07/24/2024
Well the BoC (Tiff) woke up this morning and decided to throw millions of Canadians a bone...well let's be honest, it wasn't actually a bone, it was more like the whiff of a bone...like the bone was waved over the soup as opposed to infused in the dish....but we will take what we can get and hopefully once the election is over and Tiff manages to get the PC's elected we'll see more reductions!
As many economists predicted, the Bank of Canada decided to decrease the policy rate to 4.5%.
While the quarter point reduction is another step in the right direction, time will tell if it is enough to reignite buyer interest as many have been waiting on the sidelines for the rates to come down.
How will the latest BOC announcement affect your situation? Reach out today to learn more!