Canada Housing Market 2026: Bank of Canada Warns Rate Cuts Won’t Solve Affordability
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Canada Housing Affordability 2026: Bank of Canada Says Rate Cuts Alone Cannot Fix the Crisis Canada | October 4, 2026 Estimated reading time: 8–10 minutes Canada’s housing market has become cheaper in some places, mortgage conditions have changed, and governments have rolled out new support for first-time buyers. Yet the Bank of Canada says the country is still nowhere near solving its housing-affordability problem. In a major housing speech this week, Senior Deputy Governor Carolyn Rogers warned that Canada’s affordability challenge cannot be fixed simply by raising or lowering interest rates. The deeper problem is that housing supply has failed to keep pace with demand, while zoning restrictions, infrastructure constraints and the growing role of property as an investment have made the market more difficult for both buyers and renters. That is an important message for anyone waiting for lower mortgage rates before buying a home. A rate cut may reduce monthly borrowing costs. Bu...