Inflation Remains Elevated to Round Out 2023 📈

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. 

Interest rate cuts are coming, but the Bank of Canada won't say when

Weary Canadian households, clobbered by nearly two years of rising prices and skyrocketing interest rates, will have to wait a little longer for relief on their borrowing costs.

The Bank of Canada left its key overnight lending rate unchanged at five per cent on Wednesday, citing the persistence in underlying inflation and concerns that it might declare victory too soon and be forced to backtrack.

Concerned group petitions federal government to stop investment companies from buying single-family homes

Concerns about exacerbating the country’s housing affordability crisis have resulted in a petition on Change.org addressed to Prime Minister Justin Trudeau and Honourable Sean Fraser, minister of housing.

A volunteer group, led by Hossein Maleki, president and CEO of Satel Creative, started the petition in hopes of stopping investment companies from continuing to buy single-family homes, something of deep concern to the group.

Housing market has turned a corner, Royal LePage says

Phil Soper, CEO of Royal Lepage, talks with Financial Post’s Larysa Harapyn about what’s in store for the Canadian real estate market when the Bank of Canada begins cutting interest rates.

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