Statistics Canada just confirmed two consecutive quarters of negative annualized GDP. But half the country's economists say it doesn't count, the Prime Minister calls it "settling in," and the Bank of Canada is signaling the next move might be a hike, not a cut. We break down what the print actually said, why gold imports and frozen housing turnover are doing most of the damage, and what every Canadian real estate investor needs to do before the June 10th BoC decision.
Inside: the three lenses on whether this is a "real" recession, why fixed mortgage rates have a floor (not a ceiling), and the five things you should NOT do in this market.

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Exchange-Traded Funds (ETFs) | BMO Global Asset Management

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Ontario just hit a two-year high for publicly visible power-of-sale listings, and CMHC's Spring 2026 report confirms what the headlines miss: national mortgage delinquencies are still calm at 0.24%, but Toronto is up 45% year over year, Ontario is up 35%, and mortgage investment entities are running at 1.96%. This isn't a U.S.-style foreclosure crisis, it's stress becoming visible unevenly, by lender type, property type, city, and capital structure.

Dan and Nick break down the renewal cliff that turned into a slow grind, why banks quietly hiked loan-loss allowances 25–51%, how policy shifted first-time buyers into insured, longer-amortization debt, and why a distressed seller doesn't always mean a distressed price. If you want to track the data yourself, realist.ca has a Canada-wide power-of-sale tool, and Valery.ca has the deeper GTA view.

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Nick sits down with Josh Findlay, co-founder of BLD Financial, for a tactical deep-dive on financing Canadian real estate deals in today's market. They break down CMHC MLI Select (how the points work, why 95% isn't always 95%), compare CMHC construction financing vs. private-then-takeout strategies, and explore where bridge debt fits in. Josh explains why Edmonton remains one of the strongest MLI Select markets, the realities of underwriting in an elevated bond environment, and why young investors are racing to acquire assets. Practical advice for anyone scaling from small multifamily into mid-market development.

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Exchange-Traded Funds (ETFs) | BMO Global Asset Management

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