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Would-be homebuyers are in limbo and only the Bank of Canada can free them

Prospective homebuyers in Canada are waiting for the Bank of Canada to lower rates before purchasing. Lower rates are needed to pass the mortgage stress test and increase buying power. Despite concerns about recession and job losses, some buyers are entering the market. Predicting home prices is challenging, but factors like immigration, inflation, and supply-demand imbalances will likely impact the market.

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