The Bank of Canada's 4th consecutive interest rate cut by 0.5%! This being the biggest cut we have seen since the pandemic! The overnight rate is now down to 3.75% with another interest rate-cut expected in December!
A fixed rate mortgage used to be over 6%, now you can find one for 3.99%.
Buyers purchasing power has increased by 20% in the last 12 months!
Although this doesn't mean the market is going to explode over night, what it will do is create conversations... These conversations will lead to activity in the market and sales volume will slowly go up into 2025 and we could...