NEWSNEWSNEWS December 11, 2024

Bank of Canada reduces policy rate by 50 basis points to 3.25%

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