The real estate market in Canada depends on interest rates for loans and mortgages and particular on interest rate established by The Bank of Canada. Currently it 1.25%.
Based on it other important rate is established the prime rate.
The prime rate, also known as the prime lending rate, is the annual interest rate Canada’s major banks and financial institutions use to set interest rates for variable loans and lines of credit, including variable-rate mortgages. The prime rate in Canada is currently 3.45%
Below are important dates set in second half of 2018 to make your decision informed when to invest or plan transaction in real estate:
May 30, July 11, September 5, October 24 and December 5 2018
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Thanks, Sergey Bogdanets