12/11/2024
Exciting News for Real Estate!
The Bank of Canada just announced a rate cut, dropping the policy rate by 50 basis points to 3.25%. This means the Prime rate is 5.45%, which directly impacts variable-rate mortgage holders and lines of credit.
What does this mean?
Lower rates often mean more opportunities for buyers and sellers as affordability improves and the market picks up. With this adjustment, 2025 is shaping up to be an exciting year for real estate!
The next Bank of Canada announcement is January 29, 2025, so stay tuned.
Thinking about making a move in 2025? Send me a DM, and let’s get the ball rolling!