February’s inflation numbers suggest a possible shift in the monetary policy stance of the Bank of Canada, with speculation rising that it may opt for its first mortgage interest rate cut as early as June.
After an uneventful November and the tension of a cooling year-end market, the national real estate figures for December have defied expectations. A surprising upswing of 8.7% monthly compared to November, with 38,135 property transactions. On an annual basis, sales activity saw a 3.7% increase.
In October, Canada’s inflation rate dipped to 3.1%, slightly below the expected 3.2%, primarily due to a 6% monthly drop in gasoline prices. The economic landscape reveals sluggish GDP growth, a rising unemployment rate, and a likelihood of the Bank of Canada pausing interest rate hikes until April 2024, followed by a potential 75 basis points reduction by the end of the following year.
Despite higher home prices and larger mortgages, monthly housing costs are currently lower on average for homeowners than renters.
February’s inflation numbers suggest a possible shift in the monetary policy stance of the Bank of Canada, with speculation rising that it may opt for its first mortgage interest rate cut as early as June.
After an uneventful November and the tension of a cooling year-end market, the national real estate figures for December have defied expectations. A surprising upswing of 8.7% monthly compared to November, with 38,135 property transactions. On an annual basis, sales activity saw a 3.7% increase.
In October, Canada’s inflation rate dipped to 3.1%, slightly below the expected 3.2%, primarily due to a 6% monthly drop in gasoline prices. The economic landscape reveals sluggish GDP growth, a rising unemployment rate, and a likelihood of the Bank of Canada pausing interest rate hikes until April 2024, followed by a potential 75 basis points reduction by the end of the following year.
Despite higher home prices and larger mortgages, monthly housing costs are currently lower on average for homeowners than renters.
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