The Bank of Canada has cut interest rates today 4.5%, and this decision has several implications for the real estate market: Lower Borrowing Costs- Cheaper Mortgages: Lower interest rates mean lower mortgage rates, making it cheaper for buyers to finance home purchases. This can increase home affordability and stimulate demand. Increased Buyer Activity- Boost in Demand: With cheaper borrowing costs,...

The Bank of Canada recently announced interest rate cut on Wednesday June 5th, 2024, a decision that has wide-ranging implications for the country's economy, particularly the real estate market. This move comes in response to ongoing economic challenges and aims to stimulate growth by making borrowing more affordable. Here, we break down what this rate cut means for Canadians, especially those involved in...