Overview: a look at the January 2023 interest rate hike, including its impact on Toronto home sales, prices, inventory and mortgages, plus predictions for future rate increases. On January 25, the Bank of Canada (BoC) raised its overnight lending rate by 25 basis points to 4.50%. Although that was the…
Tag: bank of canada
2022-2023 GTA Housing Market Review & Forecast
Overview: a look back at the 2022 GTA housing market and predictions for 2023. Topics include home sales, prices, inventory, interest rates, inflation, mortgages and more. 2021 saw a buying frenzy due to record-low interest rates. 2022 saw a sharp drop in home sales and prices after multiple rate hikes….
August 2022 Market Report: GTA Home Sales & Prices Drop
Overview: a look at the August 2022 housing market numbers for Toronto and the GTA, with a focus on condos, rentals, and the impacts of the latest interest rate hike. The following headlines sum up the August 2022 housing market: Toronto Home Prices Drop 16% in Historic Five-Month Slump —Bloomberg…
GTA Housing Market Shows Signs of Cooling in March 2022
Overview: a look at the March 2022 GTA housing market, with insights on sales, prices, and inventory, plus advice for buying and selling. March was a remarkable month for Toronto real estate, with average home prices setting yet another record. The month also saw the first interest rate hike in…
Benchmark Interest Rate: 2018-2019 Overview
The Decision Not To Raise Rates Steady as she goes. That seems to be the Bank Of Canada’s motto as, for the first time in over a year, it’s keeping the benchmark interest rate unchanged. In fact, since June 2017 both the central and chartered banks have hiked their rates…