Meanwhile, global automated electronic broker launches FHSA
Canadians wanting to buy their own home will be hoping whichever party forms the next federal government will introduce policies to help them. But while Canada votes, housing affordability has shown some improvement.
Recent stats from the Canadian Real Estate Association reveals that its MLS Home Price Index as 1% month-over-month in March - the largest month-over-month decrease since November 2023 - and was down 2.1% on a year-over-year basis.
Sales were down 20% from their recent high recorded last November.
“Up until this point, declining home sales have mostly been about tariff uncertainty. Going forward, the Canadian housing space will also have to contend with the actual economic fallout. In short order we’ve gone from a slam dunk rebound year to treading water at best,” said Shaun Cathcart, CREA’s Senior Economist.
The Teranet-National Bank Composite House Price Index, which covers the country’s eleven largest CMAs, decreased by 0.4% from February to March, marking the third consecutive monthly decline.
“In a context of ongoing economic uncertainty, moderate population growth and the risk that long-term interest rates will remain higher for longer than expected, home prices are likely to remain under pressure in the coming months,” said the Teranet-National Bank statement.
With mortgage rates also easing, affordability improved in 10 out of 13 major cities according to Ratehub.ca’s March 2025 Home Affordability Report.
However, with affordability still a barrier to homeownership for many, global automated electronic broker Interactive Brokers Canada has joined the list of those offering a First Home Savings Account.
“Buying a home is one of the biggest financial milestones, and we’re pleased to offer a savings solution that helps Canadians reach this goal,” said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. “Our FHSA provides tax-free investment growth, low costs, and access to global markets, empowering Canadians to maximize their savings potential.”
