Here’s what April Bowler at TD Canada Trust had to say about this month’s interest rates:
The season is upon us and I for one had a very busy November! The market was flooded with many new listings and the media started to take a turn as the month marched on with positive news from the inflation numbers and slowing economy! This is all good news when it comes to rates and there is hope that we have hit the peak of rate increases and can expect to now wait for the downward turn to come!
Next week is the last announcement slated for 2023 from the Bank of Canada and the widely anticipated continuing of rate hold seems likely based on the positive economic outlook! We expect things to remain slow in the first few months of 2024 but turn around for the Spring market!! You will notice from the rate update, that fixed rates did go down slightly! This was largely due to the bond yields, which I watch daily, and they have been slowly declining which is a good sign to expect even further declines.!! I anticipate January’s update to reflect even lower rates. A trend I hope to see continue throughout 2024!
