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The short of it: Thousands of Canadians are choosing to pay higher rates to buy before demand picks up. Are they financial visionaries?
Scotiabank Economists expected that winter homebuyers would try to snatch up homes at the lowest possible price – before expected rate cuts.
But they didn't expect it to happen this soon.
Wagering that rate cuts eventually lead to "an uptick in activity and prices" is a "reasonable bet on the part of buyers," wrote Farah Omran, Scotiabank Senior Economist, on Wednesday.
But is it?
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