Leah Zlatkin quoted in the Toronto Star: ‘How the Bank of Canada’s interest rate cut will impact your mortgage and Toronto’s housing market’

Leah Zlatkin, licensed mortgage broker and COO of Mortgage Outlet, said the rate cut will not save variable-rate mortgage holders that much money.

“This being said, perception is almost everything in this world,” she said. When people hear the bank dropped rates they assume it means a big discount for everyone.

“So I do think it might heat up the market, despite the fact that it’s not really a big change.”

Her advice to buyers is the same she would give yesterday: find a good realtor and negotiate the price down.

“Buyers are in high demand,” she said.