Market Update April: Bank of Canada’s Rate Pause and the Current State of Single-Family Homes
The Bank of Canada announced another rate pause and held its policy rate at 4.5% and prime rate at 6.70%. Since the last hold, the Vancouver real estate market has seen an uptick in activity with buyers hoping the BoC is done with rate increases.
James and Denny share what they are seeing in today’s current market and go over what the rate pause will mean for real estate.
This episode will focus on the Bank of Canada’s rate hold, single-family home prices in North Van, West Van, Port Moody, Burnaby, New West, the uptick in market activity, seeing multiple offers in all cities and future potential zoning changes.