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June 2024 Market Update

 

What the Bank of Canada rate cut means for mortgages, consumer loans and investments

The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75 per cent. Here's what it could mean for your finances.

What does it mean for consumers and prime rates?

The Bank of Canada's benchmark rate affects borrowing costs for banks, which means they're able, but not forced, to lower their own lending rates.

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Click the link below to view the monthly market statistics for your area in an easy to understand infographic. Listings, sales and prices are summarized for condos, townhomes and single-family homes in cities across BC. For more up-to-date market information please visit macrealty.com/blog.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Greater Victoria

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Okanagan

North Surrey

North Vancouver

Parksville / Qualicum

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

Saanich Peninsula

South Okanagan

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Vancouver Island

Victoria Core

Westshore

West Vancouver

Whistler

More than 40 fun and fantastic things to do in Vancouver in June

June has arrived, summer is just around the corner, and Metro Vancouver is filled with fantastic events to check out.

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B.C. Real Estate News

MACDONALD REALTY IN THE NEWS

If Bank of Canada interest rates are cut, it may shake up BC's housing scene (DailyHive)

LOWER MAINLAND

Inventory Continues To Outpace Sales In Greater Vancouver Real Estate Market (STOREYS)

"Surprise" softening of home sales in Metro Vancouver, but listings trend upwards (DailyHive)

West Vancouver council rejects provincial housing rules (North Shore News)

VICTORIA AND VANCOUVER ISLAND

Victoria sees increase in active listings (Business Examiner)

OKANAGAN

Housing prices falling, supply increasing across Okanagan (MSN / Global News)

BRITISH COLUMBIA

Spring inventory continues to build in the Fraser Valley to levels not seen in nearly five years (Financial Post)

Fraser Valley Real Estate Inventory At Highest Levels Since Before COVID (STOREYS)

CANADA

Bank of Canada cuts key interest rate to 4.75% (CBC News)

 
 

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