10/28/2026
🏦 The Bank of Canada has increased its key interest rate by 0.25 percentage points, marking its first rate hike since 2023. The decision reflects concerns that inflation is proving more persistent than anticipated, with price pressures expected to remain elevated into 2027.
🏡 What Does This Mean for Real Estate?
For Buyers: Higher rates may increase borrowing costs for those with variable-rate mortgages or seeking new financing. Buyers should carefully assess affordability, review their mortgage options and understand how rate changes could affect their purchasing power.
For Sellers: Higher borrowing costs may influence buyer budgets and decision-making, potentially adding pressure to pricing and competition. Well-presented properties, strategic pricing and effective marketing will remain important to attracting qualified buyers.
The Bottom Line: With inflation, interest rates and economic uncertainty continuing to shape the market, both buyers and sellers should take a thoughtful, well-informed approach to their next real estate move.
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