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.
In an echo of the provincial election last fall, the Fraser Valley elected a wave of Conservative candidates Monday while watching the rest of the country tilt in the opposite direction. Find out more here
Housing minister declares victory. Experts warn it's not that simple. Read More
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