Understanding the Bank of Canada's Interest Rate Decision
Description
The Bank of Canada (BoC) has lowered its key interest rate by a quarter of a percentage point to 3%. This marks the sixth consecutive cut since June, bringing the benchmark rate down by a total of 200 basis points from its peak of 5% in July 2023.
James and Denny share what they see in today's real estate market and how these rate cuts affect everyday sales.
This episode will focus on the BoC's most recent rate cut, predictions for future cuts, effects on the real estate market, 5-year fixed vs variable rate comparisons, home sales volume increasing, certain housing products will keep struggling, upcoming federal election, new policy changes, and predictions for 2025.
Podcast Videos can be found on the Garbutt + Dumas Real Estate Team YouTube channel
Email us at garbuttdumaspodcast@gmail.com
James Garbutt
james@gdrealestate.ca
Instagram: /jamesgarbutt
Facebook: /jamesgarbutt
Denny Dumas
denny@gdrealestate.ca
Instagram: /denny.dumas
Facebook: /denny.dumas.5
Garbutt + Dumas Real Estate
Instagram: /gdrealestateteam
Facebook: /gdrealestateteam
Website: garbuttdumas.ca
United States
