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BOC Interest Rate Cut Is NOT What You Think

The first BOC rate cut is here. But what does that really mean and how will it actually affect your ability to purchase a home in the Fraser Valley Real Estate market?

In this month's Surrey Report, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty provides some insight into how a rate cut of 25bps will affect the real estate market in Surrey and the Fraser Valley.

Benchmark Prices: (Surrey Combined) (+/- yoy):

Detached = $1,663,200 (+2.6%)
Townhomes = $887,300 (+2.1%)
Condos = $548,600 (-0.1%)

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