Leah Zlatkin featured on CP24 “Here is what may be in store for Toronto’s housing market in 2024”

Leah Zlatkin, of LowestRates.ca, said that she expects homeowners will get a break on rates sooner than some are predicting.

“We see that there’s potentially either a soft recession happening right now or a recession looming in the coming year and because of that, I believe that the Bank of Canada is going to do whatever they can to help alleviate that pressure for people,” Zlatkin, who works as a licensed mortgage broker, said.

“As long as holiday spending stays in line and inflation doesn’t become rampant, I predict that earlier in the year, we’re going to start seeing cuts as long as the U.S. Fed holds or starts cutting themselves.”

While some will have to wait for rates to come down to qualify for a mortgage, Zlatkin said now may be the best time for well-qualified buyers to make a purchase.