Ever wonder about the assessed value of your home and why it is so different from the actual market value of your home? The Municipal Property Assessment Corporation or MPAC, is an independent, not
Is this the last of the Interest hikes for the unforeseeable future?
Dated: January 26 2023
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The Bank of Canada increased its target rate for the eighth time in less than 12 months, by a quarter of a percentage point, making borrowing money even more expensive. Yet, at a quarter of a percentage point-it is also the smallest hike since March!
All of Canada's biggest lenders raised their prime lending rates in response, adding .25% to their rates to bring it to 6.7%, starting Today. All the more reason to shop around for your mortgage with a trusted mortgage broker, I have access to ones who can still reward those with excellent credit with rates under 5%!
This has Observers saying it is a sign that the Bank may be done with hiking rates for the next little while. Some are saying that they are confident that this last hike will be the last for now and even go so far as to say that we may see rates cut again as soon as the 3rd Quarter. Wishful thinking? Unfortunately no-one has a crystal ball.
Albeit, it may be a conditional pause-conditional on economic developments evolving broadly in line with the Bank of Canada's Outlook.
The bottom line is if you are in a position to buy: "You don't wait to buy Real Estate, you buy Real Estate and wait"!
For more specific details on our local market in the Southern Georgian Bay area, contact me, your trusted professional advisor.
Helping you is what I do!
Claire Weston
Eighteen years working with Buyers, Sellers and Investors in the Southern Georgian Bay Area. I am a licensed Real Estate Broker and an accredited Seniors Real Estate Specialist, SRES®. I empower B....
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