Darren Wannop

The Bank of Canada has lowered its key interest rate to 4.75 per cent, marking the bank's first rate cut since March 2020.

Economists were largely expecting the move. Bank governor Tiff Macklem said in published remarks that the bank's monetary policy no longer needs to be as restrictive.

The next Bank of Canada interest rate announcement is on July 24th.

The Bank of Canada (BoC) kept its key overnight rate steady at 5% on Wednesday as expected but dashed the hopes of borrowers seeking relief, saying underlying inflation meant it was too early to consider a cut.

Governor Tiff Macklem said he could not put rate cuts on a calendar and noted that core inflation measures were too high. Overall inflation is 2.9%, still well above the bank's 2% target. Royal LePage Canada is now predicting that rate cuts will not commence until the second half of this year.

Bank of Canada holds overnight interest rate at 5% this morning.

Bank of Canada keeps rates on hold, says too early to consider a cut The Bank of Canada (BoC) kept its key overnight rate steady at 5% on Wednesday as expected and said it was still too early to consider a cut, given the persistence of underlying inflation.

No rate hike from the Bank of Canada this morning. The next rate announcement is set for December 6th.

Holding Strong at 5%: 📈📉 The Bank of Canada announces a second consecutive rate hold, maintaining its key lending rate at 5%, which will bring further stability to the housing market.

Activity may pick up again before the winter, as real estate markets across the country move towards more balanced conditions. The central bank's next announcement is scheduled for December 6th. 🏡💫

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Monthly 🏘️ stats are in for Waterloo ...  Home sales and new listings continue to decline, prices continue to stabilize, and the market continues to move toward more balanced conditions as interest rates continue to rise.   

🖱️ or ⬅️ for the full report 📈.

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Monthly 🏘️ stats are in for Kitchener ...  Home sales and new listings continue to decline, prices continue to stabilize, and the market continues to move toward more balanced conditions as interest rates continue to rise.  

🖱️ or ⬅️ for the full report 📈.

📞 or DM for your neighbourhood.

Monthly 🏘️ stats are in for Cambridge ... Homes sales and new listings continue to decline, prices continue to stabilize, and the market continues to move toward more balanced conditions as interest rates continue to rise.

🖱️ or ⬅️ for the full report 📈.

📞 or DM for your neighbourhood.

Monthly 🏘️ stats are in for Waterloo ... Homes sales decline, prices begin to stabilize, and the market moves toward more balanced conditions.

🖱️ or ⬅️ for the full report 📈.

📞 or DM for your neighbourhood.

Monthly 🏘️ stats are in for Kitchener ... Homes sales decline, prices begin to stabilize, and the market moves toward more balanced conditions.

🖱️ or ⬅️ for the full report 📈.

📞 or DM for your neighbourhood.

Monthly 🏘️ stats are in for Cambridge ... Homes sales decline, prices begin to stabilize, and the market moves toward more balanced conditions.

🖱️ or ⬅️ for the full report 📈.

📞 or DM for your neighbourhood.

Big Tiff at it again with another large (0.75%) increase from the Bank of Canada this morning.

Rate Announcement to come at 10:00 (ET) Automatically view the rate announcement the moment it is published.

Monthly 🏘️ stats are in for Waterloo ... Prices DOWN SLIGHTLY, but relatively flat for the first time after five straight months of decline, with the number of available homes for sale declining from its summer peak.

🖱️ or ⬅️ for the full report  📉.

📞 or DM for your neighbourhood.

Monthly 🏘️ stats are in for Kitchener ... Prices relatively FLAT after 5 consecutive months of decline, with the number of available homes for sale starting to decline from its seasonal peak.

🖱️ or ⬅️ for the full report  📉 .

📞 or DM for your neighbourhood.

Monthly 🏘️ stats are in for Cambridge ... A bit of a mixed bag, but overall prices were UP for the first time in 6 months with the number of available homes for sale declining from its summer peak.

🖱️ or ⬅️ for the full report 📈.

📞 or DM for your neighbourhood.

Interesting results from Royal LePage's recent millennial home ownership survey, in light of the current housing affordability and cost of living crises. In Ontario:

*68% of non-homeowner millennials in Ontario say that home ownership is important to them, and 53% believe they will one day own a home.
*In Toronto, 80% of millennials say if the cost of living was not an issue, they would choose to continue living in their current location.

Click the link for more regional and national survey data.

https://blog.royallepage.ca/six-in-ten-canadian-millennials-who-do-not-own-a-home-believe-they-one-day-will-but-half-say-they-will-have-to-relocate/?

Six in ten Canadian millennials who do not own a home believe they one day will… but half say they will have to relocate The dream of owning a home is one that Canadians of all ages and backgrounds have long held dear. And, younger generations are no…