Bank of Canada Announcement - March 12th, 2025
Posted by Ryan Lefebvre on
The Bank of Canada has just announced a 0.25% decrease to its policy interest rate, bringing relief to borrowers across the country. But what does this mean for you if you’re looking to buy or sell a home in Canmore? Let’s break it down in simple terms.
How This Rate Drop Affects You
- Lower Borrowing Costs – If you have a variable-rate mortgage or a home equity line of credit (HELOC), your interest rate will decrease, meaning lower monthly payments.
- Fixed Mortgage Rates Remain Unchanged (For Now) – If you’re locked into a fixed-rate mortgage, this change does not impact your current rate. However, future fixed rates are influenced by bond yields, which may shift due to this rate drop.
- Increased Buying Power – Lower interest rates mean lower…
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