Another rate cut… now what?

This week we saw another interest rate drop but it’s likely the last one for a while. Here’s what it means for buyers and sellers right now.

Yesterday the Bank of Canada announced a 0.25% rate cut, bringing the policy rate down to 2.25% – the lowest we’ve seen since mid-2022. It’s the second cut in a row, but the Bank has made it clear this may be the last one for a while. Inflation is hovering near target, and growth is slowing, so this move was more about keeping balance than sparking change.

For buyers, lower borrowing costs make a real difference on monthly payments, especially if you’re locking in soon. The small drop may also bring more buyers back into the market, which means slightly more competition heading into winter.

For first-time buyers, this is a moment to pay attention to. While prices haven’t shifted much, lower rates help stretch your budget a bit further. If you’ve been waiting for the right time to start planning, this is it. Getting pre-approved now could give you a head start before spring activity picks up.

For sellers, slightly lower rates often encourage movement – but not overnight. Buyers still care about value and presentation. Listings that are priced right and move-in ready will capture this renewed interest first. A great example is 94 Rollins Drive, a beautifully maintained home in Belleville that shows exactly what buyers are looking for right now: updated finishes, functional space and a price point suited for today’s market. View the full listing here.

In Belleville and Quinte West, this cut gives the market a small but steady boost, not necessarily a surge. The fundamentals still rule: price, presentation, and patience. This rate cut is a positive signal for buyers and a quiet confidence-builder for sellers. It’s not a market reset, but it’s a reminder that the tides are slowly shifting toward more balanced conditions.

Let’s get on a call and talk about your plans, whether you’re thinking about buying, selling, or just exploring options, so we can take action at a time that serves you best. My number is below, just call or text and we’ll get moving.

Ready when you are,

Sarah Fothergill

Sales Representative

Century 21 Lanthorn Real Estate Ltd. Brokerage

Direct: 613 315 9365 

Let’s Connect: @fothergill.realestate

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Originally sent to Mind the Market subscribers on October 30, 2025.