Whether a point is worth buying depends on how long you plan to keep the mortgage at that rate. Since Canadian mortgages typically run in 5-year terms with semi-annual compounding, a point only pays for itself if the monthly savings over that term exceed the upfront cost.
A mortgage broker can calculate your specific break-even point before you commit, factoring in your actual rate, term and amortization rather than a generic rule of thumb that may not fit your loan.
Ask your broker for the break-even math before buying a point. Get your hand-reviewed valuation from Joel Dyck.