After five straight holds of the Bank of Canada's key interest rate that followed its hiking cycle of more than a year, economists say a rebound awaits the national housing market — but don't expect a big surge just yet.
But Sondhi said Canada's housing market is "akin to a bit of a coiled spring," noting sales activity and prices typically jump when there's a shift "that jolts the market" such as an interest rate cut. “At this point, it’s hard to know whether buyers are going to wait for a signal from the Bank of Canada or whether they're just waiting for the spring listings to hit the market."Greater Toronto Area-Realtor Dean Artenosi called the current moment a "tipping point where the worst is behind us." He said the central bank has signalled that interest rates have "levelled out" through its consecutive rate holds, and that has made buyers more optimistic.
The Vancouver real estate agent said many of his clients now find themselves in a holding pattern while waiting for rates to fall. He said others are weighing the pros and cons of buying before that point in time, which is expected to spur price growth amid lower borrowing costs. "I don't see it as much of an issue of being prudent or cautious, but more in terms of the budget constraint to buyers," said Hogue.
Artenosi said he's urging his clients not to wait. While borrowing conditions could be more favourable in the months to come, he warned of other factors, including Canada's growing population, that could make it more difficult to buy at an affordable price. Canada's military will take a bigger role in the North over the next two decades as climate change and increasingly aggressive foes threaten Arctic sovereignty, says a new defence policy document released Monday.The trail for a Saskatchewan man accused of abducting his daughter to prevent her from receiving a COVID-19 vaccine in 2021 began Monday at the Court of King's Bench in Regina with the selection of a 14 person jury.
Donald Trump asked a New York appeals court on Monday to reverse his gag order and move his hush money criminal trial out of Manhattan in an eleventh-hour bid for a delay just a week before it is scheduled to start.Protesters in southern Mexico set the state government building afire Monday and torched at least a dozen cars in the parking lot.
There's still no standard test to detect pancreatic cancer early. Scientists are working to change that When Irina Novoselsky contemplates social media, she's certain the next decade won't be anything like the last because consumers increasingly allow the online world to shape nearly every aspect of their lives.Some Canadians are feeling a little more optimistic about their debt with the prospect of interest rate cuts on the horizon, said MNP Ltd.
Mounties in North Vancouver say they arrested a man who was “manipulating” a replica handgun near a public library over the weekend.Though the skies clouded the total solar eclipse as it peaked through Toronto, several onlookers still donned their certified solar shades to view the 'once-in-a-lifetime' celestial event.
Takeoff: WestJet increasing flights from Winnipeg to Montreal and Ottawa, adds direct Nashville routeMonday's solar eclipse was only partial in Saskatchewan, but with proper eyewear it was still possible to see the moon crossing paths with the sun during the early afternoon hours.
Searchers are scouring a remote section of northwestern Vancouver Island after a kayak was recovered over the weekend with no sign of its 21-year-old occupant.B.C. man sentenced for 'horrific, cowardly' beating death of 78-year-old man