UPDATED: Wednesday’s 25 BPS cut to Canada’s overnight interest rate, to three per cent, is likely to help homebuyers but it won’t solve other barriers in the housing industry including construction costs and high development fees, industry observers said.
UPDATED: The fifth consecutive rate cut by the Bank of Canada (BoC), 50 BPS to an overnight interest rate of 3.25 per cent, will likely stimulate homebuying in 2025. But real estate industry insiders expect many condo buyers to remain on the sidelines - for now.
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