Mortgage & Wealth Strategies
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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.
Let’s get started.
Steady Rates, But Storm Clouds Are Gathering
July 28, 2025 | Posted by: Matt Broom-Hall
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As we move into August, the Bank of Canada is set to make another rate announcement—and while no immediate changes are expected, there’s a growing sense that something’s got to give.
After seven consecutive cuts brought the benchmark rate down to 2.75%, the central bank is widely expected to hold that level this Wednesday. But underneath that calm surface, signs of a coming storm are building.
A new forecast from the Canadian Federation of Independent Business (CFIB) suggests Canada is headed for a mild recession in 2025. They’re projecting two straight quarters of economic contraction—textbook recession territory. The outlook points to a 0.8% decline in GDP in both Q2 and Q3 of next year, driven by falling business investment and shaken consumer confidence. Supply chain disruptions, cautious spending, and declining private investment are hitting sectors like wholesale and manufacturing particularly hard. At the same time, the Bank of Canada’s own surveys show households are pulling back—spending less, travelling closer to home, and worrying more about job security.
Inflation continues to hover around 3%, which is still too high for the Bank’s comfort. Core indicators remain sticky, and the three-month annualized rate recently rose to a six-month high. This is likely what’s keeping the BoC on pause for now. However, economic pressure is mounting—from both inside and outside our borders. A major wildcard is the looming threat of new U.S. tariffs on Canadian goods not covered by CUSMA, which could take effect as soon as August 1. If those tariffs hit, the drag on Canada’s export economy could be significant—and rate cuts may follow sooner than expected.
Despite all this, job growth remains strong. Canada added 83,000 jobs in June, which muddies the picture somewhat. A resilient labour market can delay rate cuts, even in the face of a broader slowdown. So, while no move is expected this week, economists are split on the BoC’s next step. Some predict a cut by September if the economy continues to soften.
What does this mean for your mortgage? In short: it’s time to be strategic.
Fixed mortgage rates have been stable lately, with bond yields staying in a tight range. But what’s unusual right now is how closely three- and five-year fixed rates are priced. That kind of rate compression is rare—and it suggests that the five-year term, which usually carries a higher premium for stability, is temporarily on sale. If you value predictability in your payments, now may be a great time to lock in for longer.
Variable-rate mortgages remain a higher-risk, potentially higher-reward option. While they’re currently more expensive than fixed rates, they could outperform if the BoC resumes cutting later this year. But it’s not a bet for everyone. If you’re choosing variable, you need the cash flow flexibility and comfort level to weather short-term volatility.
Renewing? Don’t default to your lender’s first offer. With rate competition still alive and well, many lenders are offering sharper deals—especially through brokers or if you’re willing to switch. It’s a competitive window, and a little shopping can go a long way.
If you’re already in a mortgage, especially a variable one, rate relief may be coming, but not right away. Be sure you’ve got a buffer in place to manage current costs and any bumps that may still lie ahead.
Tip of the Week
Pre-approvals are not binding commitments from lenders. Despite the name, they don’t guarantee you’ll get the mortgage—or the amount—you’re pre-approved for.
That said, getting pre-approved is still smart. It locks in a rate for a set period, which can protect you if rates rise while you shop. It also gives you a clearer sense of your potential borrowing power based on your income.
But be cautious: pre-approvals don’t account for specific property types, so surprises can still happen at the final approval stage. A thorough understanding of what your pre-approval does—and doesn’t—cover will help you avoid last-minute setbacks.