Looking for a new home in Brampton, Calgary or Kitchener? Here's some news that may affect your search. The Bank of Canada has decided to leave its key overnight interest rate on hold at 4.50%, which could mean good things for the spring real estate market in all three cities. Plus, the Bank has raised its growth forecast for this year to 1.4% from 1.0% in January, which bodes well for the economy in general. However, if you're someone whose mortgage is coming up for renewal, it could be tough times ahead, as it generally takes 6-8 weeks to feel the impact of previous rate hikes. On the bright side, the Bank expects CPI inflation to fall quickly to around 3% in the middle of this year and then decline more gradually to the 2% target by the end of 2024. So, what do you think about these developments? Are you ready to start your search for your dream home in Brampton, Calgary or Kitchener, Oakville?
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