Interest Rates on Hold – What this means for our Local Market

The Bank of Canada maintained its overnight policy rate at 2.25% amid a broad-based economic recovery and rising inflation risks stemming from the Iran conflict and new tariffs.

While core inflation remains stable near the 2% target, improving domestic conditions and US inflation expectations suggest potential rate hikes to 2.75%, which is placing upward pressure on bond yields and Canadian fixed mortgage rates.

The broader Parksville–Qualicum benchmark for a single-family home sits at $929,500.

Homes are taking a median of 72 days on market for active stock. This indicates a patient, selective buyer pool that is price-driven and taking its time to evaluate options.

Please call or email if you would like more detailed information about your specific neighbourhood.
Karen Kenyon PREC*
E: karen@vidreamhomes.ca
P: 250 741 7517