Market Update: Bank of Canada Holds Rate at 5%

Written By Dahan | Yassa Immobilier

In some very important news this week, the Bank of Canada has decided to hold their rates at 5% for a third consecutive meeting. Considering the turbulent changes we’ve witnessed in rates for the past year, this is some considerably good news.

What does this mean for current mortgage holders? Anyone who currently has a variable rate or a HELOC are well positioned now that inflation is moving in the right direction Furthermore, this could mean rate cuts at some point in 2024.

Does this mean buyers should be jumping into the market? In a word, yes. Experts are expecting 2024 to be an unpredictable year. Interest rate changes will depend on a variety of factors and can go up or down. Now that we’ve got a pause at 5%, this would be a good time to grab a property.

Worried you’ll miss possibly lower rates next year? A variable mortgage may be a good move for you to benefit from any potential rate drops.

But, don’t worry about all that. All you need to do is contact me, and I’ll make sure you’re in good hands.

Dahan | Yassa Immobilier

At Dahan | Yassa Immobilier, real estate isn’t just a transaction; it’s a tailored experience. Led by Eran Dahan and Jeremy Yassa, our team combines nearly two decades of high-performance sales with a relentless commitment to client success across Greater Montreal.

We are more than brokers. We are operators, strategists, and trusted advisors. We bring sharp market insight, creative deal-making, and a personal touch to every client journey. Our backgrounds in luxury sales and service excellence mean you get more than listings; you get access to exclusive partnerships, concierge amenities, and a handpicked network of top-tier professionals.

Eran’s reputation for redefining client care and Jeremy’s record-setting sales drive form the foundation of our approach: clarity, confidence, and control at every step. Whether you are buying, selling, or investing, we deliver results and an experience that is truly elevated.

Discover the difference with Dahan | Yassa Immobilier. Your goals. Our expertise.

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