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Canadian Interest Rate Announcement - good news at last

Wednesday, October 25, 2023   /   by Rob Mills

Canadian Interest Rate Announcement - good news at last


Today Canadian home owners finally got some good news from the Bank of Canada. After the latest round of interest rate increase the announcement today was the second month in a row that rates were held.

This announcement said they were optimistic about the core inflation numbers and are happy that they are slowly decreasing, the hope is they will return to the 2% target soon

The last tine we had a pause in rate increases Real Estate activity increased and prices began to rise.  Whilst we don' currently expect a big increase in activity its certainly possible that should rates hold, the market will see more activity in the early Spring should the rates stay as they are.

For more info here is the Global News article about the announcement.

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Whitby, ON L1N 3J9

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