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5 Things to Know Today About Your Money — May 12, 2026

  A lot is happening in the Canadian money world right now. From a new sovereign wealth fund you can actually invest in, to lower payroll costs coming your way, here are the five things every Canadian should know about their money today. 1. The Bank of Canada Is Holding Rates — For Now On April 29, 2026 , the Bank of Canada held its overnight rate at 2.25% (Bank Rate: 2.50%, deposit rate: 2.20%). Governor Tiff Macklem has flagged that the economy is growing at a moderate pace as it adjusts to U.S. tariffs, but inflation — now around 2.4% — is edging up due to higher oil prices tied to the ongoing Middle East conflict. The Bank projects 1.2% economic growth for 2026, picking up to 1.6% in 2027. What it means for you: Variable-rate mortgage and line-of-credit holders get a brief reprieve — but watch oil prices. If inflation keeps rising, a rate hike could follow. 2. Your CPP Contributions Are Getting a Cut in 2027 The 2026 Spring Economic Update proposes to reduce the base CPP con...
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Canadian Housing Market Enters Winter Hibernation: What You Need to Know

 


According to a recent news article, the Canadian Real Estate Association (CREA) has reported that home sales in Canada have slowed down in October, with a 5.6% decline compared to September. The article also mentions that both buyers and sellers appear to be holding off for the time being, with some sellers shelving their plans until next spring.

The causes of the slowdown are attributed to various factors, such as higher interest rates, tighter lending rules, rising home prices, and the impact of the COVID-19 pandemic on the economy and consumer confidence. The article also notes that some regions of British Columbia are starting to see softening in average home prices, while average home price declines are still uncommon throughout most of Canada’s major cities.

Despite the slowdown, the Canadian housing market remains active, with 33,921 homes sold in Canada in October, up 0.9% compared with the same month last year. The national average home price rose 1.8% year-over-year to $656,625.

If you’re planning to buy or sell a home in Canada, it’s advisable to keep an eye on the market trends and consult with a licensed real estate agent or mortgage broker. They can provide you with valuable insights and advice on how to navigate the current market conditions and make informed decisions.


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