Bank of Canada reduces policy rate by 25 basis points: The time to buy at Palace Place, 1 Palace Pier Court is now!

(Updated)

As we had reported about the importance of today’s announcement, the Bank of Canada has dropped its rate by 0.25% as predicted.

While this drop is minor, it more importantly signals an end to the high rate uncertainty that had been experienced since the Bank of Canada began raising rates in March 2022. Buyers should take great comfort in this announcement.

This news bodes very well for Palace Place going forward and demonstrates that the time to buy is now as prices should increase as activity increases.

UPDATE:

In response, the banks have already followed with 5-year mortgage rates as low as 4.89%.

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.