The Blog
Bank of Canada cuts interest rates - what you need to know
The Bank of Canada cut the interest rate last week in an apparent bid to deal with the economic shock created by the threat of coronavirus.
The Bank reduced the national interest rate by 0.50% to 1.25% on the 4th March, following the cut by the US Federal Reserve the day before.
The threat of coronavirus has caused business activity to fall sharply in some regions and the currency to depreciate, while the Bank warned that business and consumer confidence could fall further.
Why You Might Want to Buy a House Right Now
For many people, summer is the time to hit pause, sit back, relax, take some extra time with family, and spend a few days with the kids while they are on school holidays. And while it sounds like a great thing to do, it isn’t the best plan for people looking to sell their home: in July and August, home sales slow down dramatically, coming off a busy spring, and now highly sought-after houses sit on the market, because would-be owners are on vacation.
But what is bad news for sellers is great news for buyers. If you are thinking about buying a home, August is the time to do it.