Realty Check - the Bank of Canada says hold AGAIN From the founders: uncertain times, real opportunity We're living through an unusually uncertain time, which probably comes as no surprise to you. Buyers are hesitant, sellers are cautious, and the data reflects it. But when we step back from the noise, there's a longer story worth paying attention to. The traditional home buyer has always been a couple: two incomes, shared savings, a real shot at getting in. But that's shifting. More people are staying single longer, by choice or circumstance, changing demand in ways the market hasn't caught up to yet. At Ownright, less than 30% of our clients are solo buyers, and most still need family support to make it work. That gap will only widen. Right now, there's real opportunity for clients willing to move while others hesitate. Longer term, the question worth sitting with is who tomorrow's buyer actually is, and whether we're ready to serve them. Joel Fox COO Market snapshot: the bank says HOLD! For the third time in a row, the Bank of Canada held its policy rate, continuing its pause as policymakers weigh mixed signals from inflation, tension overseas, and the broader economy. This hold reflects uncertainty more than stability. The Bank is waiting to see how inflation, war, employment, and consumer spending evolve before making its next move. This BoC decision doesn't do anything to improve the uncertainty that buyers and sellers are feeling. Many buyers are continuing to watch rates closely before committing, while sellers are adjusting expectations in a slower market. Our take: The rate hold keeps the market in a wait-and-see phase, with confidence unlikely to return until more clarity emerges. The library: resources to help buyers with their first home purchase As markets slow down, buyers have the luxury of taking their time, and learning more before making the decision to own. Below is a list of free resources for those buying and financing for the first time. Blog: there’s finally a checklist on how to buy your first home. A step-by-step checklist that walks first-time buyers through the entire home buying process, from preparing finances and getting pre-approved to making an offer and closing on the property. Blog: fixed vs variable rate mortgage - which one is for me? A clear breakdown of how fixed and variable rate mortgages work, including the risks, benefits, and factors buyers should consider when choosing between them. Blog: first-time home buyer incentives in Ontario. An overview of the rebates, tax credits, and government programs available to first-time buyers in Ontario, and how they can reduce the overall cost of purchasing a home. Hot off the press: Ownright in the news Ownright continues to make waves in the media, weighing in on Canadian mortgage stress and the effects of AI in real estate marketing. Take a look! The Globe and Mail – AI-altered listings are misleading homebuyers. Ownright shared insight on how AI-enhanced listing photos are creating new challenges for buyers, highlighting the importance of due diligence and professional guidance when evaluating properties online. RENX Homes – The mortgage stress story Canadians weren’t warned about. Our COO, Joel Fox, wrote a featured article for RENX, highlighting the rising rate of delinquencies in mortgage payments as one million Canadians refinance their mortgage this year. Client spotlight: refinancing to support a family dream After retiring, Susan Krimmel and her husband began planning something special with their adult children: investing in a property in the Rocky Mountains of British Columbia. To help fund the project, they decided to refinance their Toronto home. The refinance also allowed them to consolidate existing debts and lower their overall monthly costs. Refinances in the past with other lawyers felt stressful, transactional, and lacked respect. This time, they were looking for a process that felt simpler and more supportive. After contacting Ownright, they received a same-day response outlining the steps and costs. Even though they described themselves as “not particularly tech savvy,” they found the digital process easy to follow and appreciated not needing to visit a law office in person. When they ran into trouble uploading identification photos, a member of the Ownright team patiently walked them through the process over the phone until everything was complete. There was no judgement, only support and respect. The process was simple, and when we needed help, the team was incredibly patient and professional. K The Krimmels Ownright clients The Ownright advantage Have a client in need of a real estate lawyer? We'd love to support them. Refer a client now About Us Contact Us Privacy Policy Ownright Inc. 545 King Street West, Toronto, ON M5V 1M1