Canada's Economic Shift: Falling GDP, Immigration, and Interest Rates – What It Means for Housing

In a climate of economic turbulence, Canada’s economy is showing signs of a downturn that could significantly affect Vancouver’s real estate market. The Bank of Canada recently reduced its interest rate by 50 basis points, following weaker-than-expected inflation and a rise in business insolvencies. While these rate cuts may offer mortgage relief, they’re also weakening the Canadian dollar, which has hit a 20-year low against the U.S. dollar, potentially increasing imported inflation as ...