After eight consecutive increases, the Bank of Canada announced it is keeping its trend-setting policy interest rate at 4.5% this morning.
The Bank of Canada’s decision to hold rates steady can also give homebuyers more confidence in the housing market. When interest rates are low, it can make it easier for buyers to afford their mortgage payments, which can, in turn, support the housing market and help boost housing prices over time.
That said, it’s important to note that factors beyond interest rates, such as local market conditions, economic indicators, and government policies, can impact the housing market. As a realtor, I’m here to help guide you through the process and provide you with up-to-date information on the latest trends and developments in the housing market.
Interested in learning more about the housing market’s current state, or if you’re ready to start the homebuying process, please don’t hesitate to contact me. I’m here to support you every step of the way.
Thank you for your continued business and trust in me as your realtor.