Why Chasing the Lowest Mortgage Rate Isn’t Always the Best Strategy When most people think about getting a mortgage, their first instinct is to chase the lowest interest rate they can find. It is understandable. Rates are highlighted in ads, shared in headlines, and easy to compare at a glance. But here is the truth […]
Blog
Potential Penalty Differences – Bank/Non Bank
IRD penalties at banks can cost you thousands! Non all mortgages are created equal and this is one massive example to this. This example has all the same information inputted on all their online calculators, which are on the internet. I started out with a mortgage amount of $450k and exactly 3 years in to […]
Trigger rates and trigger points
“trigger rates” and “trigger points”….something you will be hearing of with more changes in the Bank of Canada rate. Let’s start with a few definitions: NOW, WHICH MORTGAGES WILL BE AFFECTED FIRST?Quick answer, VRMs from March 2020 to March 2022. During the month of March 2020, the prime rate dropped three times in quick succession from […]
Bona-Fide Sales Only Clauses
Imagine spending hours of your life to: I’ve seen this happen on more than one occasion and it’s not pretty. His lawyer found out he had a “bona-fide sale” clause in his mortgage contract. A bona-fide sale clause is a fancy way of saying that you can’t leave your lender until the term is up, […]
But They Said It Was Portable
The question most often asked: ‘Is my mortgage portable?’ The answer most often given: ‘Yes.’ This answer is increasingly wrong. In reality you qualify to move ~80% of the balance… maybe. If you are thinking of: … you would be well served to keep reading. The above question is incomplete. To be fair, you would […]
Top 5 Questions To Ask Your Mortgage Lender
1. How the penalties are calculated if I break my mortgage early? Specifically, ask what rate they use to calculate the “interest rate differential”. Typically, if the lender has “posted rates” they use these to calculate the penalty. If this is the case, the penalty can be 3, 4 or even 5 times higher than […]
Canada Unemployment Numbers Revealed
Canadian Job Growth Slows Markedly in December as the Unemployment Rate Rises to 6.8% Today’s Canadian Labour Force Survey for December was weaker than expected. Employment was little changed (+8200; 0.0%), and the employment rate held steady at 6.9%. This followed three consecutive monthly increases. The jobless rate rose 0.3 percentage points to 6.8%, as […]
Why Bond Yields Matter for Fixed Rates
If you’ve ever wondered why fixed mortgage rates move up and down, you’re not alone. One of the biggest drivers is something most people never think about: the 5-year Canadian Government Bond Yield. This is something I consistently post on my Instagram account to keep people understanding what’s happening in the market, and to help […]
Mortgage Renewal’s
Why You Shouldn’t Wait Until Renewal: The Smart Homeowner’s Guide to Renewing Early If your mortgage is coming up for renewal — even if it’s 9 months or more away — now is the time to start the conversation. Many homeowners assume they need to wait until the renewal notice arrives before exploring options. But […]
Mortgage Renewals: A Slow-Burn “Crisis” That Never Quite Exploded
One of the biggest risks the industry has been watching is the so-called “mortgage renewal tsunami”—the idea that a wave of renewals coming due in a higher interest rate environment could lead to mass defaults, payment shock, and a broader financial crisis. So far, that forecasted collapse hasn’t materialized. As of mid-2025, Canadian homeowners are […]