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Beyond The Rate
As an expert mortgage broker, I know building wealth through homeownership and achieving financial freedom is about more than just chasing the lowest rate—it’s about strategy.
I'm taking you behind the scenes and giving you the insider tools and powerful strategies to get ahead. If you’re a first-time homebuyer, you’ll find everything you need to secure your first property and start building wealth from day one.
If you’re an existing homeowner, this is where you take control. Maximize the wealth-building potential of your current home with proven strategies for refinancing, leveraging equity, and optimizing your mortgage for bigger opportunities.
Your mortgage is more than a loan—it’s a gateway to long-term financial success.
My goal is simple: to equip you with the knowledge and tools to make smart, strategic decisions that will transform your financial future.
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Did the Bank of Canada Just Miss Its Moment?
June 9, 2025 | Posted by: Matt Broom-Hall
Let’s Talk: Did the Bank Just Blink?The latest move—or more accurately, non-move—from the Bank of Canada has raised more than a few eyebrows this week.
While economists and markets widely expected the BoC to hold rates steady, the broader question was whether staying on the sidelines was the right call. And based on the deeper data, the answer might be no.
Here’s the kicker: even though the Bank didn’t hike rates, financial conditions are still tightening across Canada. Why? Because fixed mortgage rates—which are tied to Government of Canada bond yields—have been quietly heading higher, pulled up by rising U.S. Treasury yields. In other words: the market is doing the tightening for them.
Variable rates, meanwhile, stayed unchanged last week. But don’t get too cozy—expectations are still building for more rate cuts later this year, depending on how quickly the economy softens.
Let’s dive in and unpack what it all means for mortgages, homebuyers, and market momentum.
The Rate That Didn’t Drop
The Bank of Canada admitted that Canada’s economy is slowing—business investment is tapering off, housing activity has cooled sharply, and consumer confidence has dropped. Employment is softening too, with the national unemployment rate ticking up to 7%.
By many measures, that’s the recipe for a rate cut.
But inflation—or more specifically, a sudden uptick in some of the Bank’s closely watched core inflation measures—spooked policymakers enough to hold steady. They’re clearly wary of misjudging inflation again after the post-pandemic surge.
Still, much of that inflation bump appears tariff-related. With new trade tensions escalating, both the U.S. and Canadian governments have slapped higher import duties on steel, aluminum, and other goods. Historically, only a fraction of those costs reach consumers. The rest get absorbed by suppliers or cut into business profits.
And here’s the thing: today’s consumers are already stretched. We’ve seen rising debt levels, increasing delinquency rates, and cautious spending habits across the board. That’s hardly an environment where businesses can easily pass price hikes along. So while tariffs may inflate input costs, the broader economy isn’t primed for another inflation run-up.
Yet with the BoC standing firm, and fixed rates edging up due to market forces, borrowers are facing tougher affordability conditions—even without a formal policy hike.
What Does This Mean for You?
For homeowners due to renew: Keep a close eye on fixed vs. variable pricing. If you’re mid-renewal window, it’s a great time to review your strategy—especially as markets remain volatile. A number of lenders are offering promotional variable rates again, and if you think cuts are still coming (as many do), there may be savings to capture.
For buyers: The window to act before rates ease might be shorter than you think—but don’t let rate watching cause analysis paralysis. What matters most is locking in financing that works for your budget today, with flexibility for tomorrow.
For those eyeing the market: Real estate has cooled in many major cities—notably due to rate-driven affordability pressure—but inventory is still tight in Alberta and parts of the Prairies. Expect renewed heat once cuts resume and buyers rush back. Timing will be critical this summer.
Tip of the Week
Don't judge the market by headlines—judge it by your numbers. Whether buying or renewing, always run the full math on monthly payments, not just advertised rates. That clarity can be the difference between a confident decision and costly hesitation.
Until next time, stay smart, stay ready, and remember—markets may move in cycles, but the smartest move is always the one that fits your goals today.
I am an independent full-time mortgage broker and industry insider who helps Albertans from all corners of the province. If you are purchasing, refinancing or renewing your mortgage, contact me or apply for a Mortgage Check-up to obtain the best available rates and terms.