Hey Everyone,
This morning, I’m sitting in a chair watching the sun rise in a place that doesn’t really matter. What does matter is that it’s my wife and I’s first anniversary, and while it’s a little getaway, it’s also a working holiday. So please feel free to call or text. I may just need a bit longer to reply than normal.
Should I Buy Now or Wait?
A question I am asked daily, a seemingly relentless question at top of mind for everyone.
Even here, coffee in hand, my thoughts wander back home to what so many of you are wrestling with: Is now the time to buy, or is it smarter to wait and hope for lower rates or cheaper prices?
What’s Really Happening Right Now
Prices: Forecasts from banks and housing agencies suggest prices may soften a bit through late 2025 into 2026, especially in BC and Ontario. But we’re talking modest shifts, not dramatic drops.
Rates: Mortgage rates aren’t expected to plunge. Bond markets and the Bank of Canada have everyone guessing, but the consensus is that declines will be slow and uneven.
Supply: More listings are hitting the market, giving buyers a bit more choice than in the frenzy years.
On paper, it might look tempting to sit tight, wait another six months, and hope the perfect deal falls into your lap. But let’s look at the trade-offs.
The Cost of Waiting
Monthly payments may not budge much: Even if prices dip a little, if bond yields rise and rates hold steady, your payment might look almost identical to today’s.
Inventory moves fast: The home that checks your boxes today may not be around if you’re waiting for “just a bit lower.”
Life doesn’t pause: Family needs, job changes, or even just the desire for stability don’t align with the bond market’s calendar.
So, Buy or Wait?
The honest answer is, it depends on your situation. If you’re stretching to the absolute max, waiting may give you breathing room. But if the math already works for your budget and you’ve found a home that fits your life, waiting could cost you more in missed opportunity than you save on paper.
Here’s Where I Come In
Think of me as your safety net in the middle of all this noise. I can help you:
Lock in a rate hold today, so you’re protected if rates move up.
Review your renewal early, so you’re not left scrambling.
Run the numbers for different “what if” scenarios, so you feel confident in your decision.
Whether you’re three years into your mortgage, three months from renewal, or three weeks away from buying, let’s make sure you’re not stuck on the sidelines when the right place comes along.
Markets shift, bond yields jump, and headlines change every week. What doesn’t change is the value of being prepared. Let’s get your pre-approval or renewal review in motion today, you’ll thank yourself tomorrow.
Now if you’ll excuse me, there’s brunch spread calling my name.
Have a good week all,
-Andrew
Text me, right now! 250-919-5474
I don’t say this on a whim, I’m serious, if you text me now, I can show you exactly where you stand within a few hours. No stress, no pressure, no obligation.
Just a simple text that can put you at ease.