Macro-financial risk
2026-04-26
9 minute read
5 sources
Canada Housing 2026: Immigration Reset, Renewal Cliff, and the BoC Pivot
How Ottawa's population brake, a wave of five-year mortgage resets, and a measured Bank of Canada easing cycle are reshaping the macro-financial outlook for Canadian housing through 2028.
Canada enters 2026 with three forces colliding inside its housing market. The federal Immigration Levels Plan that took effect in 2025 cut permanent resident targets and, for the first time, set explicit ceilings on temporary residents, draining roughly a million people of demand from rental and ownership pipelines by 2027. Simultaneously...