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  Wednesday, July 8, 2026 Global markets are on edge this morning after U.S. President Donald Trump told reporters at the NATO summit in Ankara, Turkey, that he believes the ceasefire between the United States and Iran is “over,” following renewed strikes in the Middle East. The comments came after the U.S. carried out fresh strikes on Iran overnight in response to attacks on three commercial vessels in the Strait of Hormuz, and Iran's Revolutionary Guard said it struck American targets in Bahrain and Kuwait in retaliation. The escalation has sent oil prices sharply higher, pulled North American futures lower, and pushed government bond yields up around the world. 🍁 Canada: TSX Closes Higher, Energy in Focus at the Open The S&P/TSX composite index closed Tuesday's session up 60.27 points at 35,272.59, outperforming its U.S. counterparts as a rotation into energy and financials offset weakness tied to the global tech selloff. With crude prices spiking again overnight on the...
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Toronto’s Housing Market Plummets to a 13-Year Low Amidst Higher Mortgage Rates

 


Toronto’s housing market experienced a significant decline in 2023, with home sales dropping to a 13-year low. According to a report by the Toronto Regional Real Estate Board, the number of home sales in the Greater Toronto Area (GTA) fell by 11% compared to the previous year . This decline can be attributed to the rise in mortgage rates, which made it difficult for potential buyers to afford homes.

The average home sold price in the GTA for November 2023 was $1,051,180, which is a 7% drop compared to the previous month . The report also states that the GTA housing market has been in a deep buyer’s market for the past few months, with the sales-to-new-listings ratio (SNLR) being 40% in November 2023. This means that there are comparatively more properties available for purchase than buyers in the market, giving buyers more leverage in negotiating prices and terms. However, the GTA is now once again in a balanced market, with buyers losing favour as sellers regain some control in the market .


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