Steven Tulman’s Post

Governor of the Bank of Canada Tiff Macklem hinted that sustained demand might cause house prices to level out or perhaps increase. Mortgage rates remain high despite the fact that borrowing costs are beginning to decline; the average fixed-rate loan is 4.5%. Although the real estate market is still navigating these conflicting signals, analysts predict that things will eventually get better for both tenants and buyers as rates begin to decline. Read more below. https://lnkd.in/g6Xg2BFA

Governor of the Bank of Canada Tiff Macklem hinted that sustained demand might cause house prices to level out or perhaps increase. Mortgage rates remain high despite the fact that borrowing costs are beginning to decline; the average fixed-rate loan is 4.5%. Although the real estate market is still navigating these conflicting signals, analysts predict that things will eventually get better for both tenants and buyers as rates begin to decline. Read more below. https://lnkd.in/gCY9TDEX

In a decisive move, the Bank of Canada recently reduced its interest rate by 50 basis points to 3.75%, aiming to rejuvenate the sluggish Canadian housing market. This rate cut primarily affects variable mortgage rates, which are expected to drop by approximately 25 basis points within the next day. However, with variable rates at major banks remaining above 6%, borrowers face stringent stress tests at an 8% threshold, potentially limiting approved loan amounts. On the residential front, this reduction should energize the market, particularly benefiting homeowners with variable-rate mortgages. As borrowing costs dip, we may see a surge in buyer demand, driving up home prices as more prospective buyers are incentivized to enter the market. In regions like Edmonton, realtors are already predicting an increase in buyer activity and rising selling prices, signaling a potentially vibrant market resurgence. Conversely, the commercial real estate sector might not experience an immediate boost from this rate cut. Experts like Peter Norman from Altus Group Ltd. suggest that more substantial rate reductions

The Bank of Canada just lowered its key interest rate to 4.75%, the first cut since 2020, after maintaining it at 5% since last July. Governor Tiff Macklem stated that the decision reflects easing inflation, which slowed to 2.7% in April and is expected to continue down to the 2% target. Impact on Homeowners: · Prime rates drop from 7.2% to 6.95%, affecting variable-rate mortgages. · Variable mortgage rates, now around 6%, will reduce monthly payments. For instance, a $900,000 mortgage at 6.25% drops by about $110/month at 6%. · Fixed rates remain higher, so refinancing might not be ideal yet. Stay tuned for the next rate announcement on July 24. Please reach out to me for more on this subject; Teriza Botros Real Estate Services Royal LePage Real Estate Services Ltd. (416)919-0464 teriza@royallepage.ca www.terizabotros.com #interestrates #bankofcanada #mortgages #ontariorealestate #oakvilleontario #buyhomes #homeselling #homebuying #sell #OAKVILLErealestate #terizabotros #realtor #oakvillehouseforsale #OakvilleListings #royallepage

📉 Bank of Canada Cuts Rates Again! 📉 Big news today as the Bank of Canada announced a 25-basis-point rate cut, bringing the key rate down to 4.25%. This marks the third consecutive cut since June 2024! So, what does this mean for real estate? 🏡 Lower borrowing costs might be good news for buyers who’ve been waiting on the sidelines, but don’t expect immediate market shifts just yet. Mortgage rates are still catching up. If you have a variable rate mortgage, you might see some relief, but it could take more cuts to truly boost market activity. On the bright side, home prices have stabilized, making it a great time for first-time buyers to step in before demand picks up again! 🚀 Have any questions about how this impacts your real estate plans? Let’s chat! 💬 #BankOfCanada #RealEstateUpdate #InterestRates #HomeBuying #RealEstateInvesting #MarketTrends

Today, the Bank of Canada has reduced the overnight rate to 4.75%, marking the first of what's expected to be several rate cuts this year. This decision reflects a move towards more accommodating monetary policies as inflation stabilizes within the target range. 🏡📉 What does this mean for you? For homeowners with variable-rate mortgages or lines of credit, this cut could translate into slightly lower monthly payments. If you're looking to enter the market, the environment might be becoming more favorable, especially with the potential for further rate reductions on the horizon. While a single rate cut might not transform the landscape overnight, it does set a positive tone for the year and could be a significant factor for anyone thinking about buying or selling. The real estate market is often quick to respond to such changes, making this an opportune moment to reassess your plans considering the likelihood of lower rates ahead. As always, any financial decision should be made with careful consideration of your personal financial situation and the potential for future rate changes. Interested in exploring how this could impact your plans? Let’s discuss your options! 587-713-4022 info@flaremortgagegroup.com Flare Mortgage Group www.flaremortgagegroup.com Mortgage | BOC | Bank Of Canada | Flare Mortgage Group | Happiness Creator | Prime Rate | Home | Money | Financials | Edmrealestate | YEG | Edmonton

🚨 BREAKING: Bank of Canada Lowers Interest Rates to 3% – What Does This Mean for Buyers & Sellers? 🚨 The Bank of Canada has officially cut its policy rate by 25 basis points, bringing it down to 3%. Here’s how it impacts the real estate market: 🏡 For Buyers: Lower interest rates mean lower mortgage payments and increased affordability. This could be a great opportunity to lock in a better rate before competition heats up. 🏡 For Sellers: With borrowing becoming more accessible, more buyers may enter the market, leading to increased demand and potentially higher home prices. If you've been waiting to list, this could be the sign you needed. 📉 What’s Next? While future cuts aren’t guaranteed, this shift signals a new phase in the market. Is now the time to make a move? Let’s talk strategy. Drop your thoughts in the comments! 👇 #BankOfCanada #InterestRateCut #MortgageRates #RealEstateMarket #HomeBuying #HomeSelling

🚨 BREAKING: Bank of Canada Lowers Interest Rates to 3% – What Does This Mean for Buyers & Sellers? 🚨 The Bank of Canada has officially cut its policy rate by 25 basis points, bringing it down to 3%. Here’s how it impacts the real estate market: 🏡 For Buyers: Lower interest rates mean lower mortgage payments and increased affordability. This could be a great opportunity to lock in a better rate before competition heats up. 🏡 For Sellers: With borrowing becoming more accessible, more buyers may enter the market, leading to increased demand and potentially higher home prices. If you've been waiting to list, this could be the sign you needed. 📉 What’s Next? While future cuts aren’t guaranteed, this shift signals a new phase in the market. Is now the time to make a move? Let’s talk strategy. Drop your thoughts in the comments! 👇 #BankOfCanada #InterestRateCut #MortgageRates #RealEstateMarket #HomeBuying #HomeSelling

📢 Interest Rate Update: Bank of Canada Cuts Rates Again! 📉 The Bank of Canada has announced another 50 basis point reduction in its policy rate, bringing it down to 3.25%. This marks the fifth consecutive rate cut since June 2024, aimed at supporting economic growth and easing borrowing costs for consumers and businesses. 🏠 What does this mean for you? Buyers: You could potentially qualify for a higher purchase price! Sellers: It may affect the present value of your home and impact your overall selling experience. Homeowners: If you have a variable-rate mortgage, more of your monthly payments will go towards the principal. 📅 Next Announcement: Wednesday, January 29th, 2025. How do these changes affect your real estate plans? Share your thoughts in the comments below!

Thinking of Buying or Selling? January Could Be the New March! The Bank of Canada’s latest rate cut is already shaking up the market. Experts predict buyers will jump in as early as January, well ahead of the usual spring rush. Phil Soper, CEO of Royal LePage, says this move will keep activity strong through winter. With prices forecasted to rise 6% in 2025, waiting could mean higher costs and tougher competition. Buyers, get your mortgage pre-approvals now to lock in lower rates. Sellers, start prepping—listing early could help you capitalize on the demand. https://lnkd.in/eaTFN4tV #marketupdate #Realmontreal