Interest Rate Hike Will Slow Housing Over Summer

The Canadian economy has experienced a significant shift in monetary policy again this week as the Bank of Canada (BOC) raised its policy rate by 0.25% to 4.75% on June 7th. This move marks the largest cumulative interest rate hiking cycle since the 1980s, and there are indications that more rate hikes may be on the horizon. The current interest rates are now the highest they have been in 22 years, dating back to 2001. This week we are exploring the implications of these interest rate hikes, ...