Interest Rate Relief
Posted by Gillian Krol Personal Real Estate Corporation on
What the Bank of Canada’s October Rate Drop Means for the Okanagan Real Estate Market
It’s been a long time coming, but the latest news from the Bank of Canada brings a sigh of relief for many homeowners and buyers across the country. On October 29, 2025, the Bank of Canada lowered its overnight policy rate by 25 basis points, bringing it down to 2.25% (with the Bank Rate now at 2.50% and the deposit rate at 2.20%).
For the Okanagan real estate market, this decision comes at an important time. After months of higher borrowing costs and cautious buyer sentiment, a rate drop like this can shift momentum—making financing a little more accessible and confidence a little stronger.
Why This Rate Drop Matters
Lower rates directly affect both buyers…
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