Interest Rates? Housing Prices?

There has been and always will be consistent change regarding the housing market, but with the right information and guidance, it does not have to be so uncertain.

Currently, the Bank of Canada has been increasing rates in order to curb inflation and the prices of houses have steadily declined. However, Jimmy Jean, Chief Economist and Strategist for Dejardins has been speaking publicly to reassure that the prices will stabilize. Jean states that there is not a collapse expected “by any measure” in the near future based on our current trends.

The Bank of Canada is expected to raise the interest rates by possibly another 50 basis points by the end of this month.

So what does this mean for you?

Investing in a home is an important decision, whether you are buying for yourself and your family, or you are looking to take on an income property. It is important to talk to a realtor that recognizes the property as a long term investment. An experienced realtor will have the knowledge to help you feel reassured during these unprecedented times in the market.