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September 24, 2024 | About That: Supersized Rate Cuts?
Danielle Park
The U.S. Federal Reserve slashed interest rates for the first time in four years, and in the same week, Canada’s inflation rate reached the Bank of Canada’s two percent target. Andrew Chang explains why this is prompting economists to predict more aggressive rate cuts are on the horizon. Here is a direct video link.
Canadian mortgage rates have already come down significantly from their peak last fall, yet home resales have flatlined.
With home prices off just 3.9% nationally, year over year, too-high asking prices remain the largest hurdle to affordability.
The weakening employment picture is set to be another negative over the next year, at least.
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Danielle Park September 24th, 2024
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