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Originally Posted by craftbeerdad
Thank you SteelTown! Appreciate the gesture. Sounds like a promising build since they've nailed something that's bothered me, no boutique or more interesting builds downtown for residential. Not saying this will win any awards, but it's a start.
If they're going to start marketing Radio Arts before rates go up, they better hurry since the first increase is possibly coming in two weeks. Markets are pricing in at least five Bank of Canada (BoC) rate hikes this year. At the last meeting BoC officials indicated theyโre ready to begin raising rates early this year to quell pricing pressures (inflation) after keeping the key policy interest rate at a historic low of 0.25% since March 2020.
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Usually they raise rates on a quarterly basis. The first isn't likely to be until April. If they can sell the majority of the units in February and March, which seems possible in Hamilton's current market, they'll be fine.