Table des matières
Montreal, October 23, 2024 – Today, the Bank of Canada announced a substantial cut in its key interest rate to 3.75%. This 50-point cut will help reduce inflationary pressures and bring us progressively closer to the desired 2% target.
The Impact of the Key Interest Rate Drop on the Quebec Real Estate Market
This further reduction in the key interest rate will have an impact on the economy as a whole, as well as on the Quebec real estate market. More specifically, mortgage rates are set to fall, which will be of great benefit to homebuyers. This change could make home ownership easier.
As for sellers, lower interest rates will encourage them to sell their properties. Indeed, with a greater number of potential buyers able to obtain mortgage loans, this could enable them to sell their property more quickly.
Source : Banque du Canada
In short, this significant reduction will benefit buyers and sellers alike. According to some economists, further changes are likely in the coming months. We invite you to keep up to date with the latest real estate news by following our various articles on the subject.
Sources
Banque du Canada. https://www.banqueducanada.ca/grandes-fonctions/politique-monetaire/taux-directeur/
Le Devoir. https://www.ledevoir.com/economie/814337/baisse-taux-directeur-quel-impact-marche-immobilier
Le Journal de Montréal. https://www.journaldemontreal.com/2024/10/22/grosse-baisse-des-taux-dinteret-a-venir
