Leah Zlatkin quoted in the BlogTo: ‘Bank of Canada lowers key interest rate in final major cut of the year’

“We’re seeing strong sales and rising home prices, but there’s also a sense of caution in the air with economic uncertainty and affordability concerns,” she shared in an email.

“It’s a dynamic market where both opportunity and risk are present. Ultimately, the decision to buy or wait hinges on your individual circumstances and how much risk you’re comfortable with.”

Zlatkin added that this new interest rate cut is “likely to intensify the situation.”

“With home prices already increasing and demand surging, those waiting for a cool down may find themselves priced out,” she explained. “Buyers need to carefully weigh the potential benefits of waiting against the risks of further price escalation and competition.”

Regardless of the uncertainties, the rate cut is good news for current variable rate mortgage holders, according to Zlatkin.

“They’ll see an immediate decrease in their monthly payments, providing some relief amidst the rising cost of living,” she said. “This also frees up some cash flow, which can be used for other financial goals, like paying down debt or increasing savings.”