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 [...]
Let’s face it—nobody wants to overpay for anything, especially not the biggest loan they’ll likely ever take on. And while getting the lowest mortgage rate seems like a no-brainer strategy to save money, it's not the whole picture. Mortgages aren’t just about numbers—they’re machines full of moving parts, and unfortunately, banks are the ones who [...]
After seven straight rate cuts, the Bank of Canada has finally tapped the brakes—at least for now. The overnight rate remains unchanged, keeping prime rate steady at 4.95%. If you’re thinking, “Wait… I thought rates were going to keep falling?”—you’re not alone. It’s easy to get lulled into a false sense of security in a [...]
Since the start of 2025, fixed mortgage rates have dropped by about 0.50%. Compared to the peak in October 2023, we’re down 2.50%. That’s not just a dip – it’s a nosedive. We haven’t seen rates this low since in more than three years. But before you pop the champagne… We need to talk about [...]
Fixed mortgage rates are easy to understand: one rate, one payment. If you take out a $500,000 mortgage at 3.99% over 25 years, your monthly payment is going to be the same no matter which lender you go with. Simple, right? Variable rates, though? That’s where things get murky. Two lenders could offer you the [...]
