Canadian Homebuyers Ready to Jump Back into the Market Following Interest Rate Hold | Gizella Nyulas

Gizella Nyulas

REALTOR® |Trusted Advisor | ABR, SRS

Canadian Homebuyers Ready to Jump Back into the Market Following Interest Rate Hold

Real Estate News
Mar 27, 2023

Image by: unsplash

According to a recent survey conducted by Maru/Blue and commissioned by Royal LePage, 62% of Canadian homebuyers who postponed their home purchase plans in the last year due to rising interest rates are ready to return to the market following the Bank of Canada's announcement to hold the overnight lending rate at 4.5%. The survey also found that 26% of those who delayed their plans due to rising interest rates will resume their search this spring, while 36% will wait for the central bank to maintain the current rate for several consecutive months. However, 25% of those who postponed their homebuying goals do not intend to resume their plans in the near future. Meanwhile, many homebuyers are opting for fixed-rate mortgages to shelter themselves from fluctuating interest rates.

Read the full article on: REAL ESTATE MAGAZINE

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