Bank of Canada Cuts Rates Again, Housing Market Remains Stagnant

Despite a third consecutive rate cut, experts say the impact on the housing market will be minimal in the short term.

The Bank of Canada lowered its benchmark interest rate to 4.25%, marking the third consecutive cut.
Real estate experts believe that the current rate cuts are insufficient to significantly boost housing market activity.
High home prices and debt levels continue to deter potential buyers despite lower borrowing costs.
Fixed-rate mortgage holders will not see immediate benefits until renewal, while variable-rate holders see slight relief.
Economists predict further rate cuts may be necessary to stimulate the housing market and broader economy.