The Globe and Mail reports in its Friday edition that home sales in December and January bounced back from the lows of the latter part of 2023, with the number of newly listed properties also edging up. The Globe's Erica Alini writes, however, that with the volume of sales still well below the 10-year average, prices continue to decline in many markets. Would-be buyers are largely waiting for borrowing costs to drop lower, as several financial analysts forecast the Bank of Canada will not cut its trend-setting interest rate until June or later this summer. Some economists believe prices and competition will quickly heat up by then. For those who could afford to purchase a home at current rates, the dilemma is whether to prioritize prices or rates. One option is to choose a variable interest rate, which moves up or down following changes in the Bank of Canada's key rate. That is becoming an increasingly popular choice amid expectations of rate cuts over the next few months, according to a recent analysis by Scotiabank economist Farah Omran. Those who choose a variable rate should be comfortable with the risk that comes with it. That includes the possibility that the BOC will not cut rates as soon or as deeply as expected.