MORTGAGE IN CANADA
NEW INTEREST RATES JULY 2024! WHAT TO EXPECT AND WHAT YOU NEED TO KNOW
MORTGAGE IN CANADA - NEW INTEREST RATES JULY 2024! WHAT TO EXPECT AND WHAT YOU NEED TO KNOW
The Bank of Canada lowered the key interest rate to 4.5% today.
If you are planning to buy real estate and are waiting for further rate cuts, now is the time to make purchases.
Due to the reduction in rates, property prices will rise. The Bank expects inflation to gradually decrease and reach 2% next year.
Therefore, the Board of Governors decided to lower the interest rate to help restore price stability. Inflation fell to 2.7% in June.
Housing prices and wage-related services are still high.
If you have any questions, please contact us !
If you are planning to buy real estate and are waiting for further rate cuts, now is the time to make purchases.
Due to the reduction in rates, property prices will rise. The Bank expects inflation to gradually decrease and reach 2% next year.
Therefore, the Board of Governors decided to lower the interest rate to help restore price stability. Inflation fell to 2.7% in June.
Housing prices and wage-related services are still high.
If you have any questions, please contact us !
I hope this post was helpful to you.
You can always contact us if you have any Real Estate questions.
You can always contact us if you have any Real Estate questions.