RateHub reported on 2026-07-15 that residential affordability improved in July in 10 of 13 major Canadian cities. ^[1] US President Donald Trump imposed 50% tariffs on a wide range of Canadian goods as part of a new trade war against the US's second-biggest trading partner. ^[2] The Bank of Canada announced on Wednesday morning that it maintained its benchmark interest rate at 2.25%. ^[3] In Montreal, the annual income required to purchase a property dropped by 1,480 dollars to 128,160 dollars. ^[4] Bank of America economist Carlos Capistran said in a Tuesday note that the BoC is expected to keep rates on hold, citing trade uncertainty and core inflation at the 2% target. ^[5] Goldman Sachs forecast in an Aug. 28 note that Trump's tariffs would create a 0.3 percentage point headwind to Canadian GDP growth and a 0.3 percentage point boost to inflation. ^[6] The Bank of Canada left its benchmark interest rate unchanged at 2.25% for a sixth consecutive decision in July 2025, down from a recent peak of 5%. ^[7]