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Historically Low Interest Rates Cut To New Historic Low Vancouver Real Estate Prices Drop Almost $100k In Value In Less Than A Year – Ellie Pourian  · Right now, the real estate market is dropping slowly in Montreal. On the south shore, per exemple, a house bought last year had a better value than at the same time this year. Getting 10-20% inflation per year is over.This latest rate cut – the first in 18 months – means the official cash rate is now sitting at the historically low level of 2.25 per cent. According to the Reserve Bank of Australia’s governor Glenn Stevens, there were a couple of reasons for the cash rate cut.

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