Nothing will drive away winter's quieting effect on the housing market like a full half point cut in The Bank of Canada rate. If mortgage rates follow this will result in approximately a 5% reduction in your monthy principal and interest payment.

For first time buyers the trick will be to buy before a 5% rise in prices wipes out the advantage. And around here if prices increase, it usually happens in the more active spring market.
 
Move up buyers don't need to be as concerned because the value of their current property will usually move up with the market.