Monthly Mortgage Rate Updates (Canada / GTA)
The Bank of Canada held its policy rate steady at 2.75% in June 2025, marking no change from the previous announcement. This decision was influenced by stable inflation, moderate GDP growth, and cautious optimism about trade stability with the United States. The current Prime Rate remains at 4.75%.
Current Best Mortgage Rates:
- Variable Rate: 4.05% (Prime -0.90%)
- Fixed Rates:
- 3-year: 4.69%
- 5-year: 3.91%
Experts predict potential rate cuts later in 2025 if economic conditions soften further, particularly in response to global trade uncertainties.
Real Estate Market Insights – GTA
Sales Activity:
- Homes Sold in May 2025: 6,244
- Year-over-Year Change: Down by 13.3% compared to May 2024.
- Monthly Trend: Sales increased slightly from April 2025, reflecting a seasonal uptick.
New Listings:
- New Listings in May 2025: 21,819
- Year-over-Year Change: Up by 14%, offering buyers more options.
Prices:
- Average Selling Price: $1,120,879
- Year-over-Year Change: Down by 4%.
- MLS® HPI Benchmark Price: Down by 4.5% year-over-year.
Expert Insight: TRREB President Elechia Barry-Sproule notes improved affordability but advises buyers to work with local REALTORS® to navigate neighbourhood-specific trends.
Featured Blog Summary
Title: Renting vs. Owning in the GTA: Which Is Right for You?
This blog explores the pros and cons of renting versus buying a home in the GTA. Key takeaways include:
- Renting: Flexibility and lower upfront costs.
- Owning: Long-term equity growth and stability.
- Closing Costs: A breakdown of expenses like land transfer taxes and legal fees.
Fun Fact (Did You Know?)
Toronto’s First Subway Line: Did you know Toronto’s first subway line, the Yonge-University line, opened on March 30, 1954? It revolutionized urban mobility and shaped the city’s real estate development!
Events and Activities in the GTA (This Month)
- Toronto Jazz Festival (June 21–30): Enjoy live performances across the city.
- Taste of Lawrence (June 28–30): A food festival celebrating Scarborough’s diverse cuisine.
- Pride Toronto Parade (June 30): A vibrant celebration of LGBTQ+ communities.
- Canada Day Fireworks (July 1): Spectacular displays at various locations, including Nathan Phillips Square.
- Ribfest Mississauga (June 27–30): Mouthwatering ribs and live entertainment.
Closing Remarks
From Tony Sousa, GTA Realtor:
"The GTA market is full of opportunities, whether you’re buying or selling. Let’s chat about your goals—I’m here to help! Reach me at tony@sousasells.ca or 416-477-2620 for a Free Home Evaluation or to learn how I can Guarantee Savings of $10,000 on your next move."
