Found 1 blog entry tagged as mortgage rates.

Bank of Canada Cuts Policy Rate to 3%: Implications for Edmonton Homebuyers and Sellers

On January 29, 2025, the Bank of Canada reduced its policy interest rate by 0.25%, bringing it down to 3%. This marks the sixth consecutive rate cut, aiming to stimulate economic activity.

Impact on Homebuyers in Edmonton

For those looking to purchase a home in Edmonton, this rate cut offers several advantages:

  • Lower Mortgage Rates: A reduced policy rate often leads to lower mortgage interest rates, making home loans more affordable.

  • Increased Purchasing Power: With decreased borrowing costs, buyers may qualify for higher loan amounts, expanding their options in the housing market.

  • Improved Affordability: Lower monthly payments can…

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