Mortgage Blog
Canada's Mortgage Experts
Category: Mortgage (26 posts)
Mortgage Renewals in Early 2025 – Where Might Rates End Up?
May 4, 2025 | Posted by: Jay Heroux
A friendly guide for Canadian homeowners who are about to renegotiate one of the biggest contracts of their lives. Introduction - Why Everyone Is Talking About 2025 Renewals If your mortgage is co ...
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April 16 - 2025 - Bank of Canada holds policy rate at 2.75%
April 16, 2025 | Posted by: Jay Heroux
The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The major shift in direction of US trade policy a ...
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Tariffs and Their Effect on Interest Rates: What Canadian Homeowners Should Know
April 5, 2025 | Posted by: Jay Heroux
You might be surprised to learn how tariffs-taxes on imported goods-can affect your mortgage or home-buying plans. Tariffs can indirectly influence interest rates, which impacts mortgage payments and ...
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Pros & Cons of Paying Off Your Mortgage Before Retirement
March 21, 2025 | Posted by: Jay Heroux
If retirement is approaching, you may be considering whether it's wise to pay off your mortgage early. As with many significant financial decisions, there isn't a one-size-fits-all answer. However, ...
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March 12-2025 - Bank of Canada reduces policy rate by 25 basis points to 2.75%
March 12, 2025 | Posted by: Jay Heroux
The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The Canadian economy entered 2025 in a solid position, with infl ...
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Mortgage Renewal Coming UP and rates higher than 5 yrs ago - Consider increasing your amortization?
March 7, 2025 | Posted by: Jay Heroux
If your mortgage renewal date is approaching, it's important to take action. You might notice something that's hard to ignore: interest rates are significantly higher now than five years ago. You're n ...
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How will tariffs potentially affect Interest rates
February 26, 2025 | Posted by: Jay Heroux
As a mortgage broker in Canada, I often get questions about how global economic events might affect our financial landscape, particularly when it comes to interest rates and the cost of borrowing. One ...
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Is Now the Right Time to Refinance Your Mortgage?
February 5, 2025 | Posted by: Jay Heroux
With interest rates in Canada decreasing, many homeowners are considering whether this may be the ideal time to refinance. Refinancing involves replacing your current mortgage with a new one, idea ...
read moreBank of Canada reduces policy rate by 25 basis points to 3%, announces end of quantitative tightening
January 29, 2025 | Posted by: Jay Heroux
The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%. The Bank is also announcing its plan to complete the no ...
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Fixed-Rate vs. Adjustable-Rate Mortgages: Which Might Be Right for You?
January 21, 2025 | Posted by: Jay Heroux
Hello there, and welcome! As a mortgage broker here in Canada, I know that diving into the world of mortgages can feel like stepping into a labyrinth of numbers and jargon. Today, let's have a fri ...
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Government announces boldest mortgage reforms in decades to unlock homeownership for more Canadians
December 16, 2024 | Posted by: Jay Heroux
Canadians work hard to be able to afford a home. However, the high cost of mortgage payments is a barrier to homeownership, especially for Millennials and Gen Z. To help more Canadians, particularly ...
read moreDec 11-2024 - Bank of Canada reduces policy rate by 50 basis points to 3.25%
December 11, 2024 | Posted by: Jay Heroux
The Bank of Canada today reduced its target for the overnight rate to 3¼%, with the Bank Rate at 3¾% and the deposit rate at 3¼%. The Bank is continuing its policy of balance sheet no ...
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Unlocking Home Ownership: What Canadian Homebuyers Need to Know About Property Value
November 4, 2024 | Posted by: Jay Heroux
The Canadian dream of home ownership is evolving. With fluctuating property values and shifting market dynamics, understanding the real estate landscape is more crucial than ever for prospective hom ...
read moreOctober 23-2024: Bank of Canada reduces policy rate by 50 basis points to 3.75%
October 23, 2024 | Posted by: Jay Heroux
The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization. ...
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Is a Reverse Mortgage Right for You?
October 8, 2024 | Posted by: Jay Heroux
A reverse mortgage is a great financial tool for homeowners over 55 who want to stay in their homes while accessing the value they've built up over the years. It provides additional income, eliminates ...
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With Lower Interest Rates, Is Now a Good Time to Refinance My Mortgage?
September 6, 2024 | Posted by: Jay Heroux
With interest rates dropping, many homeowners ask the same question: Is now the right time to refinance my mortgage?* The simple answer? It could be! But as with most financial decisions, a few factor ...
read moreSept 4th, 2024 - Bank of Canada reduces policy rate by 25 basis points to 4.25%
September 4, 2024 | Posted by: Jay Heroux
The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. ...
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How Lower Interest Rates Could Benefit Canadian Homeowners: Is Now the Time to Refinance?
August 23, 2024 | Posted by: Jay Heroux
As a Canadian homeowner, you're probably hearing a lot of buzz about falling interest rates. You might be wondering, "Is this the right time to refinance my mortgage?" The short answer is, it could be ...
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What are Alternative Mortgage Lenders?
August 8, 2024 | Posted by: Jay Heroux
In the dynamic world of real estate, securing a mortgage can often be daunting, especially for individuals with unique financial situations. This is where alternative mortgage lenders come into play ...
read moreJuly 7, 2024 - Bank of Canada reduces policy rate by 25 basis points to 4.5%
July 24, 2024 | Posted by: Jay Heroux
The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. ...
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7 Things to Know When You Are Looking to Purchase a Cottage or Vacation Home
July 8, 2024 | Posted by: Jay Heroux
Purchasing a cottage or vacation home can be an exciting venture, offering a perfect getaway from the hustle and bustle of city life. However, it's essential to approach this purchase with careful con ...
read more7 Smart Strategies to Help Save Money on Your Mortgage
June 21, 2024 | Posted by: Jay Heroux
Hello, and welcome to our blog! If you're reading this, chances are you're looking for ways to make your mortgage more manageable. Whether you're a first-time homebuyer or a seasoned homeowner, findin ...
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How Lower Interest Rates Can Impact Your Mortgage: Insights for Canadians
June 7, 2024 | Posted by: Jay Heroux
The Bank of Canada recently made headlines by lowering its interest rates for the first time in over two years. This decision has significant implications for Canadians, particularly t ...
read moreJune 5 - 2024 - Bank of Canada reduces policy rate by 25 basis points
June 5, 2024 | Posted by: Jay Heroux
The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization. ...
read moreWhen to Consider a Private Mortgage: A Guide for Canadian Homebuyers
May 23, 2024 | Posted by: Jay Heroux
Navigating the world of Canadian mortgages can be scary, especially when traditional lenders, like banks and credit unions, close their doors. This is where private mortgages come into play. For ...
read more5 Great Ways to Improve Your Credit Score
May 8, 2024 | Posted by: Jay Heroux
As a mortgage professional, we often work with clients who are eager to improve their credit scores. A higher credit score not only increases your chances of getting approved for a mortgage bu ...
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