The Bank of Canada’s Interest Rate Hikes Impact Canada’s Housing Market

The report from RBC Economics suggests that the Bank of Canada's interest rate hikes have had an impact on Canada's housing market, resulting in a decrease in home sales and a slowdown in the pace of price growth. However, the market is now more balanced between buyers and sellers, with the sales-to-new-listings ratio for Canada at 59%, indicating a market that is neither favoring buyers nor sellers. Ontario and British Columbia were the most affected provinces, with notable decreases in activity.

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