Ontario Mortgage Rates: May 2024

• Mortgage rates: remained high but relatively stable
• Housing market: stable with modest year-over-year improvement in some areas
• Canada: average price about $699,117
• GTA: 6,560 sales, average price $1,121,615
• Policy: the defining March event was the continued BoC hold at 5.00%
• Alternative lending: likely still relevant at the margin, but no clean March-only Ontario figure verified

Sources - Bank of Canada -- March 6, 2024 decision - CREA March 2024 release title / month-specific market reporting - TRREB market-watch references / March 2024 figures surfaced in search results - Secondary coverage summarizing March 2024 GTA data: - - - Rate references - - -

Caveats - You asked for March 2024 only, so I kept this month-specific. - I could verify the BoC March 6 hold strongly from the primary source. - I relied on month-specific market reporting and search-result evidence for national and GTA figures; I did not directly extract a clean primary Ontario-wide dataset in this run. - I also did not find a single authoritative national “average 5-year fixed / average variable” series for March 2024 only, so the mortgage-rate section remains an approximate market snapshot rather than a precise official average.