🚨 Breaking News: Bank of Canada Lowers Key Interest Rate! 🚨
Great news for homeowners and buyers! The Bank of Canada has just made a bold move, reducing its overnight rate to 3.25%, with the Bank Rate now at 3.5% and the deposit rate at 3.25%. This shift is aimed at stimulating economic growth while maintaining price stability across Canada.
With global markets showing mixed signals—strong growth in the US, slower recovery in Europe, and easing conditions worldwide—the Bank is adjusting to a softer Canadian economy. Despite growth slowing in Q3 and some moderation in inflation, consumer spending and housing activity are picking up, signaling that the rate cuts are starting to take effect.
đź’ˇ What Does This Mean for You? This reduction in rates could mean lower mortgage rates, offering you more flexibility and potential savings. Whether you're looking to buy your first home, refinance, or invest, now could be the perfect time to take action!
Let’s chat about how this change can work to your advantage! I'm here to guide you through the latest opportunities and help you make the most of these new financial conditions. Don’t wait—connect with me today!
https://www.dianebuchanan.ca/bank-of-canada-rate-announcement-dec-11th-2024
