That’s six straight interest rate cuts in a row, and the timing might be just right for aspiring Canadian home buyers. The Bank of Canada just reduced its policy interest rate by 25 basis points, following two “jumbo” cuts of 50 basis points in December and October. That means the overnight lending rate currently sits at 3%—a far cry from the 5% days Canadians were faced with until June 2024. Why is the timing right for aspiring home buyers? As rates have continued to lower, home sales have been ramping up. Despite a December dip, the fourth quarter of 2024 stood among one of the stronger quarters for home sales over the past 20 years (not including the pandemic). A graph showing home sales compared to months with interest rate cuts.
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| Peter - Seller.pdf | 8.13 MB |