At the start of 2024, there was a lot of speculation in the real estate industry about the bank of Canada cutting its prime rate throughout the year. Indsutries spent a lot of time projecting the Bank of Canada's interest rate policy cuts throughout the year.
Andrew Hutchison from IndI Mortgages and I sat down to go through CIBC's head economist, Ben Tull, projections of the Bank of Canada interest rate cuts throughout the year, and to discuss the impact these potential cuts may have on Halifax's real estate market.
2024 ended with a bang with the Bank of Canada cutting its prime lending rate by 50 basis points in October 2024 and another 50 basis points in December 2024, making it a total of 1.75 basis points cut in 2024. Andrew's back to review the year in interest rate cuts, the impact on Halifax's real estate market, and our projections for further cuts in 2025.
Enjoy!
Jason Paul
902-220-7357
jason@infinityrealestategroup.ca
@jasonpaulhalifaxrealtor
Andrew Hutchison
902-240-7212
andrew@hutchisonmortgages.ca
