In a highly anticipated move the Bank of Canada lowered their overnight lending interest rate to 1.25% this morning, the first interest rate cut since 2015.

Multiple Offers continue to dominate the housing market in Ottawa

Housing market seeing many instances of 'multiple offers' in this listing starved market

Recently released statistics by the Canadian Real Estate Association (CREA) show national home sales declined between December 2019 and January 2020.

Bill Morneau, Minister of Finance, has announced that the qualifying rate for the mortgage stress test will change effective April 6, 2020.

According to the latest data released by the Ottawa Real Estate Board (OREB), residential property sales decreased 4.5% from 817 in January 2019 to 780 last month.

Since the official launch of the federal program in September 2019, a mere 4% of the 3-year goal has been funded according to new data.

The central bank has opted once again to maintain the overnight lending interest rate at 1.75% this morning, a level it has maintained for over a year.

With another year coming to an end, Ottawa real estate continued it’s upward trend with 761 residential sales in December- up 15.3% from December 2018.

Home prices across the country are slated to rise 3.2% in 2020 with Ottawa, Montreal, and Toronto taking the lead.

According to the new data released from the Ottawa Real Estate Board (OREB), the Ottawa real estate market saw another stellar month of sales in November.

Bank of Canada once again holds rates steady in announcement made Wednesday morning.