Bank of Canada Holds Rates for the Sixth Time in a Row

The Bank of Canada held its overnight rate at 2.25% on Wednesday, the sixth consecutive hold. Governor Tiff Macklem's statement pivoted to cautious optimism: “Canada's economy is showing signs of improvement. Growth is picking up and inflation is projected to ease gradually from its recent spike.” The Bank sees growth strengthening in the second half of 2026 despite ongoing Middle East risk and trade uncertainty. Prime stays at 4.45%. Next decision: September 2. Analysts now widely regard the aggressive mid-2024 cutting cycle as complete, with the current rate expected to hold through the rest of the year unless the trade picture deteriorates.For BC buyers and sellers, the message is clearer than it has been in a year: stop waiting for cheaper money. Fixed 5-year rates are hovering around 4.29% to 4.59%; variable rates sit near 4.75%. If you rate-locked in June, you locked at a decent moment. If you are shopping now, this is the rate environment. If you are a seller counting on a fall rate cut to bring back a wave of buyers, the Bank just told you not to.

The Villages Plan Went to Its Public Hearing — 170 Speakers, 13,696 Parcels on the Line

Vancouver City Council's Public Hearing on the Villages Plan happened Tuesday, July 14, with 170 registered speakers. The Plan, if adopted, would immediately upzone approximately 13,696 parcels — about 14% of all lots in Vancouver, across 577 city blocks — for four- to six-storey buildings. Council received around 1,000 written comments on the Plan, a majority in opposition. Former Vancouver chief planner Larry Beasley formally opposed it, arguing the density would come without matching public services. Council may still be deliberating; the vote may extend past a single meeting given the volume of input.For roughly 100,000 people who live or work on the affected parcels, the zoning environment is being rewritten this week. Owners in any of the 17 Village areas: if the Plan passes, your detached lot is suddenly worth what a developer would pay for assembled multiplex land. Buyers considering detached homes on the Fraser, Cambie, and Kingsway corridors: pricing math changes overnight if this passes. Whichever way it lands, this is the single most consequential zoning vote for Vancouver homeowners in the last decade.

Sen̓áḵw Signs 100 Leases in Its First Month, Studios Start at $1,735

Squamish Nation's landmark Sen̓áḵw development at the south end of the Burrard Bridge has signed 100 leases since move-ins launched June 1. Studios start at $1,735 per month, one-bedrooms at $2,275, two-bedrooms at $3,505. The initial “premium collection” — including a $12,500 four-bedroom penthouse and $9,070 three-bedroom units — drew significant public backlash after the numbers were released prematurely. The four-bedroom has since been pulled from availability. Sen̓áḵw will eventually deliver approximately 6,000 rental units across 11 towers on Squamish Nation land — one of the largest single rental additions in Vancouver history.The story matters to buyers and sellers, not just renters. Sen̓áḵw is quietly setting a real market floor as new supply completes across the region. For anyone shopping condos in the West End, Yaletown, or Kits and comparing what your monthly ownership costs against what you would pay to rent something equivalent, those rent numbers are the comparison. For sellers of purpose-built rental buildings, the new supply is now visible on the ground. The purpose-built rental era Vancouver has been talking about for a decade just started to actually arrive.