04/09/2026
What’s Blooming in Real Estate: Spring Market Insights
If you’re looking for a preview of what spring has in store for the housing market in Canada, you’re in the right place. Here’s everything buyers, sellers, investors, refinancers, and everyone else thinking about a change in their housing situation needs to know.
Rates:
Most economists, plus the Bank of Canada itself, have confirmed they believe the policy rate is at the bottom for this rate cycle. For mortgages, that means you’re unlikely to see further rate decreases, so it’s a good time to buy or refinance for a 3-to-5-year term. For those with or looking at a variable rate, there is currently a healthy discount, but over the next two years you’re likely to see a series of increases.
Down Payment News:
Nova Scotia unveiled a new program for home buyers, reducing the minimum down payment to only 2%. Credit unions are offering the consumer mortgage products, and the provincial government is providing lender insurance on the mortgages. Other provinces are taking note, although we’re yet to see any other program announced so far.
Canadian Real Estate Association:
CREA announced a decline in home sales to start the year, but suggested it was weather related rather than a market downturn. The main reason they believe the market is poised for an uptick is the pent-up demand from buyers 25-40 years old. It’s the biggest home buying cohort in Canadian history, and the buyers have been shut out for the past 3-4 years due to affordability and market conditions. But now rates are at their low point, and 75-85% of the group still want to be home owners. Timing is right for action.
