The Bank of Canada has announced it’s final reduction in its policy interest rate this year, cutting it by 50 basis points! Getting closer to the 2% target.
Here’s a breakdown of the rationale behind this decision and its potential impacts:
What does this mean?
- Lower interest rates are starting to stimulate housing activity, signalling a busy Spring market ahead!!
- Lower interest rates are good news for variable-rate mortgage holders and those considering refinancing or new financing options.
The next rate decision is January 29, 2025!
Lisa Nicole
Taking You From One Stage To The Next
📲 778-554-9289
📧 lisa.nicole@century21.ca