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Important News: Bank of Canada Cuts Interest Rate to 2.5%

The Bank of Canada has recently made a significant move by reducing its key interest rate for the first time since March, bringing it down by 25 basis points to 2.5%. This decision reflects the central bank's response to a slowing economy and easing inflation pressures. If you’re considering buying or selling a home, it’s essential to understand how this change can impact….

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Over a Third of Canadians Can’t Pay Their Mortgages Anymore

A recent survey by REMIC uncovered that one-third of Canadian homeowners express regret about their current mortgages, primarily due to concerns about affordability and feeling stuck with unfavourable rates. The findings highlight a significant need for increased financial awareness as homeowners navigate the challenges posed by recent interest rate hikes.

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Real Estate, Interest Rates Timsold Marketing Real Estate, Interest Rates Timsold Marketing

The Bank of Canada Holds Rate at 5% but Warns About Rate Increases Later Down the Road.

The Bank of Canada has opted to maintain its benchmark interest rate at 5%, marking the second consecutive instance in which the central bank has refrained from adjustments. This could indicate a shift towards a more conservative stance, given the ten rate increases enacted in the past year.

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Where will the next generation live?

Toronto housing has simply become unaffordable. Some experts suggest there's a 0% chance of affordability ever returning to the GTA real estate market. As mortgage interest rates continue to rise, this has resulted in a significant decline in home sales activity. Where will the next generation live?

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