One of the biggest decisions homebuyers face is whether to go with a fixed or variable mortgage rate. It’s also one of the most common questions we get at PMT. The truth is, there’s no one-size-fits-all answer. Every client comes from a different financial situation, with different goals and risk tolerance. What works for your [...]
When Mike and Suzanne sat down to look at their finances, the mood was tense. Between raising two small children, juggling careers, and managing the costs of everyday life, their debt had quietly crept up over the years… and it was costing them a small fortune: Debt Type Balance Owing Interest Rate Monthly Payment Credit [...]
Thinking about buying a cottage? There’s nothing like escaping the city for weekends by the lake… campfires, tubing, wakeboarding, fishing, and family memories just steps from your door. Some of my fondest childhood moments were made at the cottage. But before you start your search, it’s important to understand how mortgage financing works for cottage [...]
After a streak of seven consecutive rate cuts, the Bank of Canada has hit the pause button… not once, but twice. With the next announcement set for July 30, the mortgage world patiently (or impatiently) awaits. Will the BoC resume its cuts? Will they pause for the third time in a row? Or are we [...]
Renewing your mortgage might seem simple. Your lender sends you a form, you sign and and send it back. That’s it, you’re done! We’re all busy and sometimes this seems like the right choice. After all, now it’s out of your hair and you don’t need to worry about it for another 3-5 years. But [...]
In its fourth scheduled announcement of 2025, the Bank of Canada (BoC) has held the overnight lending rate steady for the second time in a row. Many had expected this to be the meeting where rate cuts would resume following April’s pause. But those hopes were dashed after a stronger-than-expected inflation report from Statistics Canada [...]
It’s one of the most common and costly mistakes we see borrowers make: holding off on applying for a mortgage while chasing that elusive “lowest rate.” It seems smart on the surface—why rush when you can keep shopping around? But in today’s volatile rate environment, this strategy can backfire hard. Here’s the truth no one [...]
At first glance, April’s inflation data might seem like good news: CPI inflation dropped to 1.7%, down from 2.3% in March. That decline has been largely credited to the elimination of the carbon tax, which helped lower prices at the pump. Lower inflation sounds positive, but the real story is more complex, and unfortunately, not [...]
Spring is in the air… and so is confusion. While trees are budding and patios are filling up, mortgage rate predictions are bouncing around like a squirrel on espresso. Thanks (or no thanks) to Donald Trump’s ever-changing stance on tariffs—and just about everything else—economic forecasts are in constant flux. And when the U.S. sneezes, the [...]
Out of all available mortgage products, the 5-year fixed has historically been the most popular among mortgage borrowers. However, that changed roughly three years ago when 3-year fixed mortgage rates took the crown for the most popular mortgage product by a landslide. Why? Because rates were expected to drop, and locking into a shorter term [...]
