The Bank of Canada is now five for the last five on lowering its overnight lending rate, and once again Canadian homeowners and potential buyers will be celebrating a “jumbo rate cut” just in time for the holidays.

Canada’s central bank lowered the policy interest rate 50 basis points on Wednesday, December 11, bringing the new rate to 3.25%. For those currently invested in real estate or those looking to enter the real estate market, falling interest rates help reduce barriers to getting a mortgage, can increase how much home you are able to afford, and reduces mortgage payments for those on variable terms. Read the full story here.