[cabotp]

I'm starting to wonder if interest rates will rise. With it looking like the US might be going back into a 2nd recession. Although it might still turn it self around. It might put a damper on the Canadian economy. Thus forcing the bank of Canada to hold off on any rate changes. The biggest thing to watch for is the inflation rate. If it starts rising expect a rate change soon. If the inflation stays low, then don't expect any rate change.

I've been lucky as I was able to blend my previous two mortages and get a 5 year term that was 1% lower than my previous 5 year term. When I was expecting to be paying the same rate or slightly higher.

As for the number of sales, there is no doubt that has dropped recently. I've seen houses sit far longer with a for sale sign than they would of a few years ago. But that doesn't necessarily mean house prices will drop. If the owner of the home decides to be stubborn and won't sell below a certain price. There is nothing any else can do about it. So if the majority of owners decide not to sell below a certain price. You could see a drop in sales. But no drop in price as the owners won't budge.