Hey Everyone,
Waiting for lower prices, waiting for summer vacation to be over, waiting for school to start, waiting for thanksgiving to pass, waiting for McDavid to re-sign... waiting.
Everyone is always waiting, but what if I told you there's a way that you can hold the cards and protect your interests in a no-lose situation?
I've been watching clients sit on the sidelines for months, all eyes on October 29th when the Bank of Canada makes their next rate decision. Markets are split 55/45 on whether we'll see another 0.25% cut. But here's what's driving me crazy: while everyone's playing the guessing game, they're missing the strategy that eliminates the need to guess at all.
The Rate Hold Reality Check
Most people think locking in a rate means you're stuck with it. That's completely wrong.
When you lock in a mortgage rate today, you get 90-120 days of free protection. But here's the thing… if rates drop after you've locked in, you can still get the lower rate.
This "float down" isn't some secret broker trick, it's standard practice. Your broker monitors rates and automatically secures better ones if they become available, right up until closing.
Three Ways This Plays Out
Scenario 1: October 29th brings a rate cut
Your broker gets you the new lower rate
You win
Scenario 2: Bank of Canada holds steady
You're protected at today's rate
You didn't lose time waiting
Scenario 3: Rates surprise everyone and go up
You're locked in at the lower rate you secured
You saved money by acting early
You literally cannot lose.
What If My 120-Day Hold Expires?
The question I get asked most: "What if I still haven't found a house?"
Simple: You get a new rate hold at current rates.
But think about it, you've just spent 120 days actively house hunting with protection, versus 120 days sitting on the sidelines hoping. You're 120 days closer to finding your home with 120 days more market knowledge.
Plus, clients shopping with pre-approval and rate protection tend to find homes faster. There's something about that security that makes you a more confident, decisive buyer.
Why This Beats Waiting
While you're waiting for crystal ball clarity on October 29th, you're missing:
Prime fall inventory before winter
Less competition from other buyers also waiting
Negotiating power with sellers who know you're ready
Just like those retirees from Vancouver I mentioned last time, they're not waiting for Bank of Canada signals. They're getting pre-approved now and moving when they find the right property.
Your Move
Connor McDavid didn't wait for the "perfect" contract situation, he secured his contract while keeping his options open. Your mortgage strategy should work the same way.
Here's what smart buyers are doing:
Lock in your rate today - Free 120-day protection
Start house hunting immediately - Protected rate gives you confidence
Let your broker monitor October 29th - They'll get you any improvements automatically
Stop trying to time the Bank of Canada. Lock in your rate, start your search, and let the market work for you instead of against you.
Ready to stop waiting and start winning?
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.