The Bank of Canada just cut the overnight rate by a quarter percent, and that means if you’ve got a variable-rate mortgage, you’ll save about $14 per month for every $100,000 you owe — that’s around $84 a month on a typical $600,000 mortgage.

If you’re locked in, no change yet — but for first-time buyers or anyone thinking about getting into the market, this is your sign. The BC Real Estate Association says the market’s starting to rebound, and the Fraser Valley is shifting toward a more balanced, active market.

Plus, developers are getting competitive — I’ve seen cash-back incentives as high as $14,000 on new condo projects. Combine that with lower rates, and it’s a golden window to finally get off the fence and make your move.”