Bank of Canada Rate Cut vs. Tariffs: Which Will Dictate the Spring Market?
Clay Jarvis | Nerdwallet • April 1, 2025
Under normal circumstances — anyone remember what those feel like? — falling mortgage rates would be fuel for the spring housing market. But it’s hard to start a fire when the Canadian economy is soaked through with tariff-related fear and uncertainty.
The Bank of Canada is doing what it can to warm home buyers up. By lowering the overnight rate for the seventh consecutive time today, the Bank has helped slash 2.25% from variable mortgage rates since June 2024.
Once lenders absorb today’s cut, both five-year variable rates and the most common fixed rates will be available for below 4%.
Historically, those are approachable rates. But we’ll soon find out how little rates matter when home buyers face an unprecedented threat to their livelihoods.
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SURREY, BC — Fraser Valley home sales climbed for the second straight month in October, a sign that some buyers may be responding to steadily easing prices. The Fraser Valley Real Estate Board recorded 1,123 sales on its Multiple Listing Service® (MLS®) in October, a 17 per cent increase from September, but 16 per cent below sales from the same month last year.
The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. 👉 More Details Here
