Market Update March 2020
Posted by Capital City Group on
This week the Bank of Canada lowered their overnight rate by .50% to 1.25%. This was, in my opinion, a kneejerk reaction to the potential Covid 19 outbreak that has the potential to super charge our spring real estate market, which has been sitting in a sellers market already for the last 6 months. Coupled with the softening of the stress test effective April 6th we are likely to see prices of entry and mid level housing to rise, perhaps not at the levels seen through the last aggressive market cycle, but stronger growth than I had anticipated before this rate cut.