Understanding the Bank of Canada’s Interest Rate Decision

by on January 31, 2025 with No Comments

The Bank of Canada (BoC) has lowered its key interest rate by a quarter of a percentage point to 3%. This marks the sixth consecutive cut since June, bringing the benchmark rate down by a total of 200 basis points from its peak of 5% in July 2023.

James and Denny share what they see in today’s real estate market and how these rate cuts affect everyday sales.

This episode will focus on the BoC’s most recent rate cut, predictions for future cuts, effects on the real estate market, 5-year fixed vs variable rate comparisons, home sales volume increasing, certain housing products will keep struggling, upcoming federal election, new policy changes, and predictions for 2025.

Podcast Videos can be found on the Garbutt + Dumas Real Estate Team YouTube channel

Email us at garbuttdumaspodcast@gmail.com

James Garbutt james@gdrealestate.ca Instagram: /jamesgarbutt Facebook: /jamesgarbutt

Denny Dumas denny@gdrealestate.ca Instagram: /denny.dumas Facebook: /denny.dumas.5

Garbutt + Dumas Real Estate Instagram: /gdrealestateteam Facebook: /gdrealestateteam Website: garbuttdumas.ca

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Build your dream home in Deep Cove! 🏡🐟🦀🐚

(Swipe right for renderings of what was going to be our dream home on this property)

4605 Wickenden Rd, North Vancouver

Rare opportunity to build on a prime location, a Deep Cove cul-de-sac across the street from the beach! Live the Deep Cove lifestyle in a very quiet location, enjoy the peace and tranquility that comes being close to the ocean and backing onto a forest. 9709 sf lot, private South exposed back yard and access to park/playgrounds, backs onto Myrtle Park forest, walking distance to Cove Cliff Elementary and Seycove Secondary. Steps to waterfront Strathcona Park beach! Bring your kayaks and paddle boards, garage to water in less than 1 minute! Building plans available for 4600sf home. Please call before walking the property.

$1,899,000

It was a tight race to the finish line at @steelan

SUB-PENTHOUSE COMING SOON 🔥😍 2101 4488 June

SUB-PENTHOUSE COMING SOON🔥 2101 4488 Juneau St

Self promotion coming in hot 🔥. Our @gdrealesta

Sunday stroll through Queen’s Park. Talking abou

413 Fourth St, New Westminster - Coming in hot! 🔥🏠

5 Bed | 3 Bath | 2669 SF
$1,899,000

Situated in New Westminster’s desirable Queen’s Park neighbourhood, this 1895 character home has undergone many updates over the years, yet retains a distinctive historical flair and quality traditional craftsmanship no longer seen in modern builds. With 3 bedrooms on the top floor (5 in total) and 3 bathrooms, this functional plan measures 2,669 sq ft of total living space. The main floor includes a spacious kitchen and bright solarium, with double French doors opening up to a large wrap-around patio and landscaped private garden of over 4,000 sq ft, great for entertaining and social functions. This zoning area is also eligible for laneway home application in the backyard for extra income generation. Zoning allows laneway houses.

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