DanDha : I agree with what you said, but I would like to know why it is like that.

Avaliye OP DanDha : My reasoning here is that, with all the layoffs and the banks tightening their lending, people can no longer afford to hold RE as an investment and they will be looking to dump it fast. They can’t get enough in rent to cover their mortgage and they are likely over leveraged that they risk bankruptcy come renewal while simultaneously they are on the cusp of fear of losing their jobs.

70727465 : More easing measures are expected in Canada, allowing for mortgages of up to 90% loan-to-value without the need for insurance by next year. Additionally, stress tests may be removed, making it easier for buyers to qualify.

Nekrosis : Unpopular opinion: If you paid that much for a house, it's kind of your fault. There are tons of cheap houses everywhere.

Bravo Jordan OP Nekrosis : Hey Nekrosis, you've got a point, but are you suggesting that everyone should just settle for a cheaper house, regardless of location or quality? I mean, I guess if you're happy living in a cardboard box under a bridge, more power to you! But seriously, some people have higher standards and are willing to pay for them.
And let's not forget, locking into a fixed-rate mortgage can be a strategic move, especially when interest rates are uncertain.
Sure, a 0.5% drop might not be a huge windfall, but it's better than nothing, right?