Today, June 10, 2026, the Bank of Canada has announced that it is holding its rate again for the fifth consecutive time at 2.25%, keeping the rate that it had first established on October 29, 2025.
As we have maintained since April 2025, the Canadian economy would gain significant stability from a robust trade agreement with the United States, provided the government can overcome its ineffective negotiation efforts. The USA buys over 75% of Canada’s exports, making the USA Canada’s biggest and most important trade partner. The deadline for the review of USMCA is on July 1, 2026. If Canada does not have a deal by then, it will trigger immense uncertainty for the Canadian economy, as the USMCA will then default to annual reviews.
The USA has almost reached a deal with Mexico. It has not even confirmed any talks with Canada yet. In fact, President Trump had stated in a press briefing on June 10, 2026 that “It was a great deal for one reason: it gave the right to terminate. It was very important that we be able to do that. So we’re talking to them. We’ll see if we do something.”
Despite the Bank of Canada Governor’s dangerous posturing today by having stated, “Recession is not the word I would use,” the salient facts are that Canada has slipped into a recession, mortgage delinquencies are at record highs, and personal debt has increased by over 32%.
This indicates that the market may face increased headwinds shortly.
In Humber Bay Shores, active inventory has risen sharply from 197 active listings this spring to over 257 now, signalling softening demand and potential downward pressure on prices in the coming months.
The best rates that we have seen so far:
3 year fixed at 4.09% (decreased from 4.19% in April 2026)
5 year variable at 3.60%
The next scheduled date for announcing the overnight rate target is July 15, 2026.
E: LDALINDA@DALINDA.NET • TEL: 416-725-7170
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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View all current and past Palace Place listings for sale here.
Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.
View all current and past Palace Place listings for sale here.