Real Estate Appraiser/ Owner @ DL Appraisals, Appraisal Institute of Canada Member and member of the NHL Alumni
The Bank of Canada cuts its overnight lending rate to 4.5% Key highlights: The Bank of Canada’s (BoC) decision to lower its overnight lending rate by an additional 25 basis points today sends an important message: the BoC is continuing its easing cycle ahead of major central banks. If this trend continues as expected, additional cuts before the end of the year should provide Canadian consumers with long-awaited rate relief and inject confidence back into the market. Another interest rate cut is meaningful not because it will immediately spur action across the housing and commercial real estate (CRE) market, but because it signals that rates are trending down. What’s important for commercial real estate is a stable interest rate environment, and now that the market knows the hold is over, we can reasonably conclude that we are moving towards a new, stable point.
