06/05/2024
Today, the Bank of Canada lowered its benchmark interest rate to 4.75% by 25 basis points—a level not seen since the start of the pandemic!
After the largest shock to interest rates and inflation in decades, this is a turning moment for the Canadian economy.
If you are currently pre-approved, this could mean a change in your affordability as well.
On July 24, 2024, mark your calendars for the next statement from the Bank of Canada! 🎓
Personal Opinion: I think it's a great time to buy, especially IF we see the interest is lowered again in July before your new home closing date.
Start shopping now before the market heats up and becomes more competitive.
What do you think about this?