72% of Canadian homebuyers wait for rate cuts to buy, BMO's Index shows cost-of-living concerns rising, with potential rate cut in June-July 2024.
72% of aspiring Canadian homeowners are waiting for rate cuts before buying; 4% increase from 2023. BMO's Real Financial Progress Index reveals concerns about cost of living, inflation, and financial situation have risen over the past three months. Homebuyers may need to wait longer for affordability relief as the Bank of Canada left interest rates unchanged in April, but a potential rate cut by June or July 2024 is on the horizon.
April 29, 2024
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