The Bank of Canada just lowered its key interest rate to 2.25%, marking the second cut in a row — and for anyone thinking about buying or refinancing, this could be a golden window of opportunity. Let’s break it down.

💡 What This Means for You

The central bank’s move makes borrowing slightly cheaper, especially for variable-rate mortgages and anyone renewing soon. It’s not a massive overnight drop in payments, but it does signal a more supportive lending environment.

If you’re buying:

• Lower rates can stretch your affordability just a bit further.

• A pre-approval now locks in a lower rate if things rise again.

• Victoria’s market is still steady, so being prepared helps you act fast when the right home appears.

If you’re refinancing:

• Your variable-rate mortgage may see a small payment dip.

• Fixed-rate borrowers can explore new terms when their mortgage renews.

• It’s worth reviewing break-even numbers with a trusted broker to see if a refinance saves you money.

🌊 Why It Matters in Victoria

Our market moves differently from the rest of the country — limited supply, coastal charm, and lifestyle demand keep things balanced. A rate cut doesn’t mean “cheap housing,” but it does mean a little more breathing room and opportunity for smart, strategic buyers and sellers.

Now is a great time to:

• Review your budget and ideal monthly payment

• Get pre-approved to stay ready

• Talk strategy with your REALTOR® and mortgage advisor team

💬 Let’s Chat

Whether you’re planning to buy, sell, or refinance, I’m here to guide you with the local insight, strategy, and heart it takes to make your next move confidently. And if you need a recommendation for trusted mortgage brokers who can help make sense of your financial options, I’m happy to connect you with them. 

📞 Let’s connect today — YourVanIsleHome.com
Because finding your home (and your people) in Victoria starts with a conversation.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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If you’ve been sitting on the sidelines waiting for the right time to buy a home in Victoria, this summer might be your chance.

While spring often steals the spotlight, summer brings quieter conditions, solid selection, and the chance to move at your own pace—especially in a year where market activity is steady but not frantic.

Here’s why buyers have more breathing room right now—and how to make the most of it.

1. More Inventory, Less Pressure

The Victoria Real Estate Board reported over 3,700 active listings at the end of July—a 10% increase from this time last year. This means you have more homes to choose from and, in many cases, more time to explore your options.

While spring was fast-paced with multiple offers on hot properties, summer brings a bit more balance. You may still encounter competition on well-priced listings, but you’re also less likely to be rushed into a decision.

2. Pricing Is Predictable—And That’s a Good Thing

In July, the benchmark price for a single-family home in the Victoria Core was $1,338,800, up 3.3% from last year. Condo prices, meanwhile, dipped slightly to $563,300, which could mean great entry points for first-time buyers or investors.

Flat or slowly rising prices mean you can shop with more confidence—knowing that you’re entering a stable market, rather than one that’s swinging up or down dramatically.

3. Life Is Just Easier in the Summer

If you're relocating, upsizing, or timing a move around school schedules, summer offers practical benefits:

• More daylight = better viewing times

• Easier to coordinate movers or renovations

• Kids can start school in September already settled

• You can actually enjoy the move without rain, mud, or winter blues

And hey—what better time to fall in love with a neighbourhood than when the Island is showing off its summer best?

4. You Can Still Shop Smart

Yes, the Bank of Canada held rates steady, and that’s good news—but be aware of credit card balances or debts that might affect your approval. We broke that down in this month’s Mortgage Minute blog.

Want to get pre-approved or check if your credit score is buyer-ready? I can connect you with trusted local mortgage pros who’ll give you a realistic picture before you fall in love with a listing. Just ask me.

Let’s Make It Happen Before Fall Frenzy Hits

Late August is a perfect window for serious buyers—inventory is strong, the market is balanced, and fall competition hasn’t ramped up yet. If you're thinking of buying this year, let’s start with a quick, no-pressure chat about what you’re looking for.

🏡 Click here to book a buyer consult or browse active listings now → search

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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