BOC Delivers jumbo interest rate cut


As of December 2024, the average 30-year fixed mortgage rate in Canada is approximately 6.69%. The Bank of Canada recently cut its benchmark interest rate by 50 basis points to 3.25%, marking the fifth consecutive cut aimed at stimulating the economy amid sluggish growth

New mortgage rules effective December 15 will allow for lower down payments on homes valued up to $1.5 million, potentially increasing access for buyers

Variable mortgage rates are expected to decrease in response to this rate cut



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