The BC economy has struggled to grow in the past two years, facing headwinds from high interest rates, falling commodity prices, and slowing household spending. However, the Bank of Canada’s aggressive tightening has helped to cool inflation significantly, and the Bank has begun easing by lowering its policy rate in both June and July earlier this year with further rate cuts expected.
This policy shift has positive implications for the BC housing market, which has been sluggish since 2022 as high borrowing costs and robust home prices have stretched affordability. BC home sales have trended...
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