Today the Bank of Canada raised it’s key interest rate from 1.25% to 1.5%. In response, all 6 of Canada’s big banks have announced they will raise their prime lending rate to 3.7%. Prime Lending Rate Trend source: tradingeconomics.com
Who’s the number one real estate brokerage in the Great Toronto Area? We are! Super proud to be a part of this organization.
The Toronto Real Estate Board has reported a 22-per-cent drop in the number of homes sold in GTA in May 2018 compared to May 2017 and a 26-per-cent decline in new listings of homes for sale, both statistic suggestive that consumers are still on the sidelines waiting for evidence of recovery in the GTA market….