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Podcast: The Real Estate Espresso Podcast
Episode: Bank of Canada Drops Interest Rates by 0.5%
Description: The Bank of Canada took a victory lap yesterday as they cut interest rates by 0.5%. This is the fourth consecutive rate cut since June. The rationale given was that inflation in September hit 1.6% down from 2.2% in August.Â
The fact is, Canada’s economy is extremely weak right now. The drop in rates is needed to maybe stimulate growth.Â
For real estate investors, the rise in interest rates over the past few years has created a glut of condo’s for sale in the market. About 25% of new condo’s appear in the rental market. These are typi...