Latest Market Trends

Dated: October 24 2024

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Thursday, October 24, 2024

Market Trends

Bank of Canada makes supersized 50 basis point cut to overnight lending rate

In its scheduled October 2024 announcement, the central bank lowered the target for the overnight lending rate by 50 basis points to reach 3.75%. This marks the fourth consecutive cut to rates in 2024, and the largest decrease since the onset of the pandemic in March 2020. 

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Buying & Selling, Market Trends

Rising home prices in Toronto are on track to wipe out savings from falling interest rates soon

Canadian consumers have been patiently waiting for interest rates and home prices to fall, especially those living in some of the country’s most expensive cities. This is certainly the case in Toronto and the GTA. Although more rate cuts are very likely to take place this year, the opportunity to take advantage of decreased monthly carrying costs is quickly coming to an end.

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In case you missed it...

Interest rate cuts spark uptick in Canadian home sales in September

After three interest rate cuts, Canada’s housing markets are finally making a comeback

Toronto real estate market shows promising gains in September

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