Expected interest rate cuts in 2024 might be postponed for a time longer still. Inflation came in higher than expected today. This means the Bank of Canada is not likely to cut interest rates before June, now say many economists.
As much as mortgage rates are an important factor in purchasing power, it is highly recommended that prospective home buyers maintain a discipline towards adhering to traditional affordability guidelines to avoid overextending. This ensures long-term ownership sustainability and allows for overall financial balance and liquidity.