Bank of Canada Cuts Rates: What This Means for Ontario’s Housing Market
Posted by Tanya Rocca on
Bank of Canada Cuts Rates: What This Means for Ontario’s Housing Market
The Bank of Canada announced today that it is lowering its key interest rate by 25 basis points, bringing the policy rate down to 2.50%, the lowest level in three years. For Ontarians, this decision is more than just a number. It directly affects affordability, confidence, and activity in the housing market.
What This Means for Buyers
For buyers, lower interest rates often translate into reduced borrowing costs. Variable mortgage holders could see their payments ease, while those shopping for new fixed-rate mortgages may find slightly more competitive options in the months ahead. This improves purchasing power, particularly for first-time buyers who have…
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