Hamilton Real Estate Update

Please don't hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you're just curious about what the house down the street sold for – it'd be great to hear from you!

Happy Valentine's Day! February 14, 2025

Bank of Canada Rate Update

Bank of Canada lowers its policy rate, noting uncertainty surrounding potential U.S. trade tariffs.

On Wednesday, January 29, 2025, the Bank of Canada reduced its target for the overnight lending rate 25 basis points from 3.25% to 3%.

The cut was widely expected by financial markets in the lead-up to the decision, marking the sixth rate reduction since the onset of the pandemic, bringing rates down 2% from where they stood in April 2024.

The Canadian economy has been picking up due to past interest rate cuts and increased activity in consumer spending.

Housing is expected to remain strong. However, business investment and the labour market were noted by the Bank as soft spots in the economic landscape.

The Bank forecasted Canadian Gross Domestic Product (GDP) growth of 1.8% in both 2025 and 2026 in its January 2025 Monetary Policy Report (MPR) but noted the effects of a trade war with the United States were impossible to predict and that these forecasts were provided as a baseline in the absence of any tariffs.

In its MPR the Bank specifically noted regarding housing that lower mortgage rates and recent mortgage rule changes would strengthen resale activity, while pent-up demand for housing would be supportive for new home construction.

However, growth in the supply of new homes in the short term would be constrained by land availability, zoning issues, and a shortage of skilled workers.

The Bank observed underlying inflation is now close to its target of 2% and that it will remain around this target over the next two years. Should a trade war emerge with Canada’s largest trading partner, the United States, the Bank noted “a protracted trade conflict would most likely lead to weaker GDP and higher prices in Canada.”

The Bank replaced its wording surrounding the need for further evaluation of rate reductions with a more stable overview, noting that its cumulative rate reductions have been substantial, but again reiterated the uncertainty surrounding potential tariffs from the U.S.

In its MPR the Bank stated, “in the face of a trade conflict, the response of monetary policy must balance the downward pressure on inflation from excess supply in the economy with the upward pressure on inflation from new tariffs on imports.”

The Bank of Canada will make its next scheduled interest rate announcement on March 12 and publish its full outlook for the economy and inflation in its next Monetary Policy Report on April 16.

725 Mud St. E. in Upper Stoney Creek!

Welcome to 725 Mud St. E! This charming bungalow offers 3 spacious bedrooms and 1 bathroom, with a fully finished basement that adds an additional 1150 sq. ft. of living space. The large backyard is an entertainer's dream, featuring multiple decks, a gazebo, an above-ground pool, and a private fire pit area. For those who love to tinker, the extra-large, detached garage/workshop is heated and perfect for any project. Enjoy the tranquility of country living, all while being just outside the city. Don’t miss this opportunity to make this peaceful retreat your new home!

12 Edgecroft Cres. - Sold in 2 Days!

Come Out & Support the Charity of Hope!

Make Your Move, For Pet’s Sake

The move to your new home doesn’t have to be ruff on your pets.

When you make a move, it’s important that your pets feel relaxed and content, as a calm pet will help make the transition easier for the whole family.

From packing to settling in, these tips will help ensure a smooth move for both you and your furry friends:

List It
When you’re calm and in control, your pets will feel less anxious, so prepare a detailed checklist to stay organized and minimize last-minute stress.

Doggie Bag
Pack a bag with a leash, food, toys, and poo bags so that you have everything you need when you arrive at your new home.

Old Habits
Try to maintain your pets' usual routine as much as possible before, during and after the move to help ease their anxiety.

Keep Calm
Have someone look after your pets on moving day. If that’s not an option, create a quiet space with a few toys to help keep them calm and relaxed.

Purrfect Place
Cats are particularly sensitive to change, so set up a dedicated room with some familiar items to help them gradually adjust to their new surroundings.

Vet the Vet
If you’re moving out of town, ask your vet for a referral. Make sure to also update your pet’s tags and microchips with your new contact details.

Once you’ve moved into your new home, make sure to give your pets lots of extra TLC to help calm their frayed nerves.

Finally, don’t forget to pet-proof your new home and do a thorough sweep to ensure there aren’t any hazardous pest control devices or other dangers left behind by the previous owners.

Moving is a big change, but with the right approach, your pets will feel right at home!

Bright Ideas for Blackouts

Being properly prepared will help you power through your next blackout.

Losing power for extended periods can be daunting, especially during harsh weather conditions. Here are a few bright ideas to help you prepare if you’re suddenly left in the dark:

Match Box
Put together a box with matches, candles, flashlights and batteries and store it in a central location.

Request Backup
Purchase a portable power supply that’s strong enough to charge your essential electronic devices.

Check Up
Check on residents in your community, especially if they’re elderly or living alone.

Keep Your Cool
Don't open your fridge or freezer unless it’s completely necessary so that the cold air doesn’t escape.

Flip the Switch
Turn off the thermostat and unplug electronics to prevent a sudden power surge when the power is restored.

Blackouts often catch us off guard because we take everyday essentials like light and heat for granted, but with the right precautions, there will be no need to panic.

Instead, you’ll be able to embrace the moment and spend some quality time with your family playing board games and telling stories beside the flickering glow of candlelight.

Happy Home Hunting

Nothing makes me happier than helping someone find the perfect home! If you’re thinking about relocating, reach out so that we can discuss your next move! 🏡 😄

P.S. Please let us know if you'd ever like a hand finding your dream home or even if you're just curious about what the house down the street sold for. We are always happy to help