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๐Ÿ“Š Bank of Canada Rate Update โ€“ April 29, 2026

As of April 29, 2026: The Bank of Canada held its overnight rate steady at 2.25%, marking the fourth consecutive hold since October. While the decision itself was widely expected, the underlying story has started to shift.

Since the last announcement, inflation has moved higher, rising to 2.4% in March from 1.8% in February. Much of that increase has been tied to global energy prices, while core inflation measures have remained more stable. At the same time, economic growth continues to come in on the softer side, with forecasts around 1.2% for 2026, and the labour market showing signs of easing.

  • ๐Ÿ“ˆ Inflation: 2.4% (up from 1.8%)
  • ๐ŸŒ Driver: Global energy prices
  • ๐Ÿ“Š Growth outlook: ~1.2% for 2026
  • ๐Ÿ‘ท Labour market: Gradually softening
  • ๐Ÿฆ Policy stance: Holding steady at 2.25%

The Bank has indicated it plans to look through this short-term, energy-driven spike in inflation rather than react immediately, which helps explain the continued pause in rate changes.

For buyers, sellers, and homeowners across Waterloo Region, this means borrowing conditions remain stable for now. Variable-rate mortgage holders will not see changes, and overall market conditions continue to feel balanced, though still cautious.

  • ๐Ÿ  Buyers: Active, but highly price-sensitive
  • ๐Ÿ“‰ Sellers: Pricing and presentation matter more than ever
  • โš–๏ธ Market tone: Stable, with a cautious outlook

The bigger theme right now is uncertainty. With inflation ticking higher and global tensions influencing energy prices, the Bankโ€™s next move could realistically go in either direction. This creates a true wait-and-see period in the market.

Next rate decision: June 10, 2026

If your mortgage is coming up for renewal in the next 6 to 12 months, this is an important window to start thinking through your options. Decisions around fixed versus variable rates can have a meaningful impact depending on how the next few announcements unfold.

If you would like a clear breakdown of how todayโ€™s rate environment applies to your situation in Kitchener, Waterloo, or Cambridge, Melanie and I are always happy to walk through it with you.

https://www.bankofcanada.ca/
https://teammcneil.com/bank-of-canada.html

Waterloo Region
Melanie & Warren McNeil, REALTORSยฎ
Peak Realty Ltd., Brokerage
hello@teammcneil.com
519-590-3767 ~ 519-498-8118

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Open House. Open House on Sunday, May 3, 2026 2:00PM - 4:00PM

Please visit our Open House at B 235 Cedarbrae Avenue in Waterloo. See details here

Open House on Sunday, May 3, 2026 2:00PM - 4:00PM

Bungalow semi with finished basement close to both Universities, schools and parks. Main floor features, newer flooring, updated windows, modern kitchen, large living and dining room, updated main bath and 3 bedrooms. A side entrance leads to the lower level with 3 bedrooms, family room, 3pc bath and kitchen as well as the laundry room and cold room. Located in Waterloo, steps to schools, trails, parks and transit. Parking for 3 cars and a fenced backyard. Perfect starter home, for downsizing or mortgage helper.

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Melanie & Warren McNeil  ยท  Peak Realty Ltd.
Waterloo Region Real Estate: March 2026 Market Update
Average residential sale prices continue a period of correction across all major housing categories, while sales volume and new listings show strong spring momentum month-over-month.
Core Market Indicators
Avg. Residential Sale Price
$733,258
โ–ผ 4.4% year over year
All residential property types
Avg. Days on Market
30
โ–ฒ 11.1% year over year
Homes taking a little longer than last year
New Residential Listings
1,082
โ–ผ 11.2% year over year
โ–ฒ 44.8% vs February  ยท  spring pickup
MLS Sales
492
โ–ฒ 5.4% year over year
โ–ฒ 39.4% vs February  ยท  strong buyer activity
Months of Supply  ยท  All Types
2.9
โ–ผ 6.5% year over year
Balanced market
Market Context
Sales up strongly month-over-month as spring market gains traction. Prices still correcting year-over-year across all property types, with condos seeing the sharpest decline. Inventory remains relatively constrained.
Property Type Performance
Single-Detached
311
units sold
$858,919
โ–ผ 6.7% YOY
2.1 months supply  ยท  โ–ผ 4.5%
Semi-Detached
36
units sold
$649,764
โ–ผ 2.0% YOY
1.0 months supply  ยท  โ–ผ 37.5%
Townhome
79
units sold
$569,213
โ–ผ 7.6% YOY
3.5 months supply  ยท  โ–ผ 14.6%
Condo
66
units sold
$383,029
โ–ผ 17.2% YOY
7.2 months supply  ยท  โ–ฒ 4.3%
Unit Volume and Price Shifts
Property Type Units Sold Avg. Sale Price Price Change Months Supply
Single-Detached 311 $858,919 -6.7% 2.1
Semi-Detached 36 $649,764 -2.0% 1.0
Townhome 79 $569,213 -7.6% 3.5
Condo 66 $383,029 -17.2% 7.2
Melanie & Warren McNeil, REALTORSยฎ  ยท  Peak Realty Ltd., Brokerage  ยท  519-590-3767  ยท  teammcneil.com
Source: Cornerstone Association of REALTORSยฎ  ยท  as of April 6, 2026

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Open House. Open House on Saturday, April 18, 2026 2:00PM - 4:00PM

Please visit our Open House at 120 Lorraine Avenue in Kitchener. See details here

Open House on Saturday, April 18, 2026 2:00PM - 4:00PM

Beautiful bungalow with ensuite and attached garage! This well-maintained 3 bed, 3 bath home offers a bright, open-concept layout with hardwood floors and a functional kitchen with backsplash, corian countertops and appliances included which flows seamlessly into the sun-filled dining and living areas. A generous primary suite with a luxurious ensuite boasting heated floors, a walk-in shower, and double sinks. A second bedroom with a built-in Murphy bed (included), a 4-piece bath, and convenient main floor laundry complete the main level. The finished lower level adds great additional living space with a games room (pool table included), a cozy rec room with built-in gas fireplace, a third bedroom, and a full bathroom as well as storage and utility rooms. Step outside and enjoy a private backyard with patio, plus an attached garage with workshop space. Additional highlights include a steel roof, no rented equipment, and a fantastic location close to all amenities in a desirable neighbourhood. A move-in ready home you wonโ€™t want to miss.

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New property listed in 421 - Lakeshore/Parkdale, 4 - Waterloo West

We have listed a new property at B 235 Cedarbrae Avenue in Waterloo. See details here

Bungalow semi with finished basement close to both Universities, schools and parks. Main floor features, newer flooring, updated windows, modern kitchen, large living and dining room, updated main bath and 3 bedrooms. A side entrance leads to the lower level with 3 bedrooms, family room, 3pc bath and kitchen as well as the laundry room and cold room. Located in Waterloo, steps to schools, trails, parks and transit. Parking for 3 cars and a fenced backyard. Perfect starter home, for downsizing or mortgage helper.

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Open House. Open House on Sunday, April 19, 2026 2:00PM - 4:00PM

Please visit our Open House at B 235 Cedarbrae Avenue in Waterloo. See details here

Open House on Sunday, April 19, 2026 2:00PM - 4:00PM

Bungalow semi with finished basement close to both Universities, schools and parks. Main floor features, newer flooring, updated windows, modern kitchen, large living and dining room, updated main bath and 3 bedrooms. A side entrance leads to the lower level with 3 bedrooms, family room, 3pc bath and kitchen as well as the laundry room and cold room. Located in Waterloo, steps to schools, trails, parks and transit. Parking for 3 cars and a fenced backyard. Perfect starter home, for downsizing or mortgage helper.

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New property listed in 224 - Heritage Park/Rosemount, 2 - Kitchener East

We have listed a new property at 120 Lorraine Avenue in Kitchener. See details here

Beautiful bungalow with ensuite and attached garage! This well-maintained 3 bed, 3 bath home offers a bright, open-concept layout with hardwood floors and a functional kitchen with backsplash, corian countertops and appliances included which flows seamlessly into the sun-filled dining and living areas. A generous primary suite with a luxurious ensuite boasting heated floors, a walk-in shower, and double sinks. A second bedroom with a built-in Murphy bed (included), a 4-piece bath, and convenient main floor laundry complete the main level. The finished lower level adds great additional living space with a games room (pool table included), a cozy rec room with built-in gas fireplace, a third bedroom, and a full bathroom as well as storage and utility rooms. Step outside and enjoy a private backyard with patio, plus an attached garage with workshop space. Additional highlights include a steel roof, no rented equipment, and a fantastic location close to all amenities in a desirable neighbourhood. A move-in ready home you wonโ€™t want to miss.

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๐Ÿ“Š Waterloo Region Real Estate Update โ€“ March 2026

As of April 6, 2026: March showed a clear shift into spring market momentum across Waterloo Region. Both sales and new listings increased significantly compared to February, while pricing remained relatively stable overall. Hereโ€™s a quick look at what stood out this month:

  • ๐Ÿ  492 homes sold
  • ๐Ÿ“‹ 1,082 new listings came to market
  • ๐Ÿ’ฐ Average price: $733,258 (down 4.4% year over year)
  • โฑ๏ธ Average days on market: 30

Single-family homes saw 311 sales in March, with an average price of $858,919, down 6.7% compared to last year. Months of supply sits at 2.1 months, which continues to reflect relatively tight conditions in the detached segment despite the increase in overall activity.

Looking at other property types, 36 semi-detached homes sold with an average price of $649,764. Condominiums recorded 66 sales with an average price of $383,029, while 79 townhomes sold at an average price of $569,213. Buyers in these segments are seeing more choice, although conditions can vary depending on the property type and location.

Overall, the Waterloo Region housing market is gaining momentum heading into the spring season. With both listings and sales rising month-over-month and inventory levels remaining relatively balanced, we are seeing a more active but still stable market environment.

If you would like a deeper breakdown by Kitchener, Waterloo, Cambridge, or by your specific property type, Melanie and I are always happy to walk through the numbers with you and help you understand what they mean for your next move.

https://cornerstone.inc/waterloo-region-housing-stats/

Waterloo Region
Melanie & Warren McNeil, REALTORSยฎ
Peak Realty Ltd., Brokerage
hello@teammcneil.com
519-590-3767 ~ 519-498-8118

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New property listed in Saugeen Shores, 4 - Saugeen Shores

We have listed a new property at 171 Gosford Street in Southampton. See details here

Stunning custom-designed and built white pine log home in the heart of Southampton. This one of a kind residence combines natural charm with modern comfort, centrally located close to schools, shopping, golf, and the beach and just minutes from Lake Huronโ€™s world-famous sunsets. The property also features an impressive 930 sq. ft. detached garage, perfect for a workshop, RV (with RV outlet), classic car storage, or a home-based business. Step inside this well maintained, carpet free home and enjoy the warmth of a two-sided gas fireplace shared between the chalet-style living room with soaring ceilings and the main-floor primary bedroom, which features a walk-in closet, ensuite privilege with jacuzzi tub, and laundry area. The kitchen offers ample cabinetry, an island with breakfast bar, and a seamless flow to the dining area with walkout to a covered porch and natural gas BBQ hookup. The upper loft, which could be a 3rd bedroom provides spectacular sunset views and star gazing, another bedroom and full bathroom complete the upper level and offer privacy for family or guests. The partially finished basement features drywall, a cold room, and a rough-in for a bathroom, ready for your finishing touches. Neutral interior paint (2021), exterior wood painted (2022), foundation painted (2024). In addition to the amazing detached garage, enjoy a large, partly fenced backyard with raised garden beds, landscaping with pond, sandy area, firepit, garden shed, and ample parking. Whether you enjoy hiking, biking, swimming, boating, fishing, golfing, skiing, or gardening, this home places you at the centre of it all. A rare opportunity to own a truly unique property in one of Ontarioโ€™s most desirable communities.

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New property listed in 550 - Elmira, 5 - Woolwich and Wellesley Township

We have listed a new property at 176 Snyder Avenue N in Elmira. See details here

Move-in ready and beautifully finished, this 3 bedroom, 3 bathroom Claysam Homes property is located in great Elmira neighbourhood, walking distance to Riverside Public School and scenic trails. Step inside to a welcoming foyer featuring a warm accent wall and plenty of space for guests and storage. The bright open-concept kitchen and living area overlook the private fenced backyard, creating a perfect space for everyday living and entertaining. The kitchen features quartz countertops, stainless steel appliances, modern backsplash, ample cabinetry and a spacious island ideal for meal prep and casual dining. The adjoining living room offers a stylish feature wall, sleek electric fireplace and custom live-edge built-in shelves, creating a warm and contemporary gathering space. Large windows and an oversized patio door lead to the private, fenced backyard featuring a gorgeous stamped concrete patio, perfect for outdoor dining or relaxing on summer evenings, and a newer shed. Main floor laundry and a 2pc powder room complete the main floor. Upstairs, a versatile family room provides excellent flex space for busy families. The upper level also includes two additional good sized bedrooms and a spacious primary suite with walk-in closet and 4-piece ensuite. The 4 pc. main bathroom completes this level. The unspoiled basement offers excellent storage and the opportunity to create additional living space tailored to your needs. A double garage and double driveway provided ample parking. Easy access to all Elmira has to offer, shopping, schools, rec centre, parks, splash pad and trails. A wonderful opportunity to own a modern family home in a fantastic community.

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