Bank of Canada’s rate cut could spur housing demand as Toronto home sales fall in May
Real estate market analysts say the Bank of Canada’s much anticipated decision to lower its key interest rate could be the sign that many would-be homebuyers have been waiting for to make their move.
The central bank announced the quarter-percentage-point cut on Wednesday, its first in more than four years, meaning its key interest rate now stands at 4.75 per cent.
It comes after some of Canada’s largest cities have seen ballooning home listings in recent months from droves of sellers listing their properties, despite demand from potential buyers not keeping up.
Categories
Recent Posts
The Liberals are betting prefab homes will help boost supply. But who will want to live in them?
St. Clair West semi beats asking price by $85,100
Scarborough bungalow touts mid-$800,000s price, attracts two offers
Bank of Canada rate decision offers little relief to homeowners facing mortgage renewals
New Calgary towers near Stampede grounds to offer hotel comforts with the benefits of ownership
Second agents relist aging Annex house with fewer photos, more global promo to get bids
Testy sellers, cautious buyers as real estate market adjusts to global trade uncertainty
Toronto's 'renoviction' bylaw takes effect Thursday. Here's what you need to know
Modular-home builder facing receivership says: ‘I haven’t given up this vision’
A wild oasis tucked away in suburban Burlington
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "