FOR SALE!

11 Virtue Street
A 3BR 1+1WC Victorian rowhouse in the heart of Roncesvalles

BANK OF CANADA DROPS INTEREST RATE

On June 5th, with monthly year-over-year inflation consistently below 3% for the past three months, Bank of Canada Governor Tiff Macklem announced a 25 basis point reduction in the Bank's policy rate, to 4.75%.

While we're a long way from the heady days when the Bank's rate was at its lowest level of 0.25%, the reduction will be helpful for those seeking to renew mortgages, and for first-time buyers, for whom affordability remains a significant concern.

This move will help local buyers absorb excess condo unit inventory, and is likely to bring more inventory to the freehold market.   By way of example, the relatively affordable rowhouse appearing on the left!