The Bank of Canada (BoC) has lowered its key interest rate by a quarter of a percentage point to 3%. This marks the sixth consecutive cut since June, bringing the benchmark rate down by a total of 200 basis points from its peak of 5% in July 2023.
James and Denny share what they see in today’s real estate market and how these rate cuts affect everyday sales.
This episode will focus on the BoC’s most recent interest rate cut, predictions for future cuts, effects on the real estate market, 5-year fixed vs variable rate comparisons, home sales volume increasing, certain housing products will keep struggling, upcoming federal election, new policy changes, and predictions for 2025.
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