The Bank of Canada handed out an early holiday gift on December 11th with a much-anticipated 0.50% rate cut. If you have a variable-rate mortgage, you’re probably smiling as your rate just dipped. And if you’re in an adjustable-rate mortgage, your monthly payment joined the party.  But here’s the twist: on the very same day [...]

As expected, the Bank of Canada announced that they are cutting their overnight rate by another 0.50% this morning. As the standard movement is 0.25%, anything greater is considered an oversized move.  Just weeks ago, it seemed like a smaller 0.25% cut was on the horizon. However, given higher unemployment data released on Friday, it [...]

The prospect of lower mortgage rates always brings excitement, especially as the Bank of Canada has already reduced its rate by 1.25% this year. With additional cuts projected into 2025, the landscape appears favorable—yet not without complexity. Interestingly, fixed mortgage rates have recently moved in the opposite direction, rising by roughly 0.30% over the past [...]

Many clients tell us they’re waiting for the next Bank of Canada rate announcement before locking in a fixed mortgage rate. However, it’s important to understand that fixed rates don’t move in tandem with the Bank of Canada’s rate. In fact, they can sometimes move in the opposite direction. For example, while the Bank of [...]

Since 2018, anyone applying for a mortgage in Canada has been required to pass a mortgage “stress test.” This test ensures borrowers qualify at a higher interest rate than the rate their payment was based on, acting as a safety net if rates increase. While some have criticized the stress test, I’ve always supported it—especially [...]

If you locked in your mortgage during the latter half of 2023 or the first half of 2024, there’s an exciting opportunity to potentially save thousands of dollars by switching to a lower rate mid-term. Many of my clients have saved between $5,000 and $10,000 by making the move—and in some cases, even more.   [...]

It seems like just about everyone was following the US election last night. As I mentioned in last week’s blog, a Trump victory would likely trigger an increase in bond yields—and that’s precisely what happened. Bond yields spiked immediately following the election results, setting the stage for higher fixed mortgage rates. We have already seen [...]

Since October 2023, fixed mortgage rates have dropped by about 2.00%, creating a buzz among homeowners and buyers. Now, with predictions that the Bank of Canada may lower its rate by up to 1.75% by Q3 of next year… including another potential oversized cut on December 11th, excitement is high.  However, it’s possible if not [...]

The Bank of Canada has cut rates by 0.50%, a move that was widely anticipated. While there were some signals that they might take a more conservative approach, the drop in CPI inflation to 1.6% in September pushed the Bank to make this significant cut. The goal was to bring inflation down to 2%, which [...]

Everyone loves to speculate about mortgage rates, but predictions aren't facts. Lately, there has been a lot of talk about the Bank of Canada (BoC) cutting rate by 0.50% on October 23rd, as if it’s a done deal. But let’s be clear—while many are betting on this, it's still just a prediction. There's some evidence [...]