Following the announcement of the policy rate cut by the Bank of Canada, several brokers from Multi-Prêts Hypothèques were called upon to share their expertise.

Julie Lavigne appeared on a segment of the 6 p.m. news with Patrice Roy, noting that, as an owner of a rental property with a variable-rate mortgage, the rate cut still provides a modest financial benefit.

Similarly, on 98.5 FM Montreal, Véronique Caron spoke with Patrick Lagacé. She explained that owners of rental properties with variable-rate mortgages will generally see their payments decrease. This reduction could represent savings of approximately $35 on their mortgage payment. She also noted that some banks offer variable-rate mortgages with fixed payments, where the payment amount remains constant but the allocation between principal and interest is adjusted, allowing borrowers to pay down more principal over time.

Patrick Maheux was recently invited to the Radio-Canada Québec news bulletin. He highlighted that the rate cut could be advantageous for those anticipating further declines in rates in the coming months or years, who may opt for a variable rate with the intention of potentially converting to a fixed rate within one or two years.

He also appeared on TVA Nouvelles Québec at 5:30 p.m., alongside Julie Couture, where he discussed the broader impact of the rate cut. He explained that it leads to lower variable mortgage rates as well as reduced personal and home equity lines of credit. He noted that the prime rate has decreased from 7.20% to 6.95%, meaning that borrowers with discounts off prime also see their rates decrease accordingly—for example, from 6.20% to 5.95%. Regarding the choice between fixed and variable rates, he emphasized that it depends on each client’s situation and strongly recommended consulting a broker at Multi-Prêts Hypothèques for personalized advice.

Cathy Vachon appeared on NOOVO Québec, emphasizing that those hoping for a drop in property prices may be disappointed.

Finally, Jean-Sébastien Gilbert from Abitibi participated in a Radio-Canada “Ohdio” feature titled Ça vaut le détour. He discussed the impact of a 25-basis-point rate cut, noting that while it represents a modest monthly relief (about $40–$50 on a $300,000 mortgage), it signals the beginning of a broader monetary shift. He added that fixed five-year rates are already below 5%, suggesting that the worst of the financial pressure may be behind consumers.

Here are some article suggestions to deepen your understanding of interest rates:

It is strongly recommended that all homeowners regularly reassess their mortgage situation, especially during periods of interest rate fluctuations.

With their expertise, you can navigate the real estate market with confidence.

Do not hesitate to contact a mortgage broker at Multi-Prêts Hypothèques today for personalized advice and to choose the mortgage rate type best suited to your individual situation.

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