The Bank of Canada cut its key interest rate by another 25 basis points on Wednesday, bringing it down to 4.25 per cent.
This move, the third consecutive reduction since June, signals to financial markets that inflation is steadily coming under control. Currently, inflation stands at an annual rate of 2.5%. This is well within the Bank’s target range of 1% to 3%. A significant drop from the 8.1% peak in June 2022.
In the video above we sat down with Michael Succurro, CEO of Fluent Capital Management and co-founder and president of Spark Financial Group. We discuss how this interest rate cut impacts home buying and mortgage rates, and how Canadians can best prepare for these changes in the financial landscape.
Check out previous conversations with Succurro about mortgage renewals, the new 30-year amortization plan and more.
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