Subsequent week brings a number of key Canadian financial releases that may make clear housing, lending situations, and total financial momentum.

This week’s financial calendar has a number of key housing numbers to observe, together with housing begins and constructing permits. These reviews provide a primary take a look at development traits and may trace at how builders are feeling concerning the market, particularly as greater mortgage charges proceed to weigh on demand.

We’ll additionally get a learn on enterprise lending situations by way of the Financial institution of Canada’s Senior Mortgage Officer Survey, which can shed some mild on how tight or unfastened credit score is true now—a key issue as companies navigate ongoing financial uncertainty.

Right here’s what to regulate:

Thursday, Could 15 – Housing Begins (April, 8:15 a.m. ET)

Housing begins provide an early take a look at new residential development, a vital a part of the housing market and a key indicator of broader financial well being.

In March, the whole worth of residential constructing permits fell 8.3% to $6.5 billion, pushed by sharp declines in Ontario (-13.7%), although a number of provinces, like Quebec (+7.3%) and Saskatchewan (+10.3%), posted beneficial properties.

This pullback means that builders could also be slowing new tasks as greater borrowing prices weigh on affordability. Nonetheless, the longer-term development stays combined, with 260,200 new models licensed over the previous 12 months. (Consensus forecast for April: 235,000 SAAR)

Wednesday, Could 14 – Constructing Permits (March, 8:30 a.m. ET)

Constructing permits are a number one indicator for future development and financial exercise. In February, the whole worth of constructing permits issued in Canada rose 2.9% to $13.1 billion, pushed by a powerful rebound within the non-residential sector. British Columbia led the beneficial properties, with a $657.7 million surge in non-residential permits, thanks largely to main tasks within the Vancouver space. The industrial element added $390 million, whereas institutional permits climbed $248.8 million.

On the residential facet, nevertheless, permits fell 2.9% to $8.4 billion, as declines in multi-family tasks in British Columbia (-$185.5 million) and Quebec (-$131.5 million) offset beneficial properties in Ontario (+$110.2 million). Nationally, the variety of new multi-family dwellings licensed dropped to 21,000 models, down 7.1% from January, whereas single-family houses totalled 4,800 models.

Friday, Could 16 – BoC Senior Mortgage Officer Survey (Q1, 10:30 a.m. ET)

This quarterly survey captures insights into lending situations and mortgage demand within the Canadian monetary system. The This fall survey pointed to tighter lending requirements and cautious credit score demand, reflecting heightened financial uncertainty.

Thursday, Could 15 – Current House Gross sales and MLS House Value Index (April, 9 a.m. ET)

Canada’s resale housing market continued to cool in March, with nationwide residence gross sales falling 4.8% month-over-month, extending a streak of declines that now totals 20% since November 2024. On a non-seasonally adjusted foundation, gross sales had been down 9.3% year-over-year, the bottom March complete since 2009.

Costs have additionally softened, with the Nationwide Composite MLS® House Value Index (HPI) slipping 1% month-over-month and down 2.1% from a 12 months earlier. The nationwide common sale value, in the meantime, fell 3.7% year-over-year to $678,331.

The stock image has shifted as nicely, with the variety of newly listed properties up 3% in March and the nationwide sales-to-new listings ratio dropping to 45.9%—the bottom since February 2009, indicating a extra balanced market.

Week of Could 12, 2025