Real Estate News

Homebuyer Sentiments Inflation Drop Offers Hope Amidst Interest Rate Concern


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Lower inflation figures for September could offer some relief to homebuyers, despite concerns about an impending interest rate hike by the Bank of Canada. The overnight lending rate currently stands at 5%, a multi-year high, with the five-year fixed rate at 5.49%, a 15-year high. However, recent data from Statistics Canada shows a 0.2% decrease in inflation to 3.8% in September, suggesting that past rate increases are having an impact.

The respondents also voiced concerns about government responses to housing affordability issues. Most strongly disagreed that the government had done enough to address these concerns. Housing demand, soaring prices, and low supply were seen as key factors affecting buyer interest. Despite these challenges, more than half of the respondents indicated their intention to purchase a home in the near future, with over 7% planning to do so in the next 4-6 months and another 5.4% within 1-3 months.

Read the full article on: REAL ESTATE MAGAZINE


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Amandeep Singh
Amandeep Singh
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