toronto real estate market

Sep 16

Bank of Canada 2026 Rate Announcements & Toronto Real Estate

By Mark Savel Advice For Buyers, Advice For Sellers

As 2026 approaches, all eyes are once again on the Bank of Canada (BoC) and its interest rate announcements. After a period of steady adjustments through 2024 and 2025, the BoC has published its official 2026 schedule—dates that will shape everything from mortgage rates to Toronto’s housing market. With Toronto real estate highly sensitive to rate changes, this calendar matters to both buyers and sellers.

The 2026 Announcement Calendar

The BoC has confirmed eight interest rate decision dates in 2026 (Bank of Canada):

January 28
March 18
April 29
June 10
July 15
September 2
October 28
December 9

Each announcement is released at 9:45 a.m. ET. Four of these dates—January, April, July, and October—also come with a full Monetary Policy Report, offering deeper insight into the BoC’s outlook.

Forecasts & Drivers in 2026

So what’s at stake? As of mid-2025, the policy interest rate sits at 2.75%, with economists anticipating gradual cuts through 2025 and into 2026. Forecasts suggest we could see rates ease closer to 2.00%–2.50% by year’s end (True North Mortgage).

The key drivers the BoC will weigh:

Inflation trends – whether price growth holds steady within the 2% target range.
Economic growth – Canada’s GDP recovery pace, especially as tariffs and global trade pressures evolve.
Labour markets – employment strength and wage growth as signs of consumer demand.
Global risks – from U.S. interest rate policies to energy prices and supply chain stability.

Tracking Toronto’s Real Estate Activity

At Toronto Livings, we keep close tabs on the numbers that matter most:

Sales activity – recent TRREB data shows summer 2025 home sales rising modestly compared to last year.
Average prices – while sales are up, prices have faced downward pressure, with buyers negotiating more aggressively in a high-inventory market.
Inventory & listings – more active listings mean more choice for buyers; months of inventory (MOI) is trending higher (Move Smartly).
Condo vs. low-rise – low-rise homes have seen stronger year-over-year recovery, while the condo segment remains softer.

This real-time tracking helps us anticipate how the BoC’s decisions will ripple through Toronto’s housing market.

How Rate Changes Could Affect Toronto Real Estate in 2026

If rates fall: Lower borrowing costs could spur demand, especially among first-time buyers and move-up families. Low-rise homes may see renewed bidding wars if affordability improves.
If rates hold steady: Market momentum may remain muted, with price growth restrained and condos facing continued challenges.
If cuts are slower than expected: Buyers may stay cautious, and new construction projects—already at lower than historical levels—could face further delays.

What Buyers and Sellers Should Watch For

Key dates – mark the BoC’s eight announcements on your calendar.
Statements & reports – focus on inflation commentary, labour market analysis, and forward guidance.
Local market data – keep an eye on TRREB monthly updates for sales, listings, and pricing.

For buyers: staying pre-approved and watching for rate dips could provide an edge.
For sellers: higher inventory means standing out matters more than ever—pricing and presentation will be critical.

Conclusion

The BoC’s 2026 rate decisions are poised to shape not only mortgage costs but also the rhythm of Toronto’s real estate market. With forecasts leaning toward modest easing, the year could bring more opportunities for buyers while keeping sellers on their toes. We’ll continue to track the data and provide insights to help you navigate what’s ahead.

Jul 18

Love0

Rent Control Exemptions in Toronto Explained

By Mark Savel Advice for Landlords

What Is Rent Control in Toronto?

Rent control in Ontario limits how much a landlord can increase a tenant’s rent each year. For 2026, the provincial guideline is 2.1% for most residential units—meaning landlords can’t raise rents above that amount unless approved for an above-guideline increase (AGI).

But not all rentals follow this rule. In Toronto, a growing number of units are exempt from rent control, creating different rules for both landlords and tenants.

Which Rentals Are Exempt from Rent Control?

Post‑November 15, 2018 Units

Any unit first occupied for residential use after November 15, 2018 is exempt under Ontario’s Residential Tenancies Act. This includes:

New condo units rented out for the first time.
Purpose-built rental buildings completed after that date.
Newly finished basement suites or secondary units occupied for the first time after 2018.

Why Are They Exempt?

The Ontario government introduced this exemption to encourage new housing development. By allowing landlords to set market-driven rent increases, policymakers hoped more developers would build rental housing.

What Rules Still Apply to Exempt Units?

Even if a unit is exempt from rent control caps, landlords still must:

Wait 12 months between rent increases.
Provide 90 days’ written notice using Form N2 (VERY IMPORTANT as most landlords we speak with assume Form N1 is sufficient)
Follow all other tenancy rules (e.g., maintenance, eviction regulations).

How This Impacts Tenants and Landlords

For Tenants

Exempt units can see steeper rent increases year-over-year. Budgeting is trickier, and long-term affordability can be uncertain.

For Landlords

More pricing flexibility can mean higher rental income, especially in high-demand areas. But aggressive rent hikes may push tenants out, causing longer vacancies.

Average Rent Increase Comparison

According to Clavis Property Management, exempt units saw average increases of 5–10% annually in recent years—double or even triple the guideline cap.

Should You Rent or Invest in an Exempt Unit?

For renters, exempt units often come with newer finishes and better amenities—but expect rent to grow faster than older, controlled buildings. For investors, these units provide better revenue potential, making them attractive for long-term holds.

Thinking about renting or investing in Toronto? Talk to our team. We help clients understand how rent control exemptions could affect their long-term plans.

FAQ

Can my landlord raise my rent anytime?

No. Even in exempt units, landlords must wait 12 months between increases and give 90 days’ written notice.

Can I refuse a rent increase on an exempt unit?

You can’t refuse if proper notice is given, but you can dispute illegal increases at the Landlord and Tenant Board.

Are all new condos exempt?

Most are—if the unit was first occupied after November 15, 2018. Older condos remain under rent control.

Ready to Make a Move?

Whether you’re a tenant navigating rent hikes or an investor weighing the benefits of an exempt unit, our team can guide you through the Toronto rental market. Contact us today to get expert advice and a strategy that fits your goals.

External References:

Apr 17

Love0

What is a Status Certificate and WHY are they important to review before buying a condo?

By Mark Savel Advice For Buyers, Video Blog

One of the most important parts of the condo buying process, is reviewing the corporations Status Certificate!

What is A Status Certificate?

A status certificate is a collection of documents, issued by a condominiums property manager that contains info on:

Contact information – lists out the legal name of the Condo Corporation, Property Management, and Board of Directors.
Maintenance fee amount (Expenses) – both at time of issue and if there are any plans to increase in the near future.
Budget – what the building is spending its monthly maintenance fees on.
Reserve Fund – how much they have saved for the repair and replacement of components in a condo (ie. savings for roof repairs, parking garages, upgrades, etc)
Legal Proceedings/Claims – if any lawsuits are levied against the corporation, or if the corp has levied any against others.
Leasing of Units – how many units are currently tenanted in the building
Notices – announcements of maintenance fee increases, any planned repairs, or other factors that may impact maintenance fees
Bylaws and Rules – The bylaws and rules list what you can or can’t do in a building…Some buildings in the city have outright bans on pets or restrictions on certain breeds and weights.
Insurance Requirements – policies the corp has in place, and requirements for new purchasers to have.

How Order a Status Certificate

A seller can request a status certificate by contacting the buildings property manager. The management company will have 10 business days to prepare and can deliver it in either hard copy or in digital via email.

How Much is a Status Certificate

The certificate will cost $100 + HST and can be paid by either the buyer or seller, depending on how a deal is structured.

Why You Must Request a Status Certificate

Sellers – I often suggest ordering one before you even go to market with your property. As a seller, you have a duty and responsibility to disclose any and all details that could impact the sale of your condo. By ordering a status in advance, you’ll be made well aware any potential pitfalls and can disclose these issues to potential purchasers ahead of time to avoid any issues with closing.

Buyers – In a condo, values are closely tied to how well the building is run (second to location of course). If fees skyrocket, you may find that the buildings value will appreciate much slower (or actually depreciate) than a building with lower maintenance fees. A building with known problems can also have an impact on financing and insurance resulting in higher monthly costs – knowing this in advance can allow you to negotiate a better price, or walk away from the deal all together!

Who Reviews the Status Certificate

It is crucial, you take it to a Real Estate Lawyer who has experience in condo dealings. They are trained in knowing what to look for and the right questions to ask. DO NOT take it to general law firm, or rely solely on a realtors review of it!

How Long Do you Have to Review a Status Certificate

Most clauses generally allow 2-3 days for lawyer review. It’s a small window of time, so it’s best have a candid conversation with your lawyer in advance and tell them exactly how you plan on using the property.

A common misstep is with buyers who spends months out of country. If their plan is to rent it on AirBnB while away, it’s best to make sure there aren’t any rules or bylaws preventing you from doing so!

Remember, a Status Certificate is generally valid for only 90 days – so if a seller produces a Status dated older than 90 days, ensure you request a new one.

When Should You Walk Away From Purchasing a Condo

No matter how in love you’ve fallen with your new purchase – there are a number of reasons you may want to walk once the status certificate is reviewed:

If the corporation has a low reserve fund – with no plans of replenishing
Lawsuits that could result in a loss to the building
Indications of an increase to monthly fees or large repairs
Being blacklisted from lenders or insurance companies

Accompanying Documents That Also Come With a Status Certificate

Other important documents that accompany the status include:

The Declaration
Bylaws
Rules and Regulations,
Certificate of Insurance
Current Budget
Reserve Fund Study
Management Agreements
Financial Statements
New Owner Information
Move-in and Out forms
Other Building forms