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However, that also means affordability challenges will persist — even though price appreciation will decelerate, Canada’s rising interest rate environment will preclude market participation for countless Canadians. But, early as it is, the Bank of Canada’s March 2 25 basis point increase sent Canadians a ‘now or never’ signal and sales may have exacerbated demand, RBC contends. Nevertheless, as interest rates continue rising — RBC anticipates additional 1.5% increases by the end of the year — fewer homes will change hands.
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