How Did the Toronto Real Estate Market React to the Surprise Interest Rate Hike?

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How did the Toronto real estate market react to the surprise rate hike in June?
Our inflation has slowed to the lowest level in almost 2 years, does that mean inflation is well under control now?
But everything still seems to be so expensive!
And most economists predict that the Bank of Canada is going to hike the interest rate again on July 12, taking the overnight rate to a new 22 year high.
What the heck is going on?
In this video, Dan is going to break down the discussion into 3 parts: the real estate market, the inflation rate and the interest rate.

[@graywilliams_77.]

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[@susannicky]

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[@susannicky]

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[@michaello1103]

Thanks for info. How come you are in HK agsin😄?

[@tommywong3147]

Seller Agents are working with the buyers to get deals through. It's much easier to convince seller to take less money than to convince the bank to lend more money ... This market is killing agents with this kind of volume. Most of the agent actually would wanna see it collapse to move the inventory

[@Carolinapetroska]

Downtown Toronto east close to 10% down ! No showing, no offer....

[@kurtr847]

Good insight on the bank calling you to convert to a fixed rate. Makes sense that they are doing that to make money in the medium term 🙂

[@Kadmos]

Those financial planners working at the banks are real smart people. Years of education at top schools like Humber or Seneca college. I better ask them which stocks to buy and what the world will be like in 5 years.

[@aofangce]

lighting is great, good content, go CondoWong go,

[@Carolinapetroska]

Inflation is much higher than 4% especially for the most important food and drinks.....more like 14% for food and basic products

[@trustmeiknow1]

Unless inflation is negative, or we see deflation in other words, prices for things will remain high, they just aren't going up as fast.

[@vert911]

we will be in deflation before 2024 at the current pace.

[@trustmeiknow1]

@@vert911 Hope so! Even then, it may take a lot of deflation to get things back to today's prices and we can say goodbye to the good old prices, inflation is the march of history. Can only be defeated through innovation.

[@fahadkhan436]

Prices going up is inflation. Central bank really doesn’t care about headline cpi. It’s more concerned with core cpi which is still elevated.

[@Calwinn]

Hope it’s the last hike

[@baseline6786]

Shouldn't even do this next hike there is no need. Inflation is dropping

[@ronl1633]

@@baseline6786 Have you been to the store for food or pay rent ,Inflation is nuts.

[@baseline6786]

@@ronl1633 rate increases are causing inflation. Food inflation is rising bc corporate greed.

[@ronl1633]

@@baseline6786 No government over spending and higher taxes money printing are causing everything to be high. Look at the price of shelter and food and gas basics are high with new tax heating this winter will be big $$$ . 6% is still cheap money, I think it's going to be 10% or 11% next year, The over leveraged will have choices to make could be epic!

[@misspetit]

They will raise it one more time because they need to send more money to Ukraine