January 29th, 2025
The Bank of Canada has officially reduced its policy rate by 25 basis points to 3% and announced an end to quantitative tightening. This move is expected to lower borrowing costs, potentially increasing activity in the housing market. But what does this mean for you as a buyer or seller in Windsor and Essex County?
What This Means for You:
✔ For Buyers – Lower rates can increase affordability, allowing you to secure a more favourable mortgage. This could mean higher purchasing power and the opportunity to lock in a better rate before the market reacts. If you’ve been considering a purchase, now is the time to get pre-approved and take advantage of improved affordability. This is your chance to lock in significant savings on your mortgage. On a $700,000 mortgage that could save you up to $8,400+ on a 5 year term. This change could mean keeping thousands in your pocket, whether you’re buying, refinancing, or renewing.
✔ For Sellers – With borrowing costs decreasing, buyer demand is likely to rise, which could create more competition and a stronger market for your home. If you’ve been waiting to sell, this may be an ideal window of opportunity.
✔ The Wildcard – While rate cuts may create momentum, rising inflation or economic instability—especially if U.S. tariffs trigger higher costs—could cause interest rates to climb again in the coming months. Staying informed is key.
Short-Term Moves to Consider:
🏡 Buyers: If you’ve been considering a purchase, now is the time to get pre-approved and take advantage of improved affordability.
📈 Sellers: If you’re on the fence about listing, increased buyer activity could help you sell at a strong price while conditions remain favourable.
The real estate landscape is always shifting, and making an informed decision now could position you well for the future. It’s important to discuss how this change impacts your plans with a Realtor that has experience you can trust, and create a strategy that works for your (future) goals.
📅 If you are thinking of buying or selling a home in Windsor and Essex County, or have questions about the real estate market in the Windsor-Essex region, reach out to The Dan Gemus Real Estate Team Ltd., Brokerage serving all of Windsor and Essex County to schedule a consultation here.
About The Dan Gemus Real Estate Team
The Dan Gemus Real Estate Team is a top trusted real estate team in Windsor and Essex County, ON, offering exceptional service and expertise in buying and selling homes. With a proven track record of success and deep roots in the community, our team is committed to helping clients achieve their real estate goals with integrity, professionalism, and a client-first approach. Whether you’re thinking of buying, selling, or investing, we’re here to guide you every step of the way. Tune in to The Dan Gemus Real Estate Show for expert insights and Windsor and Essex County market updates, and don’t forget to explore our exclusive VIP Perks Program, offering incredible discounts and benefits from local businesses. Discover how we can make your real estate journey exceptional at dangemus.com.
This blog is intended for informational purposes and not intended to solicit those under contract with another brokerage.
