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According to a recent survey commissioned by Royal LePage and conducted by Maru/Blue, Canadian homebuyers are returning to the market following the Bank of Canada's decision to hold the overnight lending rate at 4.5 per cent. The survey found that 63 per cent of Canadians who delayed their home purchase plans over the past year did so due to rising interest rates, but now, with the hold on interest rates, 62 per cent of those who postponed their plans are ready to return to the market. The survey also found that 26 per cent of Canadians who delayed their home purchase plans over the last year due to rising interest rates will resume their search this spring, while 36 per cent say they plan to move forward with their buying intentions but will wait for the central bank to maintain the current rate for several consecutive months.

Read the full article on: REAL ESTATE MAGAZINE