Fall Buyer Playbook

Wed October 7, 2026

Fall Buyer Playbook

Buying this fall? What a hold or a hike actually costs you.

The Bank of Canada meets October 28. The policy rate has been parked at 2.25% for seven decisions straight, and big bank prime is sitting at 4.45%. A hold keeps things where they are. A quarter point hike would push prime to around 4.70%.

So what is that really worth to a buyer? Here is the math, and the move that costs you nothing.

What a quarter point costs on a typical Halifax payment

Take the average HRM sale this year: $596,544. Put 20% down and mortgage $477,235 over 25 years.

On a variable rate at prime:

Hold at prime 4.45%: about $2,639 a month
Hike to prime 4.70%: about $2,707 a month

Difference: about $68 a month. Over five years, that is roughly $4,080. Rule of thumb: a quarter point costs about $14 a month for every $100k you borrow.

Not life changing. But not nothing either, especially on top of a fall purchase.

Lock today. Shop at your pace.

Here is the part buyers keep forgetting. A free rate hold locks today's rate for 90 to 120 days while you shop. No fee. No obligation. If rates drop while you are looking, you still get the lower one.

It is the closest thing to a free option in the mortgage world. If you are even thinking about buying this fall, a rate hold is step one. It costs nothing and protects you right through the October decision and beyond.

Fall market reality: well priced homes still move

Waiting for lower rates sounds smart until everyone does it at once.

Halifax is not waiting. Year to date through September: 3,671 homes sold, average sale price $596,544, sellers getting 98% of list, and the average home sells in 51.6 days.

Well priced homes still move fast. If rates drop and the fence sitters all jump in at the same time, you trade a slightly lower payment for more competition and higher prices.

Sometimes the smart play is buying while everyone else is waiting.

Your move before October 28

A hold on October 28 changes nothing. A hike costs you about $68 a month. Either way, a free rate hold today means you are covered both ways.

Talk to a REMAX NOVA agent before the decision. We will help you run your numbers, lock your rate, and get you shopping with confidence.

Payment examples are illustrative, based on a $477,235 mortgage at 25 years. Your actual payment depends on your down payment, rate, and terms. Talk to your mortgage professional for numbers specific to your situation.