Bank of Canada Rocca SistersThe Bank of Canada announced (again) on Wednesday a half percentage point interest rate increase!

The key interest rate is now 4.25 per cent – the highest it’s been since January 2008. Since March, the central bank has raised its key interest rate seven consecutive times in an effort to bring inflation down and slow the economy.

Economic data released since its October interest rate decision supports its forecast that growth will stall through the end of the year and into the first half of 2023, the central bank went on to say.

Don’t let this information scar you – inventory remains low and buyers are actively seeking new properties. Proactive sellers are focused on taking advantage of an early Spring market in first quarter while inventory remains low while seasoned  investors are focused on the many, many opportunities out there.

For more insight on what this rate increase means to you or could mean in future investments, please contact us.

Posted by Tanya Rocca on
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