legacy realty

BoC Suggests Return to Economic Growth

The Bank of Canada has only maintained the overnight rate target at 1.75%, but suggested that there is “…accumulating evidence that the slowdown in late 2018 and early 2019 is being followed by a pickup starting in the second quarter.”  Although this projection is contrary to current investor behaviour that strongly suggests they believe there will be a decrease to the interest rate within a year’s time.  Specifically, in Hamilton, economic pickup occurred in the residential real estate market as the month of May recorded the highest average price YTD at $550,000.

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