Interest Rates are Going Down - For Real!

Author: The Property Twins - Re/Max Real Estate Lethbridge | Sep 09, 2024 | Categories: Best of the Best Lethbridge , Buyers Market , Buying A Home , Buying A Property , First Time Homebuyers , Houses For Sale , Interest Rate Drop , Interest Rates , Lethbridge Homes , Lethbridge Real Estate , Lethbridge Real Estate Team , Lethbridge Realtor , New Builds , New Homes For Sale , Property For Sale , Real Estate Agency , Real Estate Agents , Real Estate For Sale , Real Estate Services , Realtor , Sellers Market , Selling A Home , Selling A Property , YQL homes , YQL Real Estate , YQL Realtor

Last week The Bank of Canada dropped their key interest rate down to 4.25%. This is the third rate cut we have seen since this June, after rates climbing or holding strong all the way from March 2020 - June 2024.

So what does this mean for the real estate market?!

For buyers, this might be the news you've been waiting for. However, if you've been waiting to buy, the time is now. When we see interest rates dip, more buyers jump in to the market, which means prices will go up. Good news for sellers! Inventory in Lethbridge remains low with 286 active listings on the market today. 234 of which are single family homes. Is now a good time to buy? Certainly. Is now a good time to sell? Definitely! You need a full time expert to help you navigate this changing market. We happen to have 4 of them on our team! Reach out today to hear how we can help you buy or sell your home. We'd love to help!

XOXO The Property Twins Team