Opening Statement
Stephen S. Poloz - Governor
Ottawa, Ontario
March 27, 2020

Good morning, and thank you for joining Senior Deputy Governor Wilkins and me to discuss today’s interest rate decision. Before turning to your questions, let me briefly summarize today’s announcements.

First, we have lowered our target for the overnight rate by 50 basis points to ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound, to provide support to the Canadian financial system and to the economy during the COVID-19 pandemic.

The government has announced decisive fiscal actions to defend Canadians and the economy from the damaging effects of COVID-19. These actions are designed to support individuals and businesses through this very difficult time, and to minimize any permanent damage to the structure of the More

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Spring Market Report 
Just a quick note to say hello and give you an update on the Spring Market. Since we moved the clocks ahead for daylight savings, one can't help but think about the coming of warmer weather and all the changes it will bring.
One of the more certain aspects of the Spring Market is the time of year we see a significant increase in the online activity of people searching for homes on our websites.  With the recent drop of 50 basis points to the BOC lending rate, Buyers are eager to get pre-qualified for a mortgage and excited to get out and find a home! We also see an increase in Sellers on our Real Estate websites looking at listings, trying to get a read on the market. We have the answers for you, all you need to do is call or text my direct line 904-409-9967.
Ben and I attended in early February the Durham Edition of TRREB’s 2020 Market Year in Review, Outlook & Economic Summit, which provided us with some great information. A key stat they indicated was that In the 2nd half of 2019, we started seeing stronger demand for housing as buyers who were on the sidelines due to the Stress Test adjusted their housing preferences. If you would like a digital copy of this report please call - text 905-409-9967 or email us at
We have seen the market rebound in January and February with a strong Seller's market for homes priced under 600K, which fuels more move-up buyers to the next price level, where we are seeing stronger sales and higher prices. This bodes well for those Sellers looking to make a move this spring. My advice to those Sellers: Take advantage of this early spring market while inventory is low and creating a Seller’s market in this price range. 
If you are thinking about selling your current home and buying a home or Investment property, 
Call Jim Stanton and Associates Today 905-409-9967 Direct Line

We have 25+ yrs of Experience representing Sellers and Buyers in the Durham Region and we're ready to go to work for you to obtain the highest return for your Home! 
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