{"id":53866,"date":"2024-12-11T19:42:14","date_gmt":"2024-12-11T19:42:14","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/12\/11\/bank-of-canada-rate-cut-and-what-it-means-for-the-housing-market\/"},"modified":"2024-12-11T19:42:14","modified_gmt":"2024-12-11T19:42:14","slug":"bank-of-canada-rate-cut-and-what-it-means-for-the-housing-market","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/12\/11\/bank-of-canada-rate-cut-and-what-it-means-for-the-housing-market\/","title":{"rendered":"Bank of Canada rate cut and what it means for the housing market"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<li class=\"breadcrumbs__item\">Real Estate<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Move expected to provide significant relief to the real estate sector, easing borrowing costs and stimulating demand<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Dec 11, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">4 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"2e21cf5c-1e60-4fe3-88aa-117e794c7ef5\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=webp&amp;sig=Iqh65XdTtD7LGOXv0L5xHg,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=webp&amp;sig=ncWXNEJMN2xo-7KaCg--OQ 2x\" type=\"image\/webp\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=jpg&amp;sig=AtBjC2xtsq8tyNExIDkdYg,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=jpg&amp;sig=bX2M0BzapiWQnHrLivxraA 2x\" type=\"image\/jpeg\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=webp&amp;sig=rZGzbQ3o2FGE8oHffzTMtw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=webp&amp;sig=8v3x_Qy6FFQsWsWXQVlLHw 2x\" type=\"image\/webp\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=jpg&amp;sig=6eW5HDgChcpi4-oLDS9Qyw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=jpg&amp;sig=7lT2C5-TTMUw23LCmnvXKA 2x\" type=\"image\/jpeg\"><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=288&amp;h=216&amp;type=webp&amp;sig=m4M9B_azIIEUQFcNThxQYA,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/housing-market-gs1211.png?quality=90&amp;strip=all&amp;w=576&amp;h=432&amp;type=webp&amp;sig=9tswZjA8nGx7SZqPsTUouA 2x\" type=\"image\/webp\"><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">The Bank of Canada&#8217;s most recent interest rate cut is expected to stimulate the housing market.<\/span> <span class=\"credit\">Photo by Peter J. Thompson<\/span> \/<span class=\"distributor\">Financial Post<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">The Bank of Canada announced today that it will lower its key overnight rate by 50 basis points to 3.25 per cent, marking its fifth consecutive interest rate cut and the second \u201cjumbo\u201d cut in a row. The move is expected to provide significant relief to the housing market, easing borrowing costs and stimulating demand in a time of slowing GDP growth and persistent global uncertainties.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment4408321460159799430435201789984768\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div 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of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">In a statement, governor Tiff Macklem emphasized that while inflation is now under control, with the consumer price index (CPI) hovering around the central bank\u2019s two per cent target, economic instability remains. This includes concerns about rising unemployment and potential impacts from U.S. trade policies.<\/p>\n<p>Here\u2019s what real estate analysts had to say about the changing market conditions:<\/p>\n<h2>Bond yields exerting downward pressure on fixed rates: Ratehub.ca<\/h2>\n<p data-async=\"\">Mortgage analyst Penelope Graham of Ratehub.ca notes that the Bank of Canada\u2019s decision aligns with expectations, as bond yields had moved into the 2.8 per cent range ahead of the announcement. The dip could exert downward pressure on fixed mortgage rates in the near term, though uncertainty around U.S. inflation and Federal Reserve policy may temper this effect. \u201cThe U.S. CPI report showing inflation at 2.7 per cent complicates the outlook for further yield declines,\u201d she added.<\/p>\n<h2>\u2018The bid-ask gap is slowly closing\u2019: Altus Group<\/h2>\n<p>Peter Norman, vice0president at Altus Group Ltd., attributed the central bank\u2019s accelerated easing measures to weak third-quarter GDP figures.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot16 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories4116138300220406544486329147719680\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" alt=\"Top Stories\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.5.4\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment6953285437208641830055063159046144\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cYes, the CPI number crept up in October, but not to a worrisome level, so a smaller cut still seemed unlikely,\u201d Norman said. He also highlighted trade tensions and their potential impact on investor confidence as factors influencing the Bank of Canada\u2019s decision. \u201cIncreased trade tensions could affect business investment decisions,\u201d he explained. \u201cThis points to more easing on the Canadian side.\u201d<\/p>\n<p>Norman anticipates that the Bank of Canada\u2019s rate will settle around 2.5 per cent, setting the stage for increased movement in the real estate market. \u201cThis should lay the groundwork for a long awaited uptick in transactions and development activity,\u201d he said.<\/p>\n<p>Ray Wong, also of Altus Group, suggested that the pace of future cuts will depend heavily on actions by the U.S. Federal Reserve. \u201cThe bid-ask gap is slowly closing,\u201d Wong said, referring to more balanced conditions in real estate markets. \u201cWe\u2019re going to see steady increases in activity next year, reflecting this year\u2019s rate decisions.\u201d<\/p>\n<h2>Rate cut might intensify competition, price out homeseekers: LowestRates.ca<\/h2>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment6562960698600356134144395593121792\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The rate cut also has implications for homebuyers. Leah Zlatkin, a mortgage broker and analyst with LowestRates.ca, described the current real estate market as dynamic but challenging.<\/p>\n<p>\u201cHomebuyers in the GTA (Greater Toronto Area) face a dilemma of strong sales and rising prices alongside economic uncertainty and affordability concerns,\u201d she said. Zlatkin warned that today\u2019s rate cut might intensify competition, potentially pricing out those waiting for a market cooldown.<\/p>\n<h2>\u2018Buyers will feel an urgency to act before affordability erodes\u2019: Royal LePage<\/h2>\n<p>Phil Soper, chief executive of Royal LePage, noted that the Bank of Canada\u2019s rate cuts are driving increased demand.<\/p>\n<p>\u201cBuyers have woken up to the reality that property prices are rising again, and more will feel an urgency to act before affordability erodes,\u201d Soper said. \u201cAs a result, we are anticipating a \u2018pull-ahead\u2019 of activity and an early start to the traditional spring housing market. Adding to this momentum is the change in lending policies that come into effect on December 15, which we believe will coax more sidelined purchasers to take advantage of their expanded borrowing power.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment3324365447151655826185434530054144\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<h2>\u2018Reduction could ramp up December activity\u2019: NerdWallet<\/h2>\n<p>The Bank of Canada also referenced upcoming mortgage rule changes aimed at improving affordability for first-time buyers. These changes, alongside lower rates, are expected to drive buyer demand and potentially push real estate prices higher.<\/p>\n<section aria-labelledby=\"moreTopicLabel1065185184512884570784596987215872\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" a=\"\" variable=\"\" rate=\"\" mortgage=\"\" is=\"\" the=\"\" better=\"\" option=\"\" in=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"For sale signs are seen in this file image. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1212-bc-mortgage.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=LwZmH2K-XY4t2zX2gPgx5A\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1212-bc-mortgage.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=Xn-9VXA9n4yTyU9p6LCgGw\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1212-bc-mortgage.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=LwZmH2K-XY4t2zX2gPgx5A, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1212-bc-mortgage.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=lOsHxidDQQNENWaNjJsmig 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1212-bc-mortgage.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=vmX-x12B6cIS22afXW1PcA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Why a variable rate mortgage is the better option in 2025<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" best=\"\" mortgage=\"\" rates=\"\" in=\"\" canada=\"\" right=\"\" now=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Bookmark this page to find the lowest national mortgage rates in Canada.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/low-mortgage-rates.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=sBA8V4j9DnJBR0Xtjow-mw\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/low-mortgage-rates.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=I8AnVo0HmrhNO9clUiDSFg\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/low-mortgage-rates.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=sBA8V4j9DnJBR0Xtjow-mw, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/low-mortgage-rates.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=80_0d-SSuD2Xf_Hlk9Hp7g 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/low-mortgage-rates.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=7IB51t5ApUOIiEsWzOmoAw 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">The best mortgage rates in Canada right now<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" how=\"\" long=\"\" before=\"\" million=\"\" condos=\"\" are=\"\" the=\"\" norm=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Condominiums nearing completion and up for sale in Burnaby, B.C. &#10;on May 23, 2024. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1210-bc-condo.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=ppfeOnghojnBNu_dBSzLNA\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1210-bc-condo.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=Um7wnNhq0zknNy5FoSZiBw\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1210-bc-condo.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=ppfeOnghojnBNu_dBSzLNA, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1210-bc-condo.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=DekhYTTg-vIqxk9vYgK-AQ 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/12\/1210-bc-condo.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=1QsZbJvCdOJclyYa7pHq6g 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Posthaste: How long before $1 million condos are the norm?<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Clay Jarvis, a mortgage analyst with NerdWallet, emphasized the impact on demand. \u201cCanada\u2019s housing market came roaring back after the October rate cut,\u201d Jarvis said. \u201cToday\u2019s reduction could ramp up December activity, especially in markets like Ontario and B.C., where lower downpayment requirements are set to take effect.\u201d<\/p>\n<h2>Suburban markets offer better opportunities: Coldwell Banker<\/h2>\n<p>Despite the generally optimistic outlook, some market watchers\u00a0remain cautious. Dean Artenosi, a real estate author and co-owner of Coldwell Banker The Real Estate Centre, advised buyers to consider suburban markets. \u201cOwning in major urban centres may not be feasible,\u201d he said, suggesting that suburban markets offer better opportunities for long-term investment.<\/p>\n<p data-async=\"\"><em>\u2022 Email: shcampbell@postmedia.com <\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Bank of Canada rate cut and what it means for the housing market<\/a><br \/>\n<br \/>2024-12-11 19:42:14<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Real Estate Move expected to provide significant relief to the real estate sector, easing borrowing costs and stimulating demand Published Dec 11, 2024 \u00a0\u2022\u00a0 4&#8230;<\/p>\n","protected":false},"author":2,"featured_media":53867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-53866","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=53866"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/53866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/53867"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=53866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=53866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=53866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}