Mortgage Brokers in Abbotsford

Understanding the Bank of Canada’s Latest Rate Decision As of January 29, 2025 , the Bank of Canada (BoC) lowered its policy interest rate by 25 basis points to 3.00% , marking its sixth consecutive rate cut since mid-2024. This move is a strategic effort to stimulate economic activity amid slowing inflation and potential trade uncertainties stemming from U.S. tariff threats. For British Columbia’s real estate market, this latest decision has significant implications for homebuyers, investors, and mortgage holders . Whether you are planning to buy a home, renew a mortgage, or refinance an existing loan , understanding these changes will help you make the most of the current lending environment. How Lower Interest Rates Influence BC’s Housing Market British Columbia remains one of Canada’s most dynamic real estate markets , with cities like Vancouver, Surrey, and Abbotsford seeing continued demand. The latest BoC rate cut will impact the market in the following ways: 1. Lower Borrowi...

  Introduction The Bank of Canada’s latest interest rate cut is great news for homebuyers, homeowners, and real estate investors in British Columbia (BC) . With the central bank lowering its rate to 3.00% , major banks have reduced their prime lending rates from 5.45% to 5.2% , making mortgages more affordable. If you’re looking for the best mortgage rates in BC , this could be a great time to buy, refinance, or switch mortgage types . This blog will break down what the rate cut means for mortgage borrowers and how Sandhu & Sran Mortgages can help you secure the lowest rates. 📌 Quick Takeaways: ✔ Variable mortgage rates are dropping , reducing monthly payments. ✔ Fixed mortgage rates may also decrease , but inflation concerns remain. ✔ First-time homebuyers and investors can benefit from better affordability. ✔ Homeowners can save by refinancing while rates are low. 1. How the Bank of Canada Rate Cut Impacts Mortgages in BC The Bank of Canada’s 0.25% rate cut direct...