The Bank of Canada’s decision to hold the policy rate steady at 2.25% for the second consecutive time has sparked optimism among GTA real estate investors and potential first-time homebuyers. According to industry experts, this creates a “rare opportunity” for buyers to enter the market at potentially more affordable prices than in previous years. While uncertainty remains around geopolitical risks, particularly concerning CUSMA, the rate hold could spur confidence. Anne-Elise Cuglari Allegritti of Royal LePage notes that the average first-time buyer, often in their mid-30s, may require more space, influencing their property choices. Experts advise considering personal risk tolerance when choosing between fixed and variable mortgages and suggest that REITs with office holdings might present attractive investment opportunities given lower vacancy rates and potential market recovery. To delve deeper into these insights, read the full article on BNN Bloomberg.
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