Is the long-awaited economic recovery finally here? RBC Economics has revised Canada’s Q2 GDP growth forecast upward to 2.2%, signaling a meaningful rebound from two quarters of stagnation. Driven by resilient household spending and a pickup in business investment, the economy is showing renewed life—yet for GTA homeowners and prospective buyers, the news comes with a caveat: don’t expect rate relief anytime soon.
Despite this growth, RBC senior economist Claire Fan notes that the recovery remains fragile, with unemployment figures still high. Consequently, the Bank of Canada is expected to maintain its overnight rate at 2.25% through the remainder of 2026. For those navigating the Greater Toronto Area’s housing market, this stability suggests a “wait-and-see” environment rather than an immediate pivot toward lower borrowing costs. For a deeper dive into these economic shifts and their long-term impact on your mortgage strategy, visit the original article at MPA Magazine.
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