May 2024 GTA Market Stats

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Inventory Climbs as Bank of Canada Cuts Key Interest Rate for First Time in Four Years

GTA Market Analysis – May 2024
The Bank of Canada’s much anticipated reduction of its key interest rate began today with a rate decrease of 25 basis points, bringing the new rate down to 4.75%.  While a minor change, it signals a shift from the Bank of Canada, kicking off an easing cycle that will deliver lower interest rates now that … more