01/29/2025
Bank of Canada slashed the key interest rate by 0.25%, bringing the overnight rate down from 3.25% to 3%. Now, why should you care? Let me break it down for you.
The Bank of Canada is actually expecting the market to keep rebounding. And you know what that means? It's time to get moving!
With 2 jumbo rate cuts In Q4 of 2024, we saw transactions skyrocket by 29%. That was just the beginning. Now, with this rate cut, we're looking at even more momentum.
Experts are predicting rates could fall even further, possibly hitting 2 to 2.25% by year-end. We might see up to 75,000 transactions this year against 67,000 transactions last year, which way up from last year.
Prices are still about 20% below their peak. That's a great opportunity to get into the market while the prices are still low!
This window won't stay open forever. As demand picks up, those prices are likely to start climbing. So if you've been on the fence about buying, now is the time to jump in!
Don't let this opportunity slip through your fingers. The market's shifting fast, and today's rate cut is just the beginning. Let's chat about finding your dream home in this exciting market. Your perfect property โ and a smart investment โ is waiting for you!
Give me a call or shoot me a message. Let's make your homeownership dreams a reality in 2025!
