BoC cuts interest rate after 6 consecutive holds

Wednesday Jun 5th, 2024

Share
Keys to unlock

Today the bank of Canada announced the long awaited interest rate cut this morning after 6 consecutive holds. Starting with a very cautious -0.25%, changing the new target to 4.75% , this announces the new shifting in the Real Estate Market , encouraging more buyers that were waiting in the side lines to start their new journey , in the table below you can see the most recent announces from the BoC. Interest Rate announcements Date Target (%) Change... [read more]

Bank of Canada increases Prime rate by 1% --- what does this really mean to the home buyer?

Friday Jul 15th, 2022

Share
Bank of Canada Increases 1% prime rate

Bank of Canada prime rate increases by 1%   On this past July 13th, the bank of Canada announced an increase of the prime rate to a full 1%, which means that the new target is 4.7%. Now the question is, how does this translate to the average consumer and especially to the Real Estate Market?. Let's compare how much would you be monthly paying for a hypothetical amount of  $100,000 mortgage, amortized for a 25-year, not compounded . Borrowing... [read more]

Bank of Canada holds interest rate for 6th consecutive time.

Wednesday Apr 10th, 2024

Share

According to the latest news from the bank of Canada, they will hold the interest rate at five percent for the 6th consecutive time, the central bank says that inflation is still high, but everything is driving to the right direction. While inflation index on January 2024 for Canada was around 3.1% and cooled off a bit for February 2024 to 2.8%, there is still a way to go. "The short answer is we are seeing what we need to see, but we need to see it for longer to be confident that... [read more]

READ MORE

Web4Realty

Real Estate Websites by Web4Realty

https://web4realty.com/

phone email