Is the housing market set for a busy spring?

Still, while rates are not on the wane anytime soon, the fact that no further hikes look likely means consumer confidence toward the housing market is set to continue growing.

That’s both because buyers are now used to rates at their current levels, and looking ahead in expectation that rates will be lower later in the year, according to Laird.

“I’d say a lot of people are looking at this and saying, ‘OK, rates have been like this for a little while. I understand it. I can afford it at this level,’ and looking out they’re saying, ‘OK – I can afford it, or maybe it’s a slight stretch, but it seems like the trajectory is [towards] the current rates or lower.’”

Could that mean the housing market is set for strong activity in the months ahead, or will it take the first cut for homebuying to heat up even further?

“If people are assuming what [the Bank] will do and making the decisions based on that right now, we might just have a strong spring market period, because of that sentiment and expectation,” Laird said.

Houses for Sale Ottawa under $400 000

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