Bank of Canada Holds Policy Rate – March 8, 2023

March 8, 2023

Money & Mortgages

Bank of Canada maintains policy rate, continues quantitative tightening.

Variable mortgage rate holders breathed a sigh of relief today as the Bank of Canada held it’s policy rate at 4.5%. From the days of 1.0% in April 2022 it’s been a steep increase that has put pressure on families.

Today’s announcement is a breath of fresh air and signals positivity that should help would be buyers have more confidence to purchase a home.

Read the full press release here.

Thinking about buying or selling, let’s chat.

Julia Stauffer

Call or text: 604 837 5048