Half Of Sidelined Homebuyers Waiting For Interest Rate Cuts To Resume Their Purchase Plans

The increased cost of borrowing over the last two years has forced millions of Canadians to reconsider or readjust their plans to purchase a home.

Since the Bank of Canada began raising its key lending rate in March of 2022, more than a quarter of the country’s adult population (27%) has been active in the market, and more than half of them (56%) say they’ve been forced to postpone their property search as a result of rising interest rates, according to a recent Royal LePage survey, conducted by Leger.

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