• After The Cut: Unpacking the BoC's July 24 Rate Announcement with Guest Sean Humphries

  • Jul 25 2024
  • Length: 30 mins
  • Podcast

After The Cut: Unpacking the BoC's July 24 Rate Announcement with Guest Sean Humphries

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  • Summary

  • In today's episode of Building Wealth Brick by Brick I'm unpacking the BoC's July 24th rate announcement. Helping me is none other than award-winning mortgage expert Sean Humphries of Dominion Lending Centres.

    Key Points:

    • July 05 marks the first rate cut in 4 years
    • July 24 represents the 2nd cut in as many months - Brings overnight lending rate down to 4.5%
    • June market stats - Available Listings Up 67%
    • Average Sales Price Down slightly by 1.6% Year Over Year
    • Prices Stablizing
    • MOI - Months of Inventory Hovering Around 4% - Lots of Inventory
    • Fewer Buyers = Low Demand
    • 2 Rate Cuts Bring Another Shift
    • Inflation Down to 2.7% - Closer to the BoC target rate
    • Next Rate Announcement Sept 4th - Another Cut???

    We are heading in the right direction!

    Exclusive invitation -RSVP 👉🏼 Navigating Shifts - In-person Seminar July 31 2024 7pm in Etobicoke (Kipling/Dundas). Refreshments served and all attendees will receive an e-gift card after the event. You don't want to miss this.

    Helping you increase wealth through #realestate

    Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
    Social:
    https://linktr.ee/nicojamesbock
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