Canada’s central bank has slashed interest rates four consecutive times, including last week’s oversized half-a-percentage-point cut, and signalled that it’s prepared to cut again. Lower borrowing costs are good news for aspiring homeowners, so why are so many still on the sidelines?
If the inquiries fielded by Ratehub’s mortgage brokers are any indication, would-be homebuyers are worried about timing. Interest rates are widely expected to keep falling, with the Bank of Canada’s benchmark rate seen by markets as dropping to near 2.5 per cent by the end of next year. But with lower interest rates comes the spectre of rising home prices.
After a sluggish 2024, home sales and
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