Leah Zlatkin quoted in InsideHalton.com: ‘Bank of Canada drops key interest rate for first time since March’

“A rate cut makes it easier to qualify for a variable-rate mortgage, and in a market like Toronto where prices remain inflated but have eased from previous highs, that can quickly heat things up,” said Leah Zlatkin, COO of Mortgage Outlet and licensed mortgage broker, in a press release. “We may see more buyers step off the sidelines, particularly first-time buyers who’ve been waiting for some relief.”

However, the flip side is that more demand for buyers could increase competition in the housing market, she added, which may “limit some of the negotiating power buyers have enjoyed in recent months.”