This week’s economic calendar: Housing data, Bank of Canada speech and more

Canada’s Thanksgiving-shortened week still includes several key developments in the housing market and interest rate outlook.

Builders, buyers and policymakers will all be in the spotlight with a series of data releases and central bank appearances that could help shape expectations for the Bank of Canada’s next interest rate decision on Oct. 29.

Scotiabank economist Derek Holt noted that the latest housing data will test whether a slowdown in construction in August was the start of a weakening trend. “After four straight months of numbers approaching 300,000, housing starts in September will indicate whether August’s fall back to a still respectable seasonally adjusted annualized rate of 246,000 is the start of a new trend,” Holt wrote.

Existing home sales “have been rising for four straight months,” he added, making this week’s update a key data point in gauging the health of the resale market in the wake of lower interest rates.

Meanwhile, Gov. Steve McCollum and Senior Lt. Gov. Carolyn Rogers will both give speeches and provide policy insights. Holt expects McCollum to “take the fight directly to Washington” when he appears Thursday at the Peterson Institute for International Economics, likely to discuss trade tensions, tariffs and Canada’s financial stability prospects.

Here are some things to note:

Tuesday 14th October – Building Permits and Caroline Rogers Speech

Statistics Canada’s August building permits report will provide the first look at where developers are positioning themselves for the coming months. July fell slightly, 0.1%, as multi-unit projects continued to dominate as affordability challenges drove buyers away from single-family homes. Another reading of weakness suggests caution remains despite some easing in mortgage rates.

Later in the day, Senior Lieutenant-Governor Carolyn Rogers spoke on productivity and competition at the BC Business Summit.

Wednesday, October 15th – Existing Home Sales

Wednesday brought one of the most talked about housing updates of the week. CREA existing home sales data for September will be released in the morning, providing information on how buyers and sellers are responding to lower borrowing costs. Sales have risen for four months in a row, and this update will show whether that momentum continues as listings increase and prices stabilize across much of the country.

Thursday, October 16 – Housing Starts and Governor McCollum

Focus will be on Thursday’s housing starts data from CMHC, which will show whether August’s fall back to 246,000 annualized units marked the beginning of a slower construction phase, or just a pause.

Later that afternoon, Governor Steve McCollum spoke at the Peterson Institute for International Economics in Washington, DC. His comments on Canada’s trade conditions, inflation progress and currency outlook could influence market pricing in the central bank’s next decision.

Friday, October 17 – U.S. Housing Indicators

South of the border, the U.S. is set to release September housing starts data and building permits, providing a broader look at North American construction trends. Construction starts are expected to rise slightly to around 1.32 million units, while the number of permits is expected to remain stable at around 1.35 million units.

Week of October 13, 2025