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.
As anticipation builds that interest rates will begin to ease, Royal LePage is predicting housing prices will begin to rise much more steeply later in 2024 - and not surprisingly, the national realtor sees Toronto and Montreal leading the way.
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