Here’s some perspective: the Bank of Canada just dropped the overnight rate to 2.50%, and it has people talking affordability again. But let’s simplify things — with coffee.

The Latte Test

If you buy a $5 latte every day, that’s about $150/month. With the recent rate cut, the payment on a $400,000 mortgage just dropped by roughly the same amount. That means for some buyers, the difference between “not quite affordable” and “yes, we can make this work” just became reality.

Think about it — a single daily habit equals the shift we’re now seeing in monthly mortgage costs. It’s a small change with a huge impact.

Why This Matters

• First-time buyers → That little rate cut could be the key that gets you into the market sooner than expected.

• Investors → Lower borrowing costs improve cash flow, which strengthens long-term ROI.

• Downsizers → Making your next move becomes smoother, less stressful, and more budget-friendly.

And here’s the kicker — markets are emotional. When rates dip, more buyers feel confident jumping back in, which can boost demand again. That means today’s savings could also spark tomorrow’s competition.

The Takeaway

Real estate isn’t always about massive swings — often, it’s the small shifts that open big opportunities. Waiting for the “perfect market” can mean missing out on the little changes that add up over time. If you’ve been sitting on the fence, now’s the time to run the numbers and see if things make sense for you.

👉 If you now pass the Latte Test and want to purchase your first home, let’s meet up and make a plan — I promise the coffee is on me. ☕

https://calendly.com/simon-realtor/meeting

The coffee’s optional. The opportunity? Maybe not. 😉