The Bank of Canada paused its streak of rate cuts in April, following seven consecutive rate cuts over the past year, holding the overnight rate at 2.75% It seems a lot of people have been overly optimistic that a further rate cut was in the cards for this April however, with market uncertainty here along […]
Rates are down, should I lock in my variable rate mortgage?

Here is a question I’ve been hearing a lot recently: “Is now the time to lock in my variable rate mortgage?” Well, there are a lot of variables to be considered when trying to answer this question and at the end of the day there is no one size fits all answer, however I will […]
Bank of Canada Cuts Again – How will this affect you and your mortgage?
On March 12th, the Bank of Canada lowered the overnight rate again, cutting its policy rate by another .25%, to 2.75%. If you have a variable-rate mortgage or a secured or unsecured line of credit, you should see a decrease in your effective interest rate shortly. How does this affect you? The majority of lenders […]
Another Look at Fixed, Variable and Adjustable Rate Mortgages

More than ever homeowners are researching mortgage options more actively and reach out to me for additional information and advice on a daily basis. With interest rates outside of client’s comfort levels combined with non-stop talk from friends, family, colleagues, on top of social media and the “news”, it is no wonder many are finding themselves […]
Bank of Canada January Rate Cut!
Donald Trump is on his way in, Justin Trudeau is on his way out. Inflation is Canada is currently below the target of 2%, while inflation in the U.S has been a more stubborn target. The American economy has been strong and all indicators appear that it will strengthen over the course of 2025. This […]
Fixed vs. Variable Rate Debate Favours “Clearer” Winner

Let’s talk about the age-old question of whether it is better to go with a fixed-rate mortgage or to roll the dice on a variable-rate mortgage. Some Background Historically, variable rate mortgage holders on average have come out ahead over their fixed rate holding neighbours. Whenever you look at long-term averages, there are always exceptions […]
New Affordability Changes Announced
The federal government has been under immense pressure from opposition parties to increase affordability, so to cap off 2024, they have announced several changes that came into effect on December 15th. The most notable changes involve high-ratio insurance mortgages, both of which will primarily affect first-time home buyers purchasing homes. Increase to Maximum Eligible Home […]
Fourth Consecutive Rate Cut This Year!

Good news! On October 23rd, the Bank of Canada reduced the overnight rate by one half percentage point, lowering it to 3.75%. This is a cumulative cut from the peak by 1.25%. This cut was the fourth consecutive one this year, and will bring much welcome relief to anyone holding a variable rate mortgage, or […]
New Government Program for Adding Rental Units

The federal government has announced a new mortgage program geared to assist homeowners in adding space to their existing homes to create additional self-contained living spaces, such as basement apartments, in-law suites or converted garages. Currently, any refinance, no matter the purpose, is maxed out at 80% loan to value ratio (LTV). That means you […]
Updates to CMHC Eligibility for First-Time Homebuyers

The federal government has announced two big updates to updates to CMHC eligibility for First-Time Homebuyers. Whether the changes are an effort to garner votes, or increase affordability is up for debate. THE FIRST UPDATE: INCREASE TO THE MAXIMUM VALUE Currently, CMHC-eligible insured or insurable mortgages are limited to home values of $1 million. The […]