Real Estate Industry Closely Watching Bank of Canada Interest Rates

The real estate industry is watching closely the Bank of Canada’s attempts at cooling an overheated economy by raising interest rates.

President and CEO of Century 21 Canada, Martin Charlwood, is in the capital city as part of Century 21’s national convention, being held in person for the first time in two years. The real estate market rebounded in a significant way during the pandemic, experiencing “unprecedented highs” and prompting the Bank of Canada to start raising interest rates to cool inflation.

Charlwood says while a concern for the real estate industry, interest rates remain well below historic levels.He says in the country’s busiest markets, demand remains high while inventory remains low, which is keeping prices high in markets like Vancouver, Toronto and Montreal.

It's time to live off the grid and grow my food. I don't want to be harassed and bullied by the government anymore.

From what I’m hearing it won’t be the same crooks running it 😆

Shouldn’t they be watching this closely all the time. I would think it is their number one priority

When a $100 barely buys you a bag of groceries it's pretty sure Canada's Economic Status is in trouble....

Hope they raise it to 18% so prices come crashing down. If you were stupid to buy at $500,000 for a $100,000 house, then that's your problem. Time to reset.

Bank of Canada soon will be no more.

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