Rising concerns about Canada plunging into a recession are deterring prospective homebuyers, according to a new report. The BMO survey examined how concerns about the economy have impacted prospective homebuyers' decisions. Two in five (38 per cent) Canadians are waiting for rates to drop to three per cent or lower before buying or refinancing a home. More than half (52 per cent) of prospective homebuyers would consider moving to a different province or country to afford to buy a home. According to the report, two-thirds (70 per cent) of Canadians feel confident in their financial situation.