Bank Of Canada | Evelyn Lopes Realty Team_Blog

Saturday, June 1, 2024   /   by Evelyn Lopes

Mid-Year Market Update for 2024: What Buyers and Sellers Need to Know

Once again, the number one story in real estate this summer is mortgage rates. But unlike last year, when a surprise series of rate hikes from the Bank of Canada sent skittish buyers back to the sidelines, all signs now point to the opposite scenario. Instead of market-chilling rate hikes, economists now expect market-quickening rate cuts—possibly starting as soon as this month.1
That means the housing market is likely to get interesting over the next few months. If fixed mortgage rates continue to drop in anticipation of a lower policy rate, more buyers are expected to show up looking for a deal before home prices take off in 2025 and 2026.2
Listings are also on the upswing and homeowners are feeling increasingly optimistic that their home values will rise over the next year, per a new Canada Mortgage and Housing Corporation (CMHC) study. So we could see more sellers-in-waiting regain the confidence to list their homes at strong but realistic prices.3,4
With pent-up demand co ...

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Tuesday, February 13, 2024   /   by Evelyn Lopes

How the Overnight Lending Rate Influences Your Financial World

How the Overnight Lending Rate Influences Your Financial World
Ever stopped to think about how a decision made in a high-level banking meeting can affect your mortgage, your savings, and even your entire financial roadmap? It's pretty mind-boggling when you put it into perspective.

Today, we're going to peel back the curtain on one of the banking world's most influential figures – The Bank of Canada's  Overnight Lending Rate, also known as the Key Interest Rate. Understanding this rate is key to grasping the bigger financial picture.
What is the Overnight Lending Rate?
Simply put, the Overnight Lending Rate is the interest rate at which banks lend money to each other. Think of it as the drumbeat to which the entire banking sector marches. It's not just any number; it's the pulse of the banking system, dictating the tempo of their day-to-day lending.
Recently, on January 24, the Bank of Canada made headlines by keeping this rate steady at 5%. This decision is more signc ...

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Monday, July 17, 2023   /   by Evelyn Lopes- Klarine

Creating a winning real estate strategy to finance your home purchase in today’s changing market

Are you dreaming of owning a home within the Toronto GTA, but feel lost in the twists and turns of today's housing market? Check out this blog where you will uncover tips to guide you through creating a rock-solid plan to make that dream home yours.
In the ever-evolving real estate landscape, the urgency for a robust real estate strategy has never been greater. Faced with unprecedented market dynamics and fierce competition, your journey towards homeownership must be underpinned by a comprehensive plan.
Understanding the Basics Real estate isn't merely about purchasing a property - it's about making a long-term investment. With the Toronto GTA’s dynamic market, a clear understanding of the fundamental principles of home financing is critical. The process can be complex, but it becomes manageable when you fully comprehend the basics.
Economic Factors Influencing the Real Estate Market To create a winning strategy, you need to understand the economic indicators that play a ; ...

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Thursday, July 13, 2023   /   by Evelyn Lopes- Klarine

Bank Of Canada Raises Key Interest Rate by +0.25%- July 12th 2023

In a move that comes as no surprise to industry analysts, the Bank of Canada has hiked its overnight interest rate by 0.25% to 5% on July 12th, 2023. The increase, which is part of an ongoing policy of quantitative tightening, was triggered by "an accumulation of evidence" highlighting the persistence of excess demand and elevated core inflation. 

This marks the tenth interest rate hike by the Bank since March 2022 and is expected to lead to banks raising their prime rates to 7.20%. The policy shift, while expected, has sparked concern among observers and is likely to have an immediate impact on variable mortgage rates. 

The Bank's decision was informed by several factors, including a Canadian economy that is demonstrating greater resilience than expected. Despite predictions of consumer spending slowing down due to successive increases in interest rates, recent retail trade data indicates that excess demand remains persistent. 

A significant problem is the ho ...

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Thursday, July 13, 2023   /   by Evelyn Lopes- Klarine

Bank Of Canada Raises Key Interest Rate by +0.25%- July 12th 2023

In a move that comes as no surprise to industry analysts, the Bank of Canada has hiked its overnight interest rate by 0.25% to 5% on July 12th, 2023. The increase, which is part of an ongoing policy of quantitative tightening, was triggered by "an accumulation of evidence" highlighting the persistence of excess demand and elevated core inflation. 

This marks the tenth interest rate hike by the Bank since March 2022 and is expected to lead to banks raising their prime rates to 7.20%. The policy shift, while expected, has sparked concern among observers and is likely to have an immediate impact on variable mortgage rates. 

The Bank's decision was informed by several factors, including a Canadian economy that is demonstrating greater resilience than expected. Despite predictions of consumer spending slowing down due to successive increases in interest rates, recent retail trade data indicates that excess demand remains persistent. 
A significant problem is the hous ...

  real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, brampton real estate, orangeville real estate, caledon, real estate market, erin real estate, mortgage, mortgages, interest rates, high interest rates, bank of canada