Housing Market 2024 Interest Rates Canada. The average selling price of a home in canada was $713,200 for the month of september 2024, that’s decreased by 0.6% compared to the previous month. The impact of interest rate increases is felt throughout the housing market as sales volumes have decreased.

In 2024 and 2025, an estimated 2.2 million mortgages will be facing interest rate shock, representing 45% of all outstanding mortgages in canada. The bank of canada has held rates steady over three rounds of decisions as inflation continued to moderate, but the central bank has said it could still raise rates even as.