Why 2025 Might Be the Right Time to Prepare, Not Pause

The housing market has been anything but predictable over the past few years—and early 2025 is proving to be no exception.

Just as things began to stabilize in late 2024, national home sales took an unexpected dip. In February alone, sales dropped nearly 10% across the country, and in Toronto, that number was closer to 30%.

But here’s what many people are missing: the fundamentals of the market haven’t gotten worse. In fact, they’ve improved.

• Interest rates have come down significantly

• Inventory has increased

• Average home prices are softening

So, what’s holding buyers back?

In a word: uncertainty.

Concerns around tariffs, job stability, and broader economic shifts are causing many would-be buyers to hesitate—even though interest rates have finally reached levels that many had been waiting for. According to a 2024 BMO survey, 72% of aspiring homeowners said they would consider entering the market once the overnight rate hit 2.75%. That threshold has now been reached.

For Strategic Buyers, This Hesitation Creates Opportunity

With fewer buyers in the market, conditions are shifting. There’s less competition, more room to negotiate, and more motivated sellers. For smart buyers, this is a rare window to explore homeownership on more favourable terms.

But timing the market is never easy. Confidence can return quickly—and when it does, activity picks up fast. We saw it during the early stages of the pandemic: buyers who were prepared during the uncertainty were able to move quickly and secure great rates before prices surged in 2021.

What Should You Do Now?

Get pre-approved.

This doesn’t mean you need to buy tomorrow. But it does mean you’ll be ready when the right opportunity comes along.

Pre-approval allows you to:

• Know exactly what you can afford

• Lock in a rate while it’s still available

• Move quickly when the right property hits the market

Why Work With a Mortgage Broker for Your Pre-Approval?

A mortgage broker does more than compare rates—we look at your full financial picture and help you develop a mortgage strategy that aligns with your goals, not just today but over the long term.

Whether you’re planning to upgrade in a few years, invest in a rental, or pay down debt, we’ll structure your mortgage to support your future moves—not just your first one. This personalized, strategic advice is something a rate search engine or single lender can’t provide.

It’s also important to understand what a pre-approval actually is. Many clients believe it guarantees the lowest possible rate—but in reality, it’s more of a budgeting tool. A pre-approval helps you understand your price range and gives you a preliminary rate hold, but it’s not always the lowest rate available. When you have an actual purchase in place, that’s when lenders truly consider you a serious client—and that’s when we can access the best available options.

Think of it this way: a pre-approval sets your roadmap. Once you’re ready to drive, we make sure you're in the best possible vehicle.

Questions about your mortgage, or wondering how your current rate compares to what’s available today?

Ready to chat about your goals?Visit www.emilycallme.comEmily MiszkMortgage BrokerBRX MortgageFSRA #13463