confirming documents and validating finances, so this takes longer. Sometimes as little as an hour, but sometimes a couple days.

Q: Do I automatically get a rate hold?
A: First, a rate hold is exactly what it sounds like – the lender will hold a specific rate for you. This protects against any rises, but if rates fall, that’s still good news as the lender will provide you the new lower rate. Back to the question – where the answer is both no and yes. A prequalification doesn’t include a rate. A preapproval on the other hand does include a rate hold, valid up to 120 days. Be sure to confirm how long the rate is on hold for as that can vary from lender to lender.

Q: What do I need to get a preapproval?
A: You’ll need to bring a list of your assets (including proof of your downpayment), income confirmation documents (like a pay stub), and a detailed account of all your debts (including what the debt is, the outstanding amount, and the payments on it). You’ll also have to provide identification.

Q: How long do my prequalification and preapprovals last?
A: The prequalification is just an estimate, so as long as your finances and employment don’t change, you will still have the same prequalification. Your preapproval on the other hand is based on confirmed documents and usually lasts 90-120 days. Sometimes it’s as little as 60, and in some cases, it can be extended – depending on the lender and your application. Talk to me to confirm the terms for yours.

If you still have questions about a prequalification or preapproval, I’m here for you! Give me a call or send me an email any time.

Stop the Swarm: Easy Ways to Ditch Wasps, Mosquitoes and More

The summer is the perfect time to get outside and enjoy the warm weather and sunny rays. But our wild Canadian weather brings more than just wind and rain (and hail for Albertans); it also brings insects of all shapes and sizes! If you want to banish bugs from your beautiful backyard, here are a few tips for handling those uninvited guests.

Mosquitoes: Prevent them by getting rid of standing water, like bird baths or clogged eaves troughs. Also be sure to cut your grass regularly so it doesn’t get long enough for them to enjoy breeding in. Then, get yourself a mosquito coil, a Thermacell repellant, or make a homemade repellant with equal parts water and vodka, spiked with plenty of eucalyptus oil.

Ants: Don’t spray individual ants – take aim at eliminating the whole colony with liquid ant bait either near their residence or at all the entryways to your own. If you don’t have pets or little kids who might eat it, you could make your own bait with borax and either powdered sugar or peanut butter in a shallow dish. If the ants are in your house, do a perimeter check and trim down branches or flowers that touch the house, as that’s the trojan horse ants often use to get in.

Wasps: If you see (or hear!) a wasp nest, take action by mixing ¼ cup of dish soap with water in a spray bottle and dousing it. If you don’t want to get that close, you can opt for a store-bought wasp spray which works up to 10 meters away. If any are trying to get indoors, mix peppermint and lemongrass oils with water and spray your eaves, porch roofs, and other crevices to repel the pests. If you can’t find the source of the buzzing bugs, buy a wasp trap (or make your own with sugar water) and hang it nearby.

Asian Lady Beetles: Not to be confused with ladybugs, this invasive species is gaining way too much traction in Canada. They stink if you squish them, so be prepared. A general-purpose insecticide should work to keep them out of your home or yard. You can also plant (or buy if you don’t have a green thumb) chrysanthemums, which naturally repel these pests. If they get in the house, a dish soap and water solution in a pan – strategically placed under a lamp, incubator style – should catch them for easy disposal.

With all that being said – did I miss a bug you can’t seem to get rid of? Or do you have other home remedies you’ve found effective? I’d love to hear about them if you do!

Economic Insights from Dr. Sherry Cooper

Canada's resale housing market showed its first broad signs of stabilization in June 2026. National home sales rose 0.5% month-over-month, a third consecutive monthly gain that left activity roughly 7% above its March level.

New listings fell 1.3%, tightening the sales-to-new-listings ratio (SNLR) back above the balanced-market midpoint for the first time this year. The National Composite MLS Home Price Index (HPI) was flat month-over-month, ending a run of declines that had persisted since January 2025, though it remained 3.6% below a year earlier.

Resale Market by Region

The seasonally adjusted annual rate (SAAR) of housing starts fell 6% from May to 238,971 units, and the six-month trend eased 2.8% to 248,123 units, which is the lowest level we’ve seen in about a year.

Across the provinces, sales momentum was broadly positive. Most provinces posted a month-over-month sales gain. Price performance split cleanly: benchmark values fell year-over-year in B.C., Alberta, Ontario, and Nova Scotia, and rose everywhere else, led by Newfoundland & Labrador (+10.8%). Manitoba, Saskatchewan, Alberta, and Quebec were tight seller's markets, while Ontario was the only outright buyer's market and B.C. the most oversupplied.
Housing Starts by Region

National starts fell 6% to a 238,971 SAAR, below the ~258,000 markets expected, with the decline concentrated in multi-unit construction. Ontario, Alberta, and B.C. led the pullback; Quebec and the smaller Prairie provinces bucked the trend. Among major metros, actual year-over-year starts rose in Toronto (+25%) and Montréal (+10%) but fell sharply in Vancouver (−35%).

Sales-to-New-Listings Ratio by Region

The SNLR is the clearest single gauge of market balance: readings above ~60% lean toward sellers, below 45% toward buyers, and the 45–65% band is broadly balanced. The distribution captures June's core theme — the Prairies, Quebec, and much of Atlantic Canada are tight, seller-favouring markets with rising prices, while Ontario and British Columbia remain loose and price-soft.

Key Takeaways

1. Stabilization, not recovery. Sales rose for a third straight month and the benchmark price stopped falling for the first time since January 2025, but the improvement is driven more by falling supply than surging demand.
2. Price weakness is concentrated. Year-over-year benchmark declines are confined to B.C. (−5.0%), Ontario (−4.6%), Alberta (−1.7%), and Nova Scotia (−1.3%); every other province posted gains.
3. Construction is cooling. Starts fell 6% with the trend at a one-year low, led by Ontario, Alberta, and B.C.; Quebec and the smaller Prairie provinces bucked the trend.
4. Metro divergence in building. Toronto (+25%) and Montréal (+10%) starts rose year-over-year while Vancouver dropped 35%.

In honour of tell a joke day coming up on August 16, here’s a few options that crack me up:

Why was the picture sent to jail? It was framed.

What’s worse than it raining cats and dogs? Hailing taxis.

What did the cupcake tell its frosting? I’d be muffin without you.

And that’s a wrap for another month – thanks for reading!

If you’d like to be added to my distribution list, send an email to [email protected]

You can apply online today by visiting:
https://velocity.newton.ca/sso/public.php?sc=t675zfpk48mb

You can download my mobile mortgage app in the App Store/Google Play or by visiting:
dlcapp.ca/app/mike-bohte

Welcome to the July issue of my monthly newsletter!When you think of a classic Canadian fast-food company, does A&W come...
07/08/2026

Welcome to the July issue of my monthly newsletter!

When you think of a classic Canadian fast-food company, does A&W come to mind? It should! It has been completely Canadian owned and operated since 1972 and has over 1070 locations across the nation. The same is true of Mortgage Architects, Mortgage Centre Canada, and Dominion Lending Centres - all brands that are 100% Canadian owned and operated and proudly part of DLCG. We’ve already surpassed 500 franchises and have over 9000 agents in our network.

A&W’s nostalgia runs deep with Canadians, thanks in part to Rooty the Great Root Bear, who celebrated his 50th birthday in 2025. We’re not quite there yet, but some of the DLCG brands are celebrating their 20th birthdays this year!

Much like the family of DLCG brands, A&W has grown a lot since the first location (can you guess where it was? Answer at the end of the newsletter!) by focusing on quality and locally sourced ingredients, farming all their beef and eggs right here in Canada. So, no matter where across Canada your adventures take you, make sure you raise a frosted mug and an onion ring to Roy Allen & Frank Wright. And give me, your friendly DLCG mortgage agent a wave as you go by!

Stop Ghosting Your Credit Score — It Notices

In Canada, a credit score is a 3-digit number, maximum of 900, that you build (up or down) based on your use of credit products, such as loans, credit cards and bills. It is constantly changing, so monitoring and improving it is a life-long process.

Interested in how your score is calculated? Here’s the breakdown:

• Payment history of credit cards, car loans, student debt, mortgages, department store credit, and other loans, including tracking any late or missed payments makes up 35% of your score
• Credit history is mostly about how long you’ve had credit for and a track record of how you’ve managed it, and it makes up 15% of your score
• Used credit vs available credit (know as utilization), which looks at revolving credit only, and includes your lines of credit and credit cards. Here it’s about a balance of having the credit vs. using it, and makes up 30% of your score.
• Credit mix means a variety of types of credit being used, and makes up 10% of your score
• Credit inquiries, which are done by lenders every time you apply for credit, and make up 10% of your score

What credit score should you aim for?

When it comes to your credit score, a higher number is better. A bruised score (anything under 560) will mean you’re going to need help getting approved for credit, including a mortgage, car loan, or credit card. Getting a mortgage isn’t out of reach with the help of a mortgage broker, as we have access to alt-A near prime, alternative and private lenders with more flexible lending requirements, some that are exclusive to DLCG.

A good score would be up to 724, a very good score would be up to 759, and an excellent score would cover everything between 760-900. Higher scores mean you’ll have access to more credit and lower borrowing rates, so aiming for something over 660 is a good starting point.

When you apply for credit, a lender will perform a credit check. That check is referred to as a hard hit, and applying for a mortgage is a great example of this. It’s also another reason to use a mortgage broker when you shop for a mortgage – we only do one hard hit on your credit, compared to shopping around yourself and having each lender perform their own. A hard hit is visible on your credit report and impacts your credit score negatively. A soft hit, on the other hand, is something that doesn’t impact your credit score, like requesting your own credit report.

Myths about credit are common. Here are a few things that won’t impact your score.

• Getting married or divorced
• Using debit instead of credit when making a purchase
• Salary changes
• Seeing a credit councillor
• Requesting/monitoring your own credit report for accuracy and fraud

Speaking of monitoring your credit – this is a great way to prevent fraud. Requesting your free credit report from Equifax or TransUnion once a year and looking for inaccuracies or signs of fraud is a great start. You should also be sure to notify banks and creditors when you move.

Want to improve your credit score? Here are the basic principles:

• Pay your bills on time, every time. You don’t have to pay off the full balance of a revolving credit line, but you do need to ensure you make at least the minimum payment on credit cards, lines of credit, etc. A good figure to keep in mind is having the outstanding balance no more than 30-35%.
• Use less credit. Paying off loans, paying down revolving credit sources, and keeping balances as low as possible will reduce your debt load. Don’t apply for new credit if it’s not necessary.
• Keep old accounts. Spring cleaning isn’t going to help you here – you want to keep the accounts you have the most history on open. An old credit card or hydro account can provide a valuable credit track record.

If I messed up in the past, am I doomed forever? No! Over time, and with better credit management, you can overcome financial missteps. The amount of time it takes will vary based on how serious the mistake was though.

If you filed for bankruptcy, you’re looking at that staying on your credit report for 7-10 years. One late payment or a few hard hits will typically take less time to recover from. Regardless, it’s going to take some time, so be patient, put in the effort, and be diligent about future money decisions.

Overall, your credit is important to pay attention to, as it can really impact your life – be it the car you drive or the home you live in. When it comes to your mortgage, I can help you get qualified no matter what your score is – that’s the beauty of using a mortgage broker.
Whether it’s a difficult qualification or negotiating the best rate for the best credit histories, I’m here to help.

Enjoy the Sun and Get Things Done: Your Summer Focus Guide

Summer always seems to be the shortest season here in Canada, when we all want to get outside and enjoy these few months of warm weather. People often feel remorseful if they don’t take advantage of the outdoors – aka sunshine guilt. But unlike our U14 counterparts, most of us have to maintain employment all summer long, putting a damper on those outdoor plans.

Here are three strategies to deal with that sunshine guilt and put you on track for summer maxxing without missing a beat professionally.

Strategy 1: Create opportunities to be outside

• Take your lunch break outdoors, doing something as easy as eating in the sun. You’re entitled to the break, so take it!
• Shift your work hours so that you can finish earlier and enjoy the remainder of the day at your leisure.
• Park further away from your office so you can get a 10- or 15-minute walk in before you get to your desk, or ride your bike to work

Strategy 2: Work it out at work

• If you work remotely, set up your workstation in your yard or on a patio for a few hours a day
• Change up your regular meetings to walking meetings

Strategy 3: Fight the pull of the sun

• Create a summer playlist to keep your vibes and energy up
• Turn on the AC and keep your office temp around 20 degrees, the ideal temperature for peak office productivity
• Stay hydrated to ward off fatigue and keep focused

Hopefully something here will help you stay focused while still enjoying the sun-drenched days of summer we’ve been waiting all year for!

Economic Insights from Dr. Sherry Cooper

Can AI Narrow the Gap Between Productivity Growth in the U.S. vs. Canada? Since 2000, Canadian labour productivity has increasingly lagged the U.S. Statistics Canada notes that the Canada-U.S. productivity gap has widened substantially. The Fraser Institute estimates that from 1981 to 2024, U.S. labour productivity increased roughly 127%, compared with 61% in Canada.

Why this Matters

Productivity is the primary driver of real wage growth, living standards, government revenues and international competitiveness.

The U.S. productivity rebound has been driven by strong business investment in technology and AI, increased spending on software, data centres, and automation, and more robust business formation and firm growth.

Canada has generally lagged in business investment per worker, technology adoption, research and development spending and capital deepening.

AI: Opportunity or Risk for Canada?

AI is unlikely to be a job killer, but it could become a major productivity enhancer. AI is having an asymmetric impact on jobs. Rather than eliminating work across the board, AI is reducing demand for occupations dominated by routine, structured, and repetitive tasks while increasing demand for jobs that require analytical thinking, creativity, judgment, technical expertise, and interpersonal skills.[1]

For Canada, this is particularly important because:

• Canada's population is, on average, older than that of the U.S. Canada had a larger Baby Boom, and unlike the U.S., Canada's Millennials do not outnumber Baby Boomers. Canadian labour force growth is slowing as the population ages. Births minus deaths will become increasingly negative by 2028.
• Productivity growth has been weak for nearly a decade.
• Future increases in living standards will depend more on producing more output per worker than on adding more workers.
Why Canada Is Aging Faster

1. Lower Birth Rates
Canada's fertility rate is among the lowest in the G7 and has fallen to record lows.
• Canada: ~1.3 births per woman
• U.S.: ~1.6 births per woman
• Replacement rate: 2.1 births per woman
While both countries face demographic aging, Canada's fertility decline has been steeper.

2. Longer Life Expectancy
Canadians generally live slightly longer than Americans, which contributes to a larger share of seniors in the population.

3. Baby Boomer Retirement
Both countries are experiencing the retirement of the Baby Boom generation, but Canada entered this phase with an older age structure and lower fertility.

4. The Immigration Wildcard
Immigration is the key reason Canada may avoid an even more dramatic aging problem.

Canada admits immigrants equal to roughly 1%-1.5% of its population annually, among the highest rates in the OECD.

Most newcomers arrive between ages 25 and 40, which:

• Boosts the working-age population
• Increases labour force growth
• Slows the rise in the median age

Without immigration, Canada's median age would likely be approaching 45 years already.

The Productivity Connection

This is where demographics and productivity intersect. Historically, economies grow through GDP. GDP Growth = Labour Force Growth + Productivity Growth. For much of the past decade, Canada relied heavily on population growth to drive economic expansion.

The U.S., by contrast, has benefited from faster productivity growth, stronger business investment, and larger technology sectors.

As Canada's population ages, labour force growth will slow, healthcare spending will rise, and the ratio of retirees to workers will increase. This means that future Canadian prosperity will depend increasingly on productivity growth rather than population growth.

Why AI Matters More for Canada Than the U.S.

One could argue that AI is actually more important for Canada than for the U.S.

The U.S. has two growth engines: population growth and strong productivity growth. Conversely, Canada has increasingly relied on immigration-driven population growth. Going forward, Canada will need a second engine.

AI and technology-driven productivity gains could:

• Offset labour shortages
• Increase output per worker
• Support higher wages
• Help finance rising healthcare and pension costs

What Most Demographers Expect

Most projections suggest that by the mid-2030s:
• Canada's median age will remain above the U.S.
• The share of Canadians over 65 will remain higher than in the U.S.
• Immigration will slow, but not stop, population aging.
• Productivity growth will become the critical determinant of living standards.

Canada's biggest long-term economic challenge is not population growth—it is generating enough productivity growth to support an older population. AI may be one of the few realistic ways to achieve that without requiring ever-higher immigration levels. As Canadian firms adopt AI aggressively, the technology could help narrow the productivity gap.

A striking statistic is that in 2024, U.S. productivity growth (2.3%) was almost four times Canada's pace (0.6%). If that differential persisted for a decade, the impact on relative living standards would be substantial.

Bottom Line

Canada does not have an unemployment problem; it has a productivity problem. AI may be the best opportunity in a generation to address it.

Here’s what I’m sure you’ve been waiting for – the great A&W location reveal! The first A&W location in Canada was opened in 1956 in Winnipeg, Manitoba.

Of interest this month is 7-11 day (of course on July 11), where you can visit any 7-11 store for a free small Slurpee to celebrate the chain’s birthday. July 19 is ice cream day, and I’d love to know what flavour you’ll be indulging in – drop me a line any time!

Thanks for reading and I look forward to seeing you back here in August for the next edition.

If you’d like to be added to my distribution list, send an email to [email protected]

You can apply online today by visiting:
https://velocity.newton.ca/sso/public.php?sc=t675zfpk48mb

You can download my mobile mortgage app in the App Store/Google Play or by visiting:
dlcapp.ca/app/mike-bohte

Welcome to the June issue of my monthly newsletter!June is a month nearly all Canadians look forward to – longer days an...
06/05/2026

Welcome to the June issue of my monthly newsletter!

June is a month nearly all Canadians look forward to – longer days and warmer temps lingering into the evening. Speaking of hot air… Did you know the first successful public hot air balloon flight was in the month of June? It was back in 1783 in Annonay, France, where the Montgolfier brothers had developed this first hot air balloon. It was made from paper and burnt straw and wool to generate the hot air that lifted the balloon nearly 2kms into the air. A hot air balloon craze quickly exploded across France and internationally, and within the year a variety of farm animals, and eventually humans, floated into the air marking the beginning of human aviation.

Small Extra Payments = Big Mortgage Wins

Having some extra cash on hand might give you some breathing room on rising gas and food prices, building an emergency fund, or even the ability to make a big purchase you’ve delayed. But – should you pay down your mortgage instead? If you’re considering paying down your mortgage, you’re in luck, because today we’re going to look at how a lump sum payment can transform your mortgage future.

Base Case Scenario

Here we’re going to look at a mortgage with a $500,000 balance at a rate of 4.99% and a 25-year amortization. In this scenario, your monthly payment would be $2,905.18. If we fast forward 25 years to the end of that mortgage, having made no lump sum payments, you’ll have paid $371,554 in interest and a total of $871,554 in payments for your $500,000 mortgage. Although your rate will vary over the course of your mortgage, in this example we’re going to keep it consistent at 4.99%.

Payment Options

When we’re talking about paying down your mortgage early, there are three main ways you can do this. The first is to save a lump sum of cash, which you put down all at once, one time per a year (for example, on your mortgage anniversary). You don’t have to make this payment every year, but you likely have the option to put down a flexible amount of cash with upper and lower limits every year of your mortgage.

The second option is to round up your regular payments to a set amount. Again, there will be upper and lower limits on how much you can pre-pay, but you’ll likely be able to round up by a couple hundred dollars or to the nearest $100, for example.

The third option is to go with accelerated payments, which are normally offered weekly or bi-weekly. Here the lender will calculate the specific amount for you.

Each of these options will help you pay less in interest over the lifetime of your mortgage, with varying impact on the total amount of interest. Below is a chart showing how these three prepayment types can change your mortgage.



As you can see, even a small monthly increase in your payment can save you tens of thousands of dollars on your mortgage. The biggest impact you can make on your own financial future is to change your payment frequency – the more often you pay, the less interest you pay, and the sooner you pay off your mortgage in full! Even if you don’t have a new mortgage, you can start any of these strategies at any time. Whenever you do start prepaying, you’ll start saving time and money over the rest of the term of your mortgage.

Be Aware: It’s important to consult your lender about what prepayment types and amounts allowed within your current mortgage. Many lenders set prepayment amounts as a percentage of your outstanding mortgage balance, although some lenders offer more unique options like doubling a payment.

If you want to run this scenario for your own mortgage, with whatever numbers you have, and different prepayment amounts, I’ve got great news. You can download my app and do it all – easily and for free – whenever you want. And if you have questions, you can DM me right in the app for help. Or call me anytime for help!

Kale Yeah! Edible Garden Plants That Love Canada

Looking to grow some herbs, fruits or veggies this summer? If you didn’t start with seeds 6 weeks ago, don’t worry! You can still make it happen if you work with the growing space you have and pick plants that will thrive under those conditions.

First, you’ll want to consider what growing zone you’re in. Gardeners in Victoria BC are going to have different plant options are going to have different plant options than Timmins ON!

Another important consideration is your yard orientation. You’ll first want to know if the place you plan to plant has full sun (6-10 hours per day), partial sun (morning or afternoon sun, around 4 hours per day), or full shade (little or no direct sunlight). Here are a few options for each condition:

Plants for full sun

• Radishes
• Green beans
• Saskatoon berries

Plants for partial shade

• Lettuce or kale
• Beets
• Cucumber

Plants for full shade

• Mint
• Rhubarb
• Parsley

Bedding Plants

What else should you consider when planting your edible garden? Well, what if you want it to both taste good AND look good? Normally a garden has a bunch of filler flowers, called bedding plants. Think of it like a flower garden, but swap the traditional flowers with flowering vegetables and fancy-leafed plants including swiss chard, basil, eggplant, lavender, hops, chives, arugula, and hot peppers.

Native Plants

If you’re still struggling after all these suggestions, one of the most successful ways to get edible plants to take to your yard is by choosing something that’s native to the growing zone. Across most of southern Canada, popular native (and edible) options are leeks, violets, wild strawberries, fiddleheads, watercress, or sage.

Hopefully you found a new idea here for your garden this summer. If you grow any of these, I’d love to see a picture of the garden!

Economic Insights from Dr. Sherry Cooper - Outlook for the Canadian Housing Market, 2026–2027

Canada's housing market is set to undergo a period of slow recovery and structural a period of slow recovery and structural adjustment in 2026 and 2027.

After several years marked by aggressive rate increases, deteriorating affordability, and uneven regional performance, the market is more likely to stabilize than to stage a dramatic rebound. Forecasts from the Canada Mortgage and Housing Corporation (CMHC), the Canadian Real Estate Association (CREA), and the major financial institutions broadly converge on the same picture: modest price growth, subdued sales activity, and continued supply shortages in key regions over the next two years.

Monetary policy is the central driver of this outlook. The Bank of Canada has lowered the overnight rate from its 5% peak—reached during the inflation-fighting cycle of 2022–2024—to 2.25% today, and the policy rate is expected to remain near current levels through most of 2026.

Market-determined interest rates, however, have moved in the opposite direction. Since the outbreak of the U.S.–Israel–Iran war nearly three months ago, oil prices have surged and inflation expectations have re-priced sharply higher, triggering a broad-based sell-off in government bonds and a meaningful back-up in longer-term yields. The result is a widening gap between the policy rate and the borrowing costs that households and businesses actually face.

Mortgage rates nonetheless sit well below their late-2023 highs, improving affordability at the margin and drawing some sidelined buyers back into the market. A return to the ultra-low borrowing costs that fuelled the pandemic-era boom is not in the cards. The Bank of Canada has been explicit that inflation risks remain elevated—particularly from global energy markets and ongoing geopolitical uncertainty—so rates are likely to hold around current levels through most of 2026 before gradually normalizing in 2027.

Economic growth is expected to remain weak this year, which will cap housing demand. CMHC forecasts Canadian GDP growth of just 0.7% in 2026, making it one of the weakest non-recessionary years in decades. Elevated household debt, soft labour market conditions, and slower income growth are weighing on consumer confidence, which has fallen to a record low. At the same time, reduced immigration targets and slower population growth are easing some of the demand pressures that intensified the housing crisis earlier in the decade.

Home prices are expected to rise only modestly over the next two years. CREA forecasts the national average price to increase roughly 1.5% in 2026 and less than 1% in 2027, leaving prices effectively flat in real terms. CMHC similarly anticipates only limited gains following the price declines recorded in 2025.

Taken together, the market is transitioning out of the speculative conditions of the pandemic era toward a more balanced environment. Buyers have become more price-sensitive, while sellers face stiffer competition from elevated inventory in many urban markets.

Regional divergence will remain one of the defining features of the Canadian market. Ontario and British Columbia are expected to underperform the rest of the country, as affordability remains severely stretched in both provinces. Toronto and Vancouver condominium markets look particularly vulnerable: investor demand has weakened, while developers face rising construction costs and slower pre-sales. CMHC expects housing starts in these markets to remain below historical averages through 2027.

Alberta and parts of Quebec, by contrast, are likely to outperform. Calgary and Edmonton continue to benefit from better affordability, strong interprovincial migration, and comparatively resilient economic growth driven by the energy sector. Quebec's market has remained more stable thanks to lower average prices and a broader mix of housing types. Even these stronger regions, however, are expected to cool somewhat as national population growth slows and rental supply expands.

Housing supply remains the market's central long-term challenge. Canada continues to build far fewer homes than are needed to restore affordability. CMHC estimates that the country requires roughly 430,000 to 480,000 new homes annually through 2035 to return affordability to 2019 levels. Yet housing starts are forecast to fall from approximately 259,000 units in 2025 to about 247,000 in 2026 and 223,000 in 2027. Developers are delaying projects in response to financing costs, weaker demand, labour shortages, and elevated construction costs. Condominium development is especially weak, while purpose-built rental construction remains the strongest area of activity.

Home prices are expected to rise only modestly over the next two years. CREA forecasts the national average price to increase roughly 1.5% in 2026 and less than 1% in 2027, leaving prices effectively flat in real terms. CMHC similarly anticipates only limited gains following the price declines recorded in 2025.

Taken together, the market is transitioning out of the speculative conditions of the pandemic era toward a more balanced environment. Buyers have become more price-sensitive, while sellers face stiffer competition from elevated inventory in many urban markets.

Regional divergence will remain one of the defining features of the Canadian market. Ontario and British Columbia are expected to underperform the rest of the country, as affordability remains severely stretched in both provinces. Toronto and Vancouver condominium markets look particularly vulnerable: investor demand has weakened, while developers face rising construction costs and slower pre-sales. CMHC expects housing starts in these markets to remain below historical averages through 2027.

Alberta and parts of Quebec, by contrast, are likely to outperform. Calgary and Edmonton continue to benefit from better affordability, strong interprovincial migration, and comparatively resilient economic growth driven by the energy sector. Quebec's market has remained more stable thanks to lower average prices and a broader mix of housing types. Even these stronger regions, however, are expected to cool somewhat as national population growth slows and rental supply expands.

Housing supply remains the market's central long-term challenge. Canada continues to build far fewer homes than are needed to restore affordability. CMHC estimates that the country requires roughly 430,000 to 480,000 new homes annually through 2035 to return affordability to 2019 levels. Yet housing starts are forecast to fall from approximately 259,000 units in 2025 to about 247,000 in 2026 and 223,000 in 2027. Developers are delaying projects in response to financing costs, weaker demand, labour shortages, and elevated construction costs. Condominium development is especially weak, while purpose-built rental construction remains the strongest area of activity.

Thanks for joining me for another monthly newsletter.

Thanks for reading the June edition of my newsletter! Something exciting to look forward to this month is the summer solstice, marking the longest day of 2026 on June 21. Coincidentally, that’s also fathers’ day! Other interesting dates in June are the 15th, when the Magna Carta was first signed in 1215, and the 2nd, when Queen Elizabeth II was crowned in 1953.

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