Have Mortgage Rates Hit Their Peak or Just Starting to Dip?
Monthly Mortgage Rate Updates
For June 2025, the Bank of Canada has kept the Policy Rate steady at 3.5%. This decision was influenced by stabilizing inflation near the targeted 2% and modest GDP growth across major Canadian markets.
The current Prime Rate remains at 5.7%, unchanged from the previous review.
Best mortgage rates you can find today:
- Variable 5-year: 5.49%
- Fixed 3-year: 5.19%
- Fixed 5-year: 4.99%
Economists hint a possibility of slight rate cuts later this year, as the economy gains a steadier footing.
Real Estate Market Insights – GTA
Sales Activity: Last month, GTA saw 8,512 home sales—an increase of approximately 6.7% compared to June last year. According to TRREB, modest monthly growth indicates buyer confidence slowly returning in key segments.
New Listings: New listings totaled 13,402, roughly 5% higher than June of last year. The increase is a positive sign for home buyers, promising more balanced market conditions.
Prices: The average GTA selling price rose to $1,212,950 this June. That's a slight yet encouraging increase of about 4% compared to last year. The MLS® Home Price Index Benchmark is $1,148,400.
TRREB analysts mention steady demand supports stable price growth across major housing markets, signaling a healthier market landscape.
Legal Insight Spotlight
Case: Common-law Property Rights Clarified Recently, the Ontario courts clarified common-law property rights. A Toronto couple's separation after a 10-year common-law relationship led to disputes over asset division. The court ruled that both parties had equally contributed to family property, highlighting the importance of clear property agreements in common-law setups.
This emphasizes for GTA residents: always have clear, written agreements, even if not married, to protect your property interests.
Featured Blog Summary
Did you recently move in with a partner but aren't married? Our latest blog explains "Property Rights in Common-Law Relationships". We cover key differences between common-law and married couples' property rights, essential tips for protecting your assets, and real-life examples to clearly illustrate this crucial area.
Fun Fact (Did You Know?)
Did you know Canada's national anthem, "O Canada," was officially adopted on June 27, 1980? Before this date, "O Canada" was sung unofficially since as far back as 1880!
Events and Activities in the GTA (This Month)
- Taste of Toronto Food Festival: June 15-17 at Nathan Phillips Square. Enjoy delicious dishes by local chefs and restaurants.
- Toronto International Dragon Boat Race Festival: June 22-23 at Toronto Islands. Watch exciting races, entertainment and cultural festivities.
- Pride Toronto Parade: June 29, Downtown Toronto. Join one of the world's largest celebrations of diversity and inclusion.
Closing Remarks & Call to Action
Whether buying or selling your home in the GTA, I'm here as your trusted local real estate expert. I'd be thrilled to guide you through your journey with personal, professional advice. Contact me for your free real estate consultation today!
Warm regards, Tony Sousa GTA Realtor Email: tony@sousasells.ca | Call: 416-477-2620
