The Bank of Canada left the overnight rate at 5% again. Inflation in the US and in Canada is decreasing the likelihood of a rate cut in the near term. The higher rates we've seen are actually in line with historic averages going back a century. They are of course, problematic for buyers and people who are refinancing because of high valuations. Unfortunately if rates are lowered demand and prices will both increase due to massive supply and demand imbalances. CMHC forecasts a shortfall of 3.5 million homes by 2030. Current high immigration numbers are making the shortfall more severe.

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Andrew Shackleton, Broker

Royal LePage Wolle Realty

519 578 7300
226 600 1548
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