The Bank of Canada has decided to keep its key interest rate at 2.25%.

What does that mean in plain English? For now, borrowing costs aren't changing, which is good news for buyers who have been waiting for more stability.

The Bank is feeling a little more optimistic about the economy, but they're still keeping a close eye on inflation before making any future rate changes. While no one can predict exactly what will happen next, Wednesday's announcement gives buyers and sellers a bit more confidence as they plan their next move.

One thing I did want to note is that in the past two rate decisions, Macklem had warned that “consecutive” rate hikes might be needed if the Middle East conflict continues and higher energy prices feed into broader inflation. He dropped this language in Wednesday’s opening remarks, along with a warning that there may be a need to cut if the U.S. imposes major new trade restrictions.

You're Invited – Lunch & Learn!

I'd love for you to join us on Thursday, July 23 for a fun and informative Lunch & Learn at 10 AM followed by a lunch at 12 PM (ish!).

I'll be sharing:

• Pre-Approval Do's & Don'ts – how to avoid common mistakes and help your clients put their best foot forward.

Mary Mendoza Festejo - Financial Advisor - will also be presenting:

• Practical financial tips that can help your clients prepare for homeownership and strengthen their financial position.