(UPDATED)
Today, July 30, 2025, the Bank of Canada has announced that it is holding rates yet again at 2.75%.
While the BoC cites tariffs as the biggest driver of uncertainty, the August 1 deadline is approaching fast. Canada urgently needs a trade deal, but its greatest obstacle is its own inaction.
The strong performance in investment markets, driven by economic success in the US, fosters apathy, causing us to overlook government actions while we focus on the gains from our smaller investments, neglecting our largest asset—real estate—until it’s time to sell.
The announcement of a trade deal for Canada by the August 1 deadline could change the economy and the real estate market overnight by restoring confidence. This shift in perception is likely to drive a significant increase in home and condo prices. Now is the optimal time to buy real estate before the market heats up.
UPDATE:
“Let’s hope there is an agreement. Let’s hope there is a good agreement (by August 1).” – Tiff Macklem
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 4.20%
The next scheduled date for announcing the overnight rate target is September 17, 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.