While the Bank of Canada’s fourth straight cut to its key interest rate could inspire potential homebuyers to get off the sidelines, some commentators say the housing market may not see a huge spark just yet.
The central bank brought its key policy rate down by half a percentage point to 3.75 percent on Wednesday after Canada’s inflation rate fell to 1.6 percent in September.
Ratesdotca mortgage and real estate expert Victor Tran says many would-be buyers will likely wait for the Bank of Canada’s final rate announcement of the year in December before making a move because they are worried the market hasn’t yet bottomed out….