Today, April 16, 2025, the Bank of Canada has announced that it is holding rates at 2.75%.
This announcement could signal an end to rate cuts, which have been cut seven consecutive times.
Condo buyers should consider locking in mortgage rates now before potential increases occur due to ongoing uncertainty in the financial markets.
Because of what we call “herd mentality”, it typically takes 1.5 weeks for the buyer market to react to rate announcements.
The best rates that we have seen so far:
3 year fixed at 4.14% (Increased from 4.09% in March 2025)
5 year variable at 4.25%
The next scheduled date for announcing the overnight rate target is June 4, 2025.
E: LDALINDA@DALINDA.NET • TEL: 416-725-7170
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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View all current and past Palace Place listings for sale here.
Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.
View all current and past Palace Place listings for sale here.