Great news for homeowners and prospective buyers!
Last Wednesday, the Bank of Canada announced a significant .50% cut to the overnight target rate, dropping it from 4.5% to 3.75%. This move promises to reshape the landscape for variable rate mortgage holders, potential purchasers, and those approaching mortgage renewals in 2025. The overnight target rate aka the policy interest rate, key interest rate,...
Bank of Canada Makes Supersize 50bps Cut
