Canada Mortgage and Housing Corporation is predicting home prices and sales will fall from last year's levels by December.
But the federal housing agency says the declines won't blunt much of the market's heat.
Chief economist Bob Duggan says home ownership will be less affordable in the near-term because of higher mortgage rates and high price levels.
He also expects rental affordability will likely decline as well.
Police have not answered questions about the two men's account of events and released few details about the “potential threat” that prompted an evacuation of Parliament and closure of surrounding streets for several hours on Saturday.
The changes are expected to come into effect on July 1, after being pushed back four times during the pandemic. The PBO says in a newly released report that if the changes had been in place in 2018, Canada would have spent 19 per cent less, representing about $2.8 billion.
Police say in a statement they were called Monday to a report of a homicide at a local marina with hostages being involved. When officers arrived, they learned the male suspect was alone and attempts were made to negotiate with the man, who police say had a weapon.
Grewal, 36, is facing two charges of breach of trust, related to loans he sought from friends, family and other associates to help pay for a gambling habit that racked up millions of dollars in debt.
The federal government says 72 per cent of Canadians who apply for a passport in any manner will get it within 40 business days, while 96 per cent of people who submit their application in person will get their passport within 10 business days.
Officers from departments in Victoria, Vancouver, New Westminster, Delta, Surrey, Saanich, Victoria and the Metro Vancouver Transit Police are being investigated, the statement said.