On June 1, the Bank of Canada increased its prime interest rate by 0.5%, further impacting a real estate market that has been slowing down.

James and Denny provide an update on the interest rate hikes and predict what the summer will look like for those looking to buy or sell in Greater Vancouver.

This episode will cover how the real estate market is responding to increasing interest rates, the types of properties that will see the biggest decrease in sales, which areas of the lower mainland will hold their value, the effect on variable and fixed rates, and the benefits to homebuyers looking to upsize during this time.

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

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