What the Bank of Canada’s April 2025 Rate Hold Means for BC Real Estate

By Omeed Ghafori – Award-Winning REALTOR® | South Surrey & White Rock

On April 16, 2025, the Bank of Canada (BoC) announced it will maintain its key policy interest rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. While this may sound like just another economic update, for homeowners, buyers, and investors in South Surrey, White Rock, and across British Columbia, this decision carries real implications.

Let’s break down what this means for you — and what it could signal for the BC housing market moving forward.

? What Does a 2.75% Policy Rate Mean for Mortgage Holders?

A steady overnight lending rate often means stable variable mortgage rates. If you're renewing your mortgage or shopping for a new one in 2025, this hold offers a short-term window of predictability. But with tariffs rising and global markets facing volatility, that window could narrow quickly.

For buyers, this could be a great time to lock in a rate or explore pre-approvals, especially with inflation expectations and economic uncertainties swirling.

? Global Uncertainty & Trade Tensions: Why This Matters for BC Homeowners

The Bank of Canada’s decision was influenced by a major shift in US trade policy, creating global economic uncertainty. This unpredictability is affecting inflation, employment, and investment — all of which trickle down to the housing market.

Here’s what’s happening:

• Tariffs are slowing down economic growth

• Inflation expectations are rising

• Oil prices are falling, which impacts provincial revenues and overall economic sentiment

• Employment is dipping, especially in business and residential sectors

In short, consumer confidence is being tested, and homebuyer behaviour may shift in the coming months.

? Why Buyers and Sellers Should Pay Attention in South Surrey & White Rock

With weaker consumer confidence, buyers may become more cautious — and sellers may need to price homes more strategically. But this also presents opportunities:

• Buyers: Less competition and stable rates could be your edge

• Sellers: Accurate market evaluations and timing will be more crucial than ever

Want to know your home’s current market value vs. BC Assessment? Get a personalized home evaluation today →

? What Should Investors & Homeowners Do Now?

• Review your mortgage: Consider locking in if you're up for renewal

• Watch the bond market: Fixed rates often follow 5-year bond yields, which could move with more volatility

• Consult your REALTOR®: Navigating this kind of market calls for a local expert with deep understanding

? Let’s Stay Ahead Together

As your trusted South Surrey & White Rock real estate advisor, I’m here to help you stay informed, prepared, and empowered — whether you're buying, selling, or just staying put.

? Contact me, Omeed Ghafori, anytime to chat about how this rate hold (or future changes) could affect your real estate plans.

? Visit OmeedGhafori.com to browse listings, check pre-sales, or schedule a market consultation.