It's been one of the most action-packed weeks for Canadian housing policy in years. But before we unwrap that, let's talk about what's expected to be a volatile week for rates—following Iran's attack on Israel.

As MLN hinted last Thursday, insured 30-year amortizations are coming back from the dead after a 12-year absence—with a few strings attached. Finance Minister Chrystia Freeland made the announcement today and the change takes effect August 1. Insured extended amortizations will be available to first-time buyers purchasing new construction

The BoC left its target rate anchored at 5% this morning, but hold the phone—it just got upstaged — by U.S. inflation. America's reaccelerating CPI data stole the show this morning, sending bond traders into a bearish frenzy. The BoC left the beacon on for 2024 rate