It's a move that many had been expecting for several months, as Canada's inflation rate has remained under three per cent since January."I wouldn't say I'm surprised. There were mixed feelings out there as to whether it was going to happen or not," said Ottawa realtor and leader of the RE/MAX Tulip Team. "I'd say it's good news in the long run. People who have been looking for this relief for a while.
With the expectation that rates will continue to drop in the coming months, Meyer says his team has been busy fielding calls from people looking to get into the market, which will in turn drive up the price of homes. "The rates should stay high and therefore reward people who are actually saving money rather than allow people access to cheap debt, which is what's causing a lot of these problems with housing," he said.
"It would be very surprising to me if rates got back to that basically free money level at any time in the next five to ten years."Kingston, Ont. mother charged with negligence after child found dead inside homeMan accused of exposing himself while panhandling in downtown Kingston, Ont.The Bank of Canada has cut its overnight rate by 25 basis points, a move not seen since the beginning of the pandemic.
A 21-year-old North Bay man has been charged after a 19-year-old was shot and seriously wounded in a school parking lot overnight.In a Traditional Stand-up Election, the Anishinabek Nation Chiefs-in-Assembly has elected Linda Debassige as the Grand Council Chief for the 2024 - 2027 term.The Bank of Canada has cut its overnight rate by 25 basis points, a move not seen since the beginning of the pandemic.
The Calgary Fire Department says a cigarette put out in a balcony planter is believed to be what caused a fire in Royal Oak on Wednesday that prompted the evacuation of the entire condo building.The Bank of Canada has cut its overnight lending rate by 25 basis points, a move not seen since March 2020, and one that real estate experts say could further drive demand for homes in Calgary’s already hot housing market.