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BOC's Interest Rate Pause Could Boost Housing Market

Location
Vancouver, Toronto, Calgary
Publish Date
2023/03/24

The BOC has decided to hold its policy rate at 4.50% after 8 consecutive rate increases, which will mostly affect mortgage holders. ARM holders, as well as those with a balance on a HELOC, will benefit from the decision as it provides relief and stability. Prospective buyers will have increased confidence in the central bank, which could boost the housing market. Fixed rates are expected to remain flat, and those who need a fixed rate in the coming months are advised to get pre-approved.

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