Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada’s quarter-point cut to its key interest rate last month did not lead to a rush in demand.
The latest Royal LePage house price survey released on July 11, detailing market trends across Canada during the second quarter, said demand continues to outpace supply in the Prairies and Quebec, but Toronto and Vancouver saw slower-than-usual activity this spring.
