Interest Rate Hikes Over?

The US Federal Reserve today held off on any interest rate changes. In fact, markets are pricing in a few rate CUTS in 2024.

See the story at BNN: 

U.S. Federal Reserve keeps key interest rate unchanged, foresees 3 cuts next year

This is a very important development that could have a big influence on the Metro Vancouver and Fraser Valley spring housing markets. If central banks confirm in early 2024 that no more interest rate hikes are planned and markets continue to suggest rate cuts in 2024, buyer confidence could quickly re-emerge.

Therefore, I think that prospective buyers that are willing and able to buy a home, have a very critical window of opportunity this winter, perhaps over the next 3 months or so, to score a deal in a currently quiet market.

Nobody can predict the future. But, falling interest rates, if they do begin to take shape, are generally positive in relation to homebuying sentiment.

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