Leah Zlatkin quoted in Daily Hive Ubanized: ‘Bank of Canada holds key interest rate at 2.75% for a second time’

“Today’s variable mortgage rates—currently ranging from approximately 3.95 per cent to 4.4 per cent, depending on the term and mortgage product—may represent the low point in this rate cycle for some time,” she explained.

“Even if rates fall slightly, the real impact could be renewed buyer competition, which drives home prices up. We saw that exact pattern after the pandemic—rates dropped, and prices surged,” added Zlatkin. “If buyers wait too long, they could end up paying more for the same home, even if the rate is marginally lower.”