BoC CUTS Rates—With More to Come?

Here is your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 

How Bank of Canada's rate cut will affect real estate markets, according to experts

On Wednesday, the Bank of Canada cut its benchmark interest rate by 25 basis points for the second time this year, bringing it down to 4.5 per cent, its lowest since April 2023. The move was widely expected by economists, who are forecasting further cuts through 2024 and possibly into next year. Here’s what experts have to say about the impact of the cuts on Canada’s real estate markets.

Homebuyer FOMO Starts to Pump Up Canada’s Real Estate Market

Canada’s interest-rate cut — the first among Group of Seven economies — has jump-started the country’s housing market. Buyers and sellers are striking more deals, pushing the benchmark price for a home up in June for the first time in 11 months. Sales rose for the first time since January.

Canada’s best places to live: The ideal community for every type of buyer

In Canada, conversations about the housing market often centre around price, which is a key determinant for many buyer decisions. Many households have trouble getting into the market, considering the national average home price was $696,179 in June. That being said, finding the right place to live involves more than just cost. 

Parrott Gallery welcomes Lisa Ferguson’s exhibit Whispers of the Wild. As one of the Parrott Shop artists, many will recognize Lisa’s engaging illustrative style in her mixed media pieces. 

Belleville Lions Club Concerts on the Bay

Enjoy FREE concerts every Wednesday and Sunday this summer at West Zwick’s Park hosted by the Lions Club of Belleville!