NEWS UPDATE
Today's Bank of Canada 50 base points drop came as no surprise.
The effect is causing some mixed reactions from industry experts:
Today’s 50 bp cut alone is unlikely to boost economic growth, writes writes TD senior economist James Orlando. More cuts should very much be expected, Orlando says. “...rates are still way too high given the state of the economy,” he writes.
An opposite reaction comes from Ratesdotca and real estate expert, Victor Tran:
“It’s likely that we will now see an uptick in pre-approvals as buyers prepare to move quickly once they sense the tide is turning,” RATESDOTCA mortgage and real estate expert Victor Tran stated. "We may see this psychological shift in the coming weeks . . . once the market begins to move, it’s likely to heat up quickly, pushing home prices higher. This may lead to an unseasonably busy winter season, and a busy spring season in 2025,” he added.
Keep updated with relevant, pertinent market and real estate information.
source: https://ca.yahoo.com/finance/news/live/bank-of-canada-expected-to-deliver-jumbo-interest-rate-cut-this-morning-110116965.html
... “This positive trend reflects a shift toward more balanced conditions within our housing market and a renewed confidence among buyers.”Moura commented, “The interest rate cuts are certainly beneficial for those with variable mor
NEWS UPDATE Today's Bank of Canada 50 base points drop came as no surprise.The effect is causing some mixed reactions from industry experts:Today’s 50 bp cut alone is unlikely to boost economic growth, writes writes TD senior economist James Or
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... “This positive trend reflects a shift toward more balanced conditions within our housing market and a renewed confidence among buyers.”Moura commented, “The interest rate cuts are certainly beneficial for those with variable mor
NEWS UPDATE Today's Bank of Canada 50 base points drop came as no surprise.The effect is causing some mixed reactions from industry experts:Today’s 50 bp cut alone is unlikely to boost economic growth, writes writes TD senior economist James Or