Leah Zlatkin quoted in the Toronto Star: ‘Toronto homebuyers get interest rate relief from Bank of Canada rate cut — but a hot spring real estate market isn’t certain’

Condo sellers are more motivated to sell and are open to negotiation, with some buyers securing properties below asking prices, said Leah Zlatkin, mortgage broker and COO of Mortgage Outlet.

“While it’s not a full-blown buyer’s market across the board, and desirable properties in prime locations still attract competition, buyers undoubtedly have more leverage now than they’ve had in years,” she added.

Today’s announcement also offers “good news” for current variable-rate holders as they’ll see an immediate decrease in their monthly payments, providing some relief amidst the rising cost of living, Zlatkin said.

“This also frees up some cash flow, which can be used for other financial goals, like paying down debt or increasing savings.”