📉 Interest Rate Drop in Canada – What It Means for You! 🏡💰
On March 12th, the Bank of Canada announced that it had lowered the target for the overnight lending rate by 25 basis points to 2.75%. This marks the seventh consecutive decrease to rates since June 2024.
In recent months, the pervasive uncertainty created by continuously changing US tariff threats has shaken business and consumer confidence. This is restraining household spending intentions and businesses’ plans to hire and invest.
Against this backdrop, and with inflation near the 2% target, the Governing Council decided to reduce the policy rate a further 25 basis points,” said Tiff Macklem, Governor of the Bank of Canada, in a press conference with reporters following the announcement.
In recent months, the pervasive uncertainty created by continuously changing US tariff threats has shaken business and consumer confidence. This is restraining household spending intentions and businesses’ plans to hire and invest. Against this backdrop, and with inflation near the 2% target, [the] Governing Council decided to reduce the policy rate a further 25 basis points,” said Tiff Macklem, Governor of the Bank of Canada, in a press conference with reporters following the announcement.
In its announcement, the Bank acknowledged that the Canadian economy had started the year on good footing. Now, with a trade war underway with the United States, the country is expected to see slower economic activity and increasing inflationary pressures in the months ahead, justifying the central bank’s decision to reduce its policy rate yet again.
Here’s what this means for buyers and sellers:
âś… Buyers: Lower rates mean cheaper mortgages and increased purchasing power! Now is a great time to secure a lower monthly payment.
âś… Sellers: More buyers can afford homes, meaning higher demand and potentially better offers for your property!
💡 Thinking of buying or selling? Let’s discuss how this rate drop affects you! 📩 DM me for a consultation!
On March 12th, the Bank of Canada announced that it had lowered the target for the overnight lending rate by 25 basis points to 2.75%. This marks the seventh consecutive decrease to rates since June 2024.
In recent months, the pervasive uncertainty created by continuously changing US tariff threats has shaken business and consumer confidence. This is restraining household spending intentions and businesses’ plans to hire and invest.
Against this backdrop, and with inflation near the 2% target, the Governing Council decided to reduce the policy rate a further 25 basis points,” said Tiff Macklem, Governor of the Bank of Canada, in a press conference with reporters following the announcement.
In recent months, the pervasive uncertainty created by continuously changing US tariff threats has shaken business and consumer confidence. This is restraining household spending intentions and businesses’ plans to hire and invest. Against this backdrop, and with inflation near the 2% target, [the] Governing Council decided to reduce the policy rate a further 25 basis points,” said Tiff Macklem, Governor of the Bank of Canada, in a press conference with reporters following the announcement.
In its announcement, the Bank acknowledged that the Canadian economy had started the year on good footing. Now, with a trade war underway with the United States, the country is expected to see slower economic activity and increasing inflationary pressures in the months ahead, justifying the central bank’s decision to reduce its policy rate yet again.
Here’s what this means for buyers and sellers:
âś… Buyers: Lower rates mean cheaper mortgages and increased purchasing power! Now is a great time to secure a lower monthly payment.
âś… Sellers: More buyers can afford homes, meaning higher demand and potentially better offers for your property!
💡 Thinking of buying or selling? Let’s discuss how this rate drop affects you! 📩 DM me for a consultation!