Interest Rate Cuts Starting To Lift Toronto Home Sales

Interest rate cuts are starting to impact Toronto's housing market, with an increase in sales noted last month. TRREB President Jennifer Pearce indicated that borrowing costs are expected to decline further, leading to lower monthly mortgage payments and potentially accelerating sales. In July, there were 16,296 new listings, an 18.5% year-over-year increase, although sales and new listings slightly decreased compared to the previous month.