CMHC Housing Starts Report | May 2016

Diane Buchanan • May 24, 2016

It’s been said that talking about the Canadian Housing Market is like talking about the weather in Canada. “How’s the weather in Canada today”? seems like a rather odd question, it all depends where you are! Similarly, the Canadian Mortgage and Housing Corporation (CMHC) just released a report on the housing starts in Canada for the remainder of 2016 and 2017, indicating that the report reflects significant regional differences . Here is the media release from CMHC.

CMHC Expects Housing Starts to Slow in 2016 and 2017, Reflecting Significant Regional Differences

OTTAWA, May 18, 2016 — Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook (HMO), Canada Edition highlights important regional differences in housing activity. Housing starts at the national level are expected to slow in 2016 and 2017, while MLS® sales will reflect renewed economic growth in 2016 before falling back slightly in 2017.

Report Highlights

  • Annual housing starts are expected to range from 181,300 units to 192,300 units in 2016 and from 172,600 units to 183,000 units in 2017.
  • Multiple Listing Service ® (MLS ® ) sales are expected to range from 501,700 unites to 525,400 units in 2016 before dropping into a lower range of 485,500 units to 508,400 units in 2017.
  • The average MLS ® price is forecast to be between $474,200 and $495,800 in 2016 and between $479,300 and $501,100 in 2017.
  • There will be strong variations in housing market activity across provinces. Slower growth in oil-producing provinces such as Alberta, Saskatchewan and Newfoundland and Labrador will be partly offset by increased activity in British Columbia and Ontario.

In an effort to align itself with the various needs of those seeking information about the housing market, CMHC’s Market Analysis Centre has undertaken a complete review of its products and services. As a part of this review, the CMHC ’s Housing Market Outlook publication will be undergoing a series of modifications. The general objective is to provide a range of possible outcomes that, in a context of economic and financial uncertainty, will better help users in their decision-making process.

As a first step in this ongoing process, the present edition incorporates forecast ranges for housing variables as well as an expanded discussion on the risks to the forecast.

The complete HMO, including national, regional and CMA forecasts, is available here.

In order to access future Market Analysis Centre publications from CMHC, please subscribe to  Housing Observer Online by visiting the following link: https://www.cmhc-schl.gc.ca/observer/

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn  and Facebook.

“Our forecast shows that there are important provincial variations within the Canadian housing market. Increased housing starts in Ontario and B.C. will be more than offset by declines in provinces affected by the drop in oil prices in 2016. Sales will reflect renewed economic growth in 2016 before falling back slightly in 2017.”

— Bob Dugan, Chief Economist, Canada Mortgage and Housing Corporation

DIANE BUCHANAN
 Mortgage Broker

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Bank of Canada Holds Rate at 2.25% — September 2, 2026

By Diane Buchanan • September 2, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. While Canada's economic recovery is broadening, a new layer of uncertainty has entered the picture. Here is what happened and what it means for your mortgage.

Going Through a Divorce? Don’t Let Your Credit Take the Hit

By Diane Buchanan • August 26, 2026
Going Through a Divorce? Don’t Let Your Credit Take the Hit Divorce is stressful enough without adding financial fallout to the mix. Between lawyers, paperwork, and emotional strain, it’s easy to overlook how a separation can impact your credit. But your financial future depends on protecting it now—because long after the dust settles, a damaged credit score can linger. Here are a few smart steps to help keep your credit strong and your finances steady as you move forward. 1. Take Control of Joint Debts When it comes to joint debt, both parties are equally responsible—no matter what your divorce agreement says. If your ex misses a payment on an account with your name attached, your credit takes the hit too. Go through all joint credit cards, loans, and lines of credit. Wherever possible: Close joint accounts to stop future shared use. Transfer balances to the person responsible for repayment. Notify lenders in writing of any changes to account ownership. Once everything is updated, pull your credit report after three to six months to confirm all joint accounts have been closed and reporting correctly. Mistakes happen—stay proactive to prevent surprises later. 2. Open Your Own Bank Accounts Separation means financial independence, and that starts with your own banking. Open a new chequing account in your name only and redirect your pay deposits and bill payments there. At the same time, close any joint bank accounts and change passwords on existing online banking and credit profiles. Even in peaceful separations, shared access can cause confusion—or conflict. Protect yourself by ensuring your money and information are secure. 3. Start Building Credit in Your Name If most of your past credit was tied to your spouse’s name, now’s the time to establish your own. Apply for a small personal credit card or secured credit product . Use it sparingly and pay it off in full each month. This helps you build a solid individual credit history, setting the stage for future goals like buying a home, refinancing, or starting fresh financially. 4. Keep an Eye on Your Credit Monitor your credit report regularly for errors or unexpected changes. You can request free reports from both major credit bureaus in Canada— Equifax and TransUnion —once a year. Tracking your credit isn’t just about catching mistakes; it helps you see your progress as you rebuild your financial independence. Final Thoughts Divorce can be emotionally draining, but protecting your credit doesn’t have to be complicated. By taking a few careful steps now—closing joint accounts, building credit in your name, and monitoring your reports—you’ll safeguard your financial health and gain peace of mind as you start your next chapter. If you’d like personalized guidance on managing credit during or after a divorce, reach out anytime. I’d be happy to walk you through your options.