As expected, the Bank of Canada decided to maintain the key interest rate at 5.00%, signaling a pause. The market is now expecting the bank to start cutting interest rates in the spring. After the meeting, bond yields took a further downward trend, indicating that previous rate hikes are finally impacting the incoming. With a slower GDP, and inflation not being at the 2% target, its likely the bond will continue to drop into 2024.
For those eyeing the housing market 🏠, this could be a golden opportunity to benefit from lower house prices before the anticipated lower interest rates drive prices up. If you’re in the market for a new home or have a mortgage renewal coming up, consider locking in a rate now.
ABOUT ME: Erin Price Emery is the Co-Founder and Managing Partner for Blue West Realty. After nearly a decade of experience as an agent and a key part of the management team, Erin carries a wealth of business acumen and industry knowledge, specializing in presales, resales, and assignments. Working in collaboration with developers, partners and clients, Erin has played an integral role in building Blue West Realty from the ground up. She has forged reciprocal connections between the brokerage, the region’s most renowned developers and the downtown Presales Gallery. A natural-born leader, Erin brings patience, fine interpersonal skills and an ethic of care to her management approach, serving her well as a trainer, influencer and client care specialist.
