Hey there!

If you got your mortgage five years ago, your term is likely up very shortly—and your home has probably increased in value. That’s built-in equity you can leverage right now. 🏡

Reflecting on Interest Rates During COVID

Five years ago, during the height of the COVID-19 pandemic, interest rates were at historic lows. The Bank of Canada slashed rates to stimulate the economy, making borrowing cheaper and more accessible. Many homeowners took advantage of these low rates to secure favorable mortgage terms. Fast forward to today, and the landscape has changed significantly.

Changes in the World Since COVID

The world has undergone substantial changes since the pandemic. We've seen shifts in global economic dynamics, supply chain disruptions, and evolving work-from-home trends. These changes have impacted the real estate market, with increased demand for suburban homes and properties with more space. The housing market has experienced fluctuations, but overall, home values have risen, creating opportunities for homeowners to tap into their equity.

Impacts of US Government Policies  (yeah, that really means Mr Trump’s policies!)

US government policies have also played a role in shaping the current economic environment. Trade conflicts and tariff wars have created uncertainty in global markets. The US government's approach to tariffs and trade policies has led to volatility, affecting various industries, including real estate. These policies have influenced interest rates and borrowing conditions, making it essential for homeowners to stay informed and adapt to changing circumstances.

Factors Today

Today, we face a unique set of factors that can impact your mortgage decisions. Global economic shifts and tariff wars are pushing governments to consider lowering interest rates to stimulate the housing market. The uncertainty right now, is your opportunity!  This creates an usually rare window to secure a better rate, unlock equity, or restructure your finances to save thousands. THIS WILL NOT LAST LONG! Whether you’re looking to reduce monthly payments, access funds for investments or renovations, or consolidate debt—this is your moment. 💰

Current Interest Rates in Canada

As of now, the average annual percentage rates (APR) for mortgages in Canada are as follows:

·5-year fixed mortgage rate: The average APR is 3.74%.

·5-year variable mortgage rate: The average APR is 3.95%.

·Prime rate: The current prime rate is 4.95%.

These rates are subject to change, so it's crucial to stay updated and consult with a mortgage broker to find the best options available.

Recent Market Trends

The real estate market has been experiencing some interesting trends lately:

·Increased Demand for Suburban Homes: With more people working from home, there's been a noticeable shift towards suburban living. Homebuyers are seeking larger properties with more space for home offices and outdoor areas.

·Rising Home Prices: Despite economic uncertainties, home prices have continued to rise in many areas. This is partly due to low inventory levels and high demand, creating a competitive market for buyers.

·Low Inventory Levels: The supply of homes for sale remains low, which has contributed to the rising prices. Sellers are in a strong position, but buyers may face challenges finding suitable properties.

·Interest Rate Fluctuations: Interest rates have been fluctuating, influenced by global economic conditions and government policies. It's essential for homeowners and buyers to stay informed about these changes to make the best financial decisions.

·Increased Focus on Sustainability: There is a growing interest in sustainable and energy-efficient homes. Buyers are looking for properties with eco-friendly features, such as solar panels and energy-efficient appliances.

Canadian Housing Market Trends

The Canadian housing market has shown some notable trends recently:

·Average Home Prices: Canada's national average home price declined to $668,097 in February 2025, marking a 0.3% decrease from January 2025 and a 3.3% decrease compared to February 2024.

·Sales Activity: Seasonally adjusted sales activity totaled 36,997 transactions in February 2025, showing a significant decline of 10% from January 2025 and a 4% decrease year-over-year.

·Benchmark Home Price: The national benchmark home price, which measures the price of a "typical" home, was $713,700, showing a 0.6% increase month-over-month but a 0.9% decrease year-over-year.

·Regional Variations: Home prices and market trends vary significantly across different provinces. For example, British Columbia saw a 1.6% monthly increase but a 2.4% annual decrease in average home prices, while Ontario experienced a 1.7% monthly increase but a 2.9% annual decrease.

Tips for Homeowners Looking to Refinance

Refinancing your mortgage can be a smart financial move, but it's essential to approach it with careful consideration. Here are some tips to help you navigate the refinancing process:

·Assess Your Financial Goals: Determine what you want to achieve with refinancing. Are you looking to lower your monthly payments, shorten your loan term, or access equity for other financial needs? Understanding your goals will guide your decisions.

·Check Your Credit Score: A higher credit score can help you secure better interest rates. Review your credit report and address any discrepancies or issues before applying for refinancing.

·Compare Lenders: Don't settle for the first offer you receive. Shop around and compare rates from multiple lenders to ensure you're getting the best deal. A mortgage broker can help you access a wide range of options.

·Understand the Costs: Refinancing comes with costs, such as closing fees, appraisal fees, and other charges. Make sure you understand these costs and factor them into your decision-making process.

·Consider the Timing: Interest rates fluctuate, so timing can impact the terms you receive. Keep an eye on market trends and consult with a mortgage broker to determine the best time to refinance.

·Evaluate Loan Terms: Look beyond the interest rate and consider the overall terms of the loan. A lower rate might come with higher fees or less favorable terms, so evaluate the complete package.

·Prepare Documentation: Gather all necessary documentation, such as income statements, tax returns, and bank statements. Having these documents ready will streamline the application process.

Benefits of Refinancing

Refinancing your mortgage can offer several advantages, making it a smart financial move for many homeowners. Here are some key benefits:

·Lower Interest Rates: One of the primary reasons homeowners choose to refinance is to secure a lower interest rate. By refinancing at a lower rate, you can reduce your monthly mortgage payments, saving you money over the life of the loan. This can free up funds for other financial goals or simply provide more breathing room in your budget.

·Shorten Loan Term: Refinancing can also allow you to shorten the term of your loan. For example, if you currently have a 30-year mortgage, you might refinance to a 15-year mortgage. While this may increase your monthly payments, it can significantly reduce the total interest paid over the life of the loan and help you build equity faster.

·Access Home Equity: If your home has increased in value, refinancing can provide access to your home equity. This can be particularly useful for funding major expenses such as home renovations, education costs, or debt consolidation. By tapping into your equity, you can leverage the value of your home to achieve your financial goals.

·Consolidate Debt: Refinancing can be an effective way to consolidate high-interest debt, such as credit card balances or personal loans. By rolling these debts into your mortgage, you can benefit from a lower interest rate and simplify your monthly payments. This can help you manage your finances more efficiently and reduce the overall cost of your debt.

·Improve Loan Terms: Refinancing can also help you improve the terms of your loan. For example, you might switch from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, providing more stability and predictability in your monthly payments. Alternatively, you might remove private mortgage insurance (PMI) if your home's value has increased and you now have sufficient equity.

·Increase Cash Flow: By lowering your monthly mortgage payments through refinancing, you can increase your cash flow. This extra money can be used for various purposes, such as investing, saving for retirement, or covering everyday expenses. Improved cash flow can provide greater financial flexibility and peace of mind.

Recent Statistics on Refinancing Trends

Recent trends in mortgage refinancing activity show some interesting developments:

·Payment Savings: Borrowers who refinanced their first-lien conventional mortgages in 2021 lowered their mortgage rates on average by 1.15 percentage points. This resulted in an average annual savings of about $2,700 in mortgage payments (principal and interest).

·Equity Extraction: Many borrowers took advantage of increased home equity by refinancing their properties, reducing their monthly payments and extracting equity through cash-out refinances1.

·Decline in Refinancing Activity: In 2023, refinancing of single-family homes fell by 64% compared to 2022. Rising interest rates contributed to higher monthly mortgage payments, with the average monthly payment for a conventional conforming 30-year fixed-rate mortgage rising from $2,045 in December 2022 to $2,295 in December 2023.

·Discount Points: More than half of all borrowers paid discount points in 2023, with the median discount points paid for refinance loans being about $3,900.

How I Can Help Right Now

As your friendly neighborhood mortgage broker, I'm here to help you navigate these uncertain waters. With over a decade of experience and a rich family history in the real estate industry, I understand the complexities of the mortgage market. I can assist you in finding the best mortgage fit for your individual needs, whether you're renewing your mortgage or looking for a new one.

Remember, the best deal for you might be with your current bank, or it might not. That's where I come in. I'll do the legwork, compare the options, and ensure you get the best mortgage fit for your individual needs. Think of me as your personal mortgage detective, always on the lookout for the best deals.

📞 Let's chat for 15 minutes and map out your best move.

Call to Action

This kind of opportunity doesn’t come around often. Don’t let it pass you by. If you have any questions or need mortgage advice, don't hesitate to reach out. I'm here to help all across Ontario.

Let's make sure you get the best deal possible and bring a smile to your face in the process.

Stay healthy, stay smart, and remember—I'm always here to have your back.

Best regards,

Stuart Lessels

Your “Go To” Mortgage Broker for Georgian Bay and beyond

📧 stuart@housenow.ca

 📞 (705) 445-1234

P.S. Feel free to share this article with your clients and colleagues. It's always good to stay informed and be prepared for what's coming next in the market! 😊

Hey everyone,

I hope you’re all doing well. I wanted to share an update on the wild story I shared with you a few weeks ago — about how my smartwatch saved my life. Sounds crazy right? But the watch kept telling me that my heart was in overdrive and after several notifications (like most men, I tended to ignore the first several dozen) I finally went to the ER... Turns out my heart had been in atrial fibrillation for a while and was running on empty. That tiny alert on my wrist was the only warning I got. Yikes! And, in true Monty Python style, I joked with my kids, “I’m not dead yet!” 

The reality was - it was a close call. REALLY close actually!   How close was it?   Well, the cardiologist compared my test results from when I was in emergency, to when I had follow up testing a few weeks later.....The cardiologist told me that my heart had been in overdrive for too long, and the results show that it was very close to giving up!   YIKES!

I had NO warning signs, no symptoms, just my new watch, which I assumed was defective or something, lol, OOPS!

After that, I finally took this heart thing seriously. And, thanks to our amazing healthcare team, I'm getting the help I needed. (I’m still navigating a heart breaking divorce - let's call that my "bonus stress" - but that’s a tale for another day!)

Now, here’s where things get interesting. While lying on a stretcher in emergency, staring at the ceiling (because really, what else was I going to do?) it dawned on me that just like your smartwatch keeps an eye on your health, you need something (like your mortgage pro) to keep an eye on your mortgage. Why?

Because while you might think your bank’s renewal offer is just fine, you have to ask - "Are you really getting the best deal for you and your family? How would you know?"

With over a decade as a mortgage broker in Collingwood—and a family steeped in real estate—I know what to look for. More importantly, I have access to virtually EVERY bank and lender…..and that includes several that regular homeowners CANNOT access. What does this mean for you? It means you get the mortgage that truly best fits your needs (not the bank's). Think of me as a super diagnostic smartwatch for your finances.

But, you have to pay attention to the signals—whether from your wrist or your wallet—and don’t wait until it’s too late like I almost did!

Stay sharp, stay healthy, and let’s make sure everything in your life is working the way it should.

Best regards,

Stuart "I'm Not Dead Yet" Lessels

Your “Go To” Mortgage Broker for Georgian Bay and beyond

📧 stuart@housenow.ca

📞 (705) 445-1234

Hey friend,

I’ve got a story for you that still has me shaking my head. It’s about how my new Google Pixel Smartwatch probably saved my life. And no, this isn’t some ad—it’s just the truth.

I ordered the watch during Black Friday sales. One of its fancy features is that it can monitor your ECG and detect signs of atrial fibrillation (AFib). Cool, right? But I honestly thought, “This thing’s just a glorified gadget.”

Turns out, it’s smarter than I gave it credit for.

For weeks, it kept pinging me with warnings about possible AFib. I ignored it—because I felt fine! No symptoms, no issues, nothing. I thought, “What does a watch know about my heart?”

But then, one day, curiosity got the better of me. I started reading up on the watch’s accuracy (apparently, it’s right 98.2% of the time). That got me thinking, so I decided to check my pulse manually. Something was definitely off—it was racing like I’d just sprinted up a hill.

Finally, I gave in and went to the emergency room.

The triage nurse took one feel of my pulse and said, “You’re in AFib. Let’s get you a bed right now.” My heart rate was doing cartwheels at 150 beats per minute, and I was whisked off for tests. It was serious, but thankfully, I was in the right place.

Now, I’m working with a cardiologist to figure out the best treatment plan. I’m still in shock, honestly—there were no obvious symptoms, but that little watch wouldn’t stop nudging me until I listened.

I’ve been a ski patroller for decades, and I’ve seen what AFib can do to people. I’ve done CPR on folks who didn’t know they had it. Some even passed away because they didn’t catch it in time. Knowing that I’m one of the lucky ones? It’s humbling.

So, yeah—big shoutout to geeky tech. It’s the reason I’m here to tell this story.

Why a Mortgage Broker Is Your Financial “Smartwatch”

This whole experience got me thinking about the importance of listening to experts—whether it’s a watch that knows your heart or a professional who knows mortgages inside and out.

For over a decade, I’ve been a Mortgage Broker here in Collingwood, Ontario. Helping people navigate the twists and turns of mortgage financing has been my passion. I’ve also got deep roots in real estate, thanks to my family’s long history in the industry.

Here’s why I think working with a broker (like me!) can make your life a whole lot easier:

1. I Have the Experience You Need With more than 35 years as a ski patroller and over a decade helping folks with mortgages, I’ve seen it all. Whether it’s helping first-time homebuyers or tackling tricky refinancing situations, I’ve got the knowledge and patience to guide you.

2. You Get Access to 80+ Lenders

From big banks to credit unions to private lenders, I can shop around to find the best rates and terms for you. Sometimes your current bank is the best choice—sometimes it isn’t. Either way, I’ll help you figure it out.

3. It Costs You Nothing

Here’s the kicker: my services are completely free to you. Lenders pay me a small commission, so you get expert advice without any extra fees.

4. Personalized Service

Every client’s situation is unique, and I treat it that way. I’ll explain your options in plain English, answer your questions, and maybe even throw in a cheeky joke or two (because why not make mortgages a little fun?).

5. I’m With You for the Long Haul

Need help down the road? Want to explore refinancing or have questions about your mortgage? I’ll be there for you—not just during the process but long after.

Wrap-Up

Just like my smartwatch kept nudging me until I paid attention, having a trusted Mortgage Broker in your corner is like having someone look out for you in the confusing world of financing.

If you’re looking to buy, refinance, or renew your mortgage, give me a shout. Together, we’ll find the best deal for you, save you some stress, and maybe even have a laugh along the way.

Stay healthy, stay smart—and listen to the things (and people) that have your back.

Stuart Lessels

Your “Go To” Mortgage Broker for Georgian Bay and beyond

📧stuart@housenow.ca

📞 (705) 445-1234

Feel free to share this with your clients and colleagues. It’s always good to stay informed and be prepared for what’s coming next in the market! 😊

P.S. If you need any mortgage advice or have any questions, don’t hesitate to reach out. I’m here to help all across Ontario! 🏡📞