Home prices in the GTA rose 3.2% month-over-month, driven by increased buyer activity and limited inventory. Detached homes saw the biggest gains, particularly in suburban areas.
Fixed rates are stabilizing around 5.24% for 5-year terms. Variable rate products remain attractive for buyers expecting future cuts, but come with caution due to market volatility.
Many buyers wait for fall to re-enter the market. This may be a good opportunity to make competitive offers while others are holding back.