REAL ESTATE NEWS: CANADA HOUSING MARKET recovers after decision to pause Rate hikes - ojermes.com

The Bank of Canada (BoC) recently made a decision that will have a major impact on the country's housing market. The key interest rate was left unchanged on March 8, which many are saying could signal the bottom of a housing correction and the beginning of recovery for the property market.

Experts had previously cited the BoC's aggressive interest rate hikes as driving the slowdown in the property market in many cities across Canada. However, the decision to keep rates steady was announced after a quarter percentage point increase at the end of January 2023, which caused some markets to fall.

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