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Canadians Flooding the Market After Bank of Canada Rate Cut - E38
This episode of The Flow delves into the Bank of Canada's decision to cut the overnight interest rate by a quarter percent on June 5th, 2024 to 4.75%, its first rate cut since 2020. Alex McFadyen focuses on the immediate and potential long-term impacts of this rate cut on the real estate market, mortgage consumers, and the broader economy. Key points include the effects on adjustable and fixed-rate mortgages, home equity lines of credit, and market activity. Alex also anticipates future movements in fixed interest rates, property prices, and housing demand based on this recent change. *****…
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