CATHY GRAHAM
Attention Postmaster: Time Sensitive Material
Sales Representative
416.722.7158 CathyGraham@Rogers.com www.HomesInMarklandWood.com www.CathyGraham.co
Markland Wood Real Estate Market Report | September 2021
100% CLUB / 200% CLUB / PLATINUM CLUB / CHAIRMAN’S CLUB
Each office independently owned and operated.
Published by REAL Marketing (RM) | www.REALMarketing4You.com | 604.841.1739 | © 2021
BANK OF CANADA MAKES INTEREST RATE ANNOUNCEMENT The Bank of Canada announced that it will continue to hold its key interest rate target at 0.25%, unchanged since March 2020 when a trio of rate cuts were implemented to boost the economy in light of the hard-hitting impacts of COVID-19. Today, the Bank slightly adjusted its outlook for the Canadian economy to six percent, down from its previous forecast of 6.5%. Interest rates are not expected to rise until the economy recovers further, likely toward the latter half of 2022. The Bank’s quantitative easing (QE) program has been adjusted to $2 billion per week. While the third wave of COVID-19 prompted slower economic growth in the second quarter of 2021, things are expected to pick up in the second half of the year thanks to continued progress on the vaccination front, coupled with easing restrictions. The Bank also noted that consumer behaviour will likely lead the economic recovery, as household spending returns closer to pre-pandemic levels. Meanwhile, the hot housing market is expected to ease somewhat from the record-high activity that has characterized the last 14 months.
Friends and Future Neighbours, 2021 is on track to be another record-setting year. With still historically low interest rates, an increase in homebuilding, strong demand, and low inventory, now is the time to sell! Call me today at 416.722.7158 for a free consultation.
Presented by Cathy Graham Your Markland Wood Real Estate Resource
Prepared Especially for Friends and Future Neighbours