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Stock impact report

Interest-rate cut won't motivate many buyers to wade into the slow housing market, experts say [Globe and Mail, The (Toronto, Canada)]

Equifax, Inc. (EFX) 
Last equifax, inc. earnings: 4/20 05:24 pm Check Earnings Report
US:NYSE Investor Relations: investor.equifax.com
But experts say they don't expect cheaper loans to motivate more prospective homebuyers to wade into the market. Although borrowing is becoming cheaper, mortgage rates are still more than double the cost of loans issued in 2020 and 2021 when their interest rates were well below 2 per cent. “The impact will be limited,” said Rebecca Oakes, Equifax Canada's vice-president of data and analytics. “Many borrowers who locked in at historically low rates are still renewing at significantly higher interest costs, which continues to strain household budgets.” On Wednesday, the central bank made its seventh consecutive interest-rate cut, bringing its benchmark rate down to 2.75 per cent from 3 per cent. But the escalating trade war has cast a pall over homebuying and pushed homebuyers back to the sidelines. “There is a lot of uncertainty. That has prompted households to take a wait-and-see approach,” said Samantha Villiard, a regional vice-president with Re/Max Canada real estate broker Show less Read more
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