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.
Sales stayed steady , while new listings dipped slightly. The key shift is pricing, with homes selling nearly 6% below asking. Buyers are negotiating, and sellers need to be sharp on pricing.
🍀 You Forgot Green… But We Didn’t | Langley Real Estate A little St. Patrick’s Day fun… but also a reminder. In today’s Langley real estate market, success isn’t about luck. It’s about strategy, timing, and having the right team behind you. In this quick video, Andy and Kylene from the Schildhorn Realty Group show how working together makes all the difference when buying or selling in the Fraser Valley market. If you’re planning a move, let’s talk through your options and build a plan that works.
Langley remains the 12th most expensive community to rent a home in Canada, but rents here and across the country continued to drop. 👉 Read More
