Courtesy of Eric Manherz

Eric’s Corner Top 2% of 18,000 agents in Canada

August, 2025

We are fast approaching the latter part of summer. The Bank of Canada did not change the “overnight” interest rate on July 30 (which was largely expected). Even the US Federal Reserve decided to keep their rate steady. Luckily, the changes due to the craziness started south of the border with the Tariffs. Unfortunately there’s another “deadline” for tomorrow, August 1, but that’s liable to change at any time – again.

The next date for a possible cut is September 3rd so maybe we’ll see a change then.

In the meantime, the market appears to be plodding along, although showings on listings have slowed a lot lately, especially for condos. It’s something that is fairly normal for the mid-to-late summer timeframe. (Although this year, and the last few years since covid have been less than usual!) On a better note, we recently checked out the “Tavern On The Island”! They have a huge deck, a wide variety of tables and chairs, they’re licensed, and they serve delicious burgers, salads and more along with the great water and skyline views. It’s on Bates Island, with access from about half way across the Island Park bridge .

Hope you enjoy the rest of your summer!