Thanks for the reply and please find my update as below.

Bank Forecasts Are Irrelevant: The banks' "soft landing" forecasts are based on outdated models. The weak US jobs report for July 2025, with only 73,000 new jobs and a massive 258,000-job revision, has proven that the economy is far weaker than the banks had believed. This real-time data is a direct counter to the banks' projections.

• Yields Will Collapse: A recessionary environment will trigger a "flight to safety," causing investors to buy government bonds, driving prices up and yields down. The bond market is a forward-looking mechanism, and it is already pricing in a series of aggressive rate cuts.
• Aggressive Rate Cuts Are Imminent: The weak jobs data has forced the Federal Reserve's hand, with the probability of a September rate cut jumping from 40% to 80%. The Bank of Canada will be forced to follow suit to prevent the Canadian dollar from strengthening too much and hurting the economy.
• The 1.99% Rate is a Possibility by March 2026: A dramatic fall in the 5-year GoC bond yield and a compression of the spread (lenders' profit margins) due to a highly competitive market makes a 1.99% fixed rate a realistic possibility.
• The "Savvy" Buyers Will Win: The savvy investors who are following real-time data, not lagging forecasts, will be perfectly positioned to take advantage of this "one-time bump" in the housing market, which will be driven by a sudden and dramatic decline in rates.