Is Your Mortgage Up For Renewal In The Next 3-6 Months?

Marci Deane • December 15, 2020

While this potential second wave of COVID-19 is causing uncertainty in the Canadian economy, understandably, many homeowners are on edge. And although it might feel right to sit tight and see how things pan out, if your mortgage is up for renewal in the next 3-6 months, now is actually the best time to have a conversation with an independent mortgage professional to discuss your mortgage options. 


This is especially true if you’ve seen a reduction of income due to the pandemic, taken any government assistance, or if you’ve deferred (or missed) any of your mortgage payments. Any of the above might not impact your renewal, but the whole reason you plan ahead on things like this is to make sure you aren’t left without options by leaving it to the last minute. We haven’t seen the full impact COVID-19 has had on mortgage financing, don’t wait until the last minute to secure your renewal. Planning ahead is the smart move.


Did you know that many Canadians sign the renewal letter they receive in the mail from their current lender without a second thought? They assume that the lender is looking out for their best interest. The truth is, all lenders know this and rarely offer their best rate or terms at the onset of negotiations. And that is exactly what a mortgage renewal is, a negotiation. 


Don’t be led to believe that a mortgage renewal is a simple transaction, that you should just take what your lender offers you, look at all your options. Now, this doesn’t mean just looking at all the terms offered by one lender; it means looking at products from multiple lenders. You do this by working with an independent mortgage professional. 


When you work with an independent mortgage professional, you receive the expertise of a trained banking professional who is working for you and not the bank; at no cost to you!


As we move into an uncertain economic future, you might want to look at mortgage terms and options that might be different from what you’ve gone with in the past. Just because you took a 5-year term previously doesn’t mean you have to go with another 5-year term. You have lots of options. 


Interest rates are at an all-time low, making it a perfect time to ensure you’re getting the best deal on a mortgage. I’d love to help you with that. Contact me anytime! At the very least, by having a quick conversation, we can assess your financial situation and see if the renewal letter you received is a good deal. 

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Smart Strategies to Save for Your Down Payment

By Marci Deane • March 25, 2026
How to Start Saving for a Down Payment (Without Overhauling Your Life) Let’s face it—saving money isn’t always easy. Life is expensive, and setting aside extra cash takes discipline and a clear plan. Whether your goal is to buy your first home or make a move to something new, building up a down payment is one of the biggest financial hurdles. The good news? You don’t have to do it alone—and it might be simpler than you think. Step 1: Know Your Numbers Before you can start saving, you need to know where you stand. That means getting clear on two things: how much money you bring in and how much of it is going out. Figure out your monthly income. Use your net (after-tax) income, not your gross. If you’re self-employed or your income fluctuates, take an average over the last few months. Don’t forget to include occasional income like tax returns, bonuses, or government benefits. Track your spending. Go through your last 2–3 months of bank and credit card statements. List out your regular bills (rent, phone, groceries), then your extras (dining out, subscriptions, impulse buys). You might be surprised where your money’s going. This part isn’t always fun—but it’s empowering. You can’t change what you don’t see. Step 2: Create a Plan That Works for You Once you have the full picture, it’s time to make a plan. The basic formula for saving is simple: Spend less than you earn. Save the difference. But in real life, it’s more about small adjustments than major sacrifices. Cut what doesn’t matter. Cancel unused subscriptions or set a dining-out limit. Automate your savings. Set up a separate “down payment” account and auto-transfer money on payday—even if it’s just $50. Find ways to boost your income. Can you pick up a side job, sell unused stuff, or ask for a raise? Consistency matters more than big chunks. Start small and build momentum. Step 3: Think Bigger Than Just Saving A lot of people assume saving for a down payment is the first—and only—step toward buying a home. But there’s more to it. When you apply for a mortgage, lenders look at: Your income Your debt Your credit score Your down payment That means even while you’re saving, you can (and should) be doing things like: Building your credit score Paying down high-interest debt Gathering documents for pre-approval That’s where we come in. Step 4: Get Advice Early Saving up for a home doesn’t have to be a solo mission. In fact, talking to a mortgage professional early in the process can help you avoid missteps and reach your goal faster. We can: Help you calculate how much you actually need to save Offer tips to strengthen your application while you save Explore alternate down payment options (like gifts or programs for first-time buyers) Build a step-by-step plan to get you mortgage-ready Ready to get serious about buying a home? We’d love to help you build a plan that fits your life—and your goals. Reach out anytime for a no-pressure conversation.

Bank of Canada Holds Rate at 2.25% — March 18, 2026

By Marci Deane • March 18, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. For anyone watching the mortgage market — whether you're renewing, purchasing, or simply keeping an eye on borrowing costs — here's a breakdown of what was announced and what it may mean for you.

Is Now the Right Time to Buy? A Look at Canada's 2026 Housing Market

By Marci Deane • March 17, 2026
For many Canadians, the dream of homeownership has felt like a moving target. After years of market volatility, shifting interest rates, and economic uncertainty, you might be wondering: is 2026 finally the year to make a move?