Don't wait for the 'perfect market' when buying a home: expert

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The Bank of Canada lowered its key interest rate by 25 basis points, providing a glimpse of hope to mortgage holders. However, one banker says it could be a mistake for prospective homebuyers to plan their next move based on Wednesday's announcement.

The Bank of Canada lowered its key interest rate by 25 basis points Wednesday, announcing the first cut in more than four years and providing a glimpse of hope to mortgage holders.

But for anyone waiting for the perfect moment — or another rate drop — to get into the housing market, Schilling offers a piece of advice he says has worked for him. "People fall into the trap of thinking of this solely as an investment, but it's the place we live … and there are real human factors that need to be taken into account."Schilling cautions there are other factors that influence home prices, from one localized market to the next. These can include local population increases and housing supply shortages, both of which can drive up the cost of housing, independent of the benchmark rate.

The chairman of a national security committee says the panel 'cannot add anything' to its recent finding that some MPs wittingly assisted the efforts of foreign states to interfere in Canadian politics.The World Health Organization said on Wednesday a death was caused by the first laboratory-confirmed human case of infection with a subtype of avian influenza.

The municipality of Tantramar, N.B., is holding a sale to get rid of surplus items it acquired after the Town of Sackville amalgamated with smaller communities last year.Regina Rifles statue officially unveiled in France The Stanley Cup was passing through town Friday, and Lanny Legend took it upon himself to take it for a surprise visit.Felicity Donovan was a gentle, kind person who loved her younger sister. Following in her mother Laura’s footsteps, the 16-year-old was learning how to tattoo – work that now has a different meaning to her mother.B.C.

The François Legault government has no plans to offer Indigenous students any further relief from the requirements of the new Charter of the French Language.The STM says it is eliminating seven bus routes in Montreal as part of an overhaul of services on the island.The body of the driver of a vehicle that was submerged in the waters of the Riviere-des-Prairies has been found.

 

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