The Bank of Canada raised interest rates for the sixth time in a row today bringing the Overnight Rate to 3.75% and major banks followed bringing the Prime Rate to 5.95%

James and Denny talk about what these rate hikes have done to Vancouver real estate and compare the current situation to the housing market crash in 2008.

This episode will cover what is happening in the current market and what we can expect to see over the next couple of months, US vs Canadian dollar values, pros and cons of presales in a down market, the perfect time to upsize and predictions for the future.

Podcast Videos can be found on the Garbutt + Dumas Real Estate Team YouTube channel – https://www.youtube.com/channel/UCHK2L-KswYO93195yndFAmA

Email us at garbuttdumaspodcast@gmail.com

James Garbutt Instagram: https://www.instagram.com/jamesgarbutt Facebook: https://www.facebook.com/jamesgarbutt Website: https://jamesgarbutt.com

Denny Dumas Instagram: https://www.instagram.com/denny.dumas Facebook: https://www.facebook.com/denny.dumas.5 Website: https://www.dennydumas.com

Monica Harmse Instagram: https://www.instagram.com/monica_harmse Facebook: https://www.facebook.com/MoodyProperties.ca Website: https://moodyproperties.ca

Garbutt + Dumas Real Estate Instagram: https://www.instagram.com/garbuttdumas Facebook: https://www.facebook.com/GarbuttDumas Website: http://www.garbuttdumas.ca