Hey Everyone,
I know I’ve been saying for weeks that the rates are likely getting close to the bottom, well, yesterday’s announcement all but secures that. Their words, not mine.
Here’s what we know:
The BoC held at 2.25%, and Governor Macklem confirmed it's "about the right level." This isn't ambiguous. This is the central bank saying we're done. No more drops coming.
Unemployment is down and economic growth surprised to the upside. When the economy is performing, central banks don't cut rates. The economy is stronger than expected, which means rates stay put.
Every major bank economist now agrees: the next move is a hike, not a cut, likely in the second half of 2026. CIBC expects rates to hold through all of 2026. Scotiabank and the C.D. Howe Institute see no cuts, possibly hikes. This is consensus. Read that again, possibly hikes.
The rate-watching era that paralyzed buyers all year just ended. The "maybe it will drop another 25 basis points" hope that kept you sidelined? It's gone. And that hope was costing you real opportunity.
Spring inventory is already building. Smart sellers list before the rush. The homes that will be available in March and April are being prepped for listing now. You're competing against patient buyers in December. In spring, you're competing against everyone.
The Rate-Watching Period is Over
Since early 2024, homebuyers have been in a holding pattern. Every rate cut fed the hope that the next one would be bigger. Last spring looked promising. Summer felt like the turning point. Then the cuts kept coming, four times in 2025 alone, feeding this belief that if you waited just a little longer, maybe rates would drop another 25 basis points.
That's done now. Governor Macklem was clear: the current rate is "about the right level." That's not code for "we might cut again." That's central banker speak for "we're staying here."
The consensus is clear, this is the bottom. There's nowhere lower to go.
What This Means for Your Buying Decision
For months, I've heard it: "I'm waiting for rates to drop more before I buy." Smart people. Cautious people. People who have been watching the data carefully.
Not sure that’s a thing anymore.
If you've been sitting on the sidelines hoping for sub-2.25% rates, you need to rethink that. The Bank of Canada isn't going lower. Mortgage rates won't magically improve. In fact, some lenders are already adjusting terms as bond yields shift. The deals aren't getting better, they're getting worse.
Meanwhile, inventory is tightening. Come January and especially February, the spring rush begins. Fewer homes on the market. More buyers competing. Faster bidding wars.
Right now, in December, you have something precious: time and selection. You have agents with capacity. You have sellers who might be more motivated. That advantage disappears fast.
A New House Under the Tree Isn't Just a Saying
Here's what I want you to think about: right now, a home that works for you is sitting somewhere on the market. If you start the process this week, getting pre-approved, locking in a rate hold for 120 days, beginning your search, you could have an offer accepted before the holidays.
Imagine closing on your home before the spring rush even starts. Imagine having the moving chaos behind you when market madness peaks in March and April. Imagine telling your friends in January that you already found your place because you moved when others were waiting.
That's not a crazy idea. That's just being strategic with timing.
Here’s your play:
Stop rate-watching.
Start house-hunting.
Call me and get pre-approved.
The stability is here. Rates won't drop. The time to act is when everyone's still asking "should I wait?"
The answer is no.
This could be the year your house sits under the tree.
-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.