Real estate watchers say the Bank of Canada’s decision to hold its key policy rate steady at 2.75 percent will likely keep a sluggish housing market at the status quo.
Wednesday’s announcement marked the first time the central bank has left the benchmark rate unchanged following seven consecutive cuts since June.
Ratesdotca mortgage and real estate expert Victor Tran says the current economic environment is not inspiring consumer confidence in large purchases, such as a mortgage on a home, and the Bank of Canada’s rate hold won’t do much to change that.
National home sales had begun picking up late last year after some rate cuts and economists had predicted an uptick in activity throughout 2025 before economic uncertainty caused by the U.S.-Canada trade war put a damper on those hopes….