#MortgageRates

The Bank of Canada cut rates five times last year. The overnight rate dropped from 5% to 2.25%. By every surface-level reading, mortgage holders should be breathing easier. But if you locked a five-year fixed rate in 2021, your renewal letter this year tells a different story. Your new rate isn't 1.79% anymore. It's north of 4%. And the monthly payment shock is real — roughly 800,000...

If we sat down for coffee right now, I can guess the first three questions you’d ask me. I know this because every buyer I’ve met in the last three months asks them: "Will prices drop another 5% if I wait?" "Are interest rates going to crash back down soon?" "Should I just sit on the sidelines for another year?" These are valid questions. But here is the hard truth I’ve learned from...