As interest rates trend down, could housing get more affordable? – CTV News

As interest rates decline, there is potential for housing to become more affordable. This trend could benefit potential homebuyers by reducing their monthly mortgage payments. Lower interest rates mean lower borrowing costs, making it more feasible for people to purchase a home. This could also stimulate the housing market, as more individuals may be inclined to invest in property. However, it is important to consider other factors that influence housing affordability, such as property prices and income levels. Ultimately, while declining interest rates may contribute to increased affordability, it is just one piece of the puzzle in the complex housing market.