0 Rate Cuts Before Canada's Spring Real Estate Market

#canadianrealestate #bankofcanada #CanadianMortgageRates

Evidence is mounting that the Bank of Canada will not be cutting interest rates in time for the beginning of Canada’s spring real estate market, even as the media posits that the housing market is beginning to take off.

Links:

Release of the Monetary Policy Report / Publication du Rapport sur la politique monétaire:

https://www.youtube.com/watch?v=s9q0B_MY-U4&t=2s

Fed holds interest rates steady, says cuts not imminent:

https://financialpost.com/news/economy/fed-holds-interest-rate-steady

Top headlines: Bank of Canada to start cutting rates in July, former deputy governor says:

https://financialpost.com/news/live-news-top-business-stories-january-31-2024

Nasma Ali – Twitter:

https://twitter.com/nasmadotali/status/1750471768207241324

85-offer bidding war comes to an end with Mississauga house sold:

https://toronto.ctvnews.ca/85-offer-bidding-war-comes-to-an-end-with-mississauga-house-sold-1.6750305

Real estate perks up in Southern Ontario:

https://www.theglobeandmail.com/real-estate/toronto/article-real-estate-perks-up-in-southern-ontario/

Big mortgages, few listings and fierce competition: Welcome to the spring housing market of 2023:

https://www.theglobeandmail.com/investing/personal-finance/article-canada-housing-mortgage-market-spring-2023/

You Won’t See Rate Cuts Until May At The Earliest. Here’s Why:

https://www.forbes.com/sites/eriksherman/2024/01/31/you-wont-see-rate-cuts-until-may-at-the-earliest-heres-why/?sh=516fb1d87a71

Fed Chief Jerome Powell says a March rate cut is not likely:

https://www.cnbc.com/2024/01/31/fed-chief-jerome-powell-says-a-march-rate-cut-is-not-likely.html

The Federal Reserve Sees Three Rate Cuts In 2024, So Markets Bet On Six; S&P 500 Rallies:

https://www.investors.com/news/economy/federal-reserve-tees-up-three-rate-cuts-for-2024-sp-500/

Federal Funds Effective Rate:

https://fred.stlouisfed.org/series/DFF

Policy interest rate:

https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/

Rate Cuts to Start in July, Former Bank of Canada Official Says:

https://www.bnnbloomberg.ca/rate-cuts-to-start-in-july-former-bank-of-canada-official-says-1.2029044

Bank of Canada Leaves Rates Unchanged, Frets About Core Inflation’s ‘Persistence’:

https://www.wsj.com/economy/central-banking/bank-of-canada-leaves-rates-unchanged-frets-about-core-inflations-persistence-0a42749e

Canada's economy grows more than expected, easing pressure on Bank of Canada to cut rates:

https://ca.finance.yahoo.com/news/canadas-economy-grows-more-expected-150558672.html

Take GDP surprise with 'grain of salt': What latest numbers mean to the Bank of Canada:

https://financialpost.com/news/economy/economy-picks-up-speed-what-that-means-to-bank-of-canada

Bank of Canada’s rate-cut timing uncertain as economic growth beats expectations:

https://www.canadianmortgagetrends.com/2024/01/bank-of-canadas-rate-cut-timing-uncertain-as-economic-growth-beats-expectations/

2023 housing and interest rate forecasts:

https://www.canadianmortgagetrends.com/2022/12/2023-housing-and-interest-rate-forecasts/

Wayback Machine – RBC Mortgage Rates February 6, 2023:

https://web.archive.org/web/20230206183713/https://www.rbcroyalbank.com/mortgages/mortgage-rates.html

Mortgage Rates:

https://www.rbcroyalbank.com/mortgages/mortgage-rates.html

National Statistics:

https://creastats.crea.ca/en-CA/

Bidding Wars and Bully Offers? Toronto Housing Market Showing Surprising Signs of Life:

https://storeys.com/bidding-wars-bully-offers-toronto-housing-market-activity/

Mississauga house sells for just under $1M after 85 offers:

https://www.cp24.com/news/mississauga-house-sells-for-just-under-1m-after-85-offers-1.6750376

Canada 5 Year Government Bond:

https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx

Treasury Yields Fall as Investors Seek Safety. ‘People Are Very Scared Right Now.’:

https://www.barrons.com/articles/treasury-yields-bond-market-svb-stock-d88c2fb6

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