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Increasing Interest Rates: What Does It Mean For Investors in Real Estate?
Currently, the real estate market in Canada is experiencing a significant shift. One of the biggest reasons behind it is increasing interest rates. In July, the bank of Canada raised its lending rate a full percentage point. Due to this, Canadian banks also hiked their lending rate to 4.7%, which is the highest it has been for over a decade. Still, there is no need to panic. Like every change, also increasing interest rates has its advantages. As long as you are strategic about your investments, there is no need to worry.