You are a Mortgage VIP - Wendy Goodsir - Mortgage Professional

10/14/2026

Why More Canadians Are Rethinking the Five-Year Fixed Mortgage

The five-year fixed mortgage used to be the standard choice for Canadian homeowners. Today, borrowers are increasingly looking elsewhere.

According to CMHC, in the first quarter of 2026, 35.5% of new uninsured mortgages were variable rate and another 49.5% had fixed terms shorter than five years. That means more than 85% fell outside the traditional longer-term fixed approach.

Why the shift?

For many borrowers, flexibility has become more valuable. A shorter fixed term lets you reassess your mortgage sooner, while a variable rate can allow you to benefit more quickly if rates decline.

But that flexibility comes with a trade-off: more exposure to future rate changes.

If rates rise, variable-rate borrowers can feel the impact sooner, while someone choosing a shorter fixed term may face a higher rate when they renew. CMHC's 2026 Mortgage Consumer Survey found that 35% of renewing borrowers experienced increased financial pressure from changing rates, with payments rising by an average of $375 per month among those borrowers.

Your Mortgage Term Checklist

Instead of simply asking “Which option has the lowest rate?”, consider these four questions:

1. How much payment uncertainty can my budget handle?

If an increase of a few hundred dollars per month would create financial pressure, predictability may deserve more weight.

2. How long am I likely to keep this mortgage?

Think about moving, refinancing, accessing equity or making other major financial changes.

3. What am I giving up for today's rate?

Compare penalties, prepayment privileges, portability and refinancing flexibility, not just the advertised rate.

4. What happens if my rate forecast is wrong?

Run the numbers in both directions. What does your budget look like if rates rise? What could you be giving up if rates fall?

The Takeaway

Choosing between a variable, shorter fixed or five-year fixed mortgage is ultimately a risk-management decision.

Before choosing your next term, know three numbers: the payment you can comfortably afford, the payment you could absorb if rates rise, and how long you realistically expect to keep the mortgage.

Those answers can be far more useful than trying to predict exactly where rates will go next.

10/09/2026

🍁🧡 **Happy Thanksgiving!** 🧡🍁

As we celebrate Thanksgiving, I want to take a moment to express how truly grateful I am for my wonderful clients.

Thank you for trusting me with one of life's biggest financial decisions. Whether you are purchasing your first home, renewing your mortgage, refinancing, or planning your next chapter, it is a privilege to be part of your journey.

Your continued trust, support, and referrals mean more to me than you know. I am incredibly thankful for the relationships I have built over the years and the opportunity to help you achieve your homeownership goals.

Wishing you and your loved ones a wonderful Thanksgiving filled with happiness, laughter, and time spent with those who matter most.

**Happy Thanksgiving!** 🍂🏡

Wendy

09/14/2026

Is Your Mortgage Coming Up for Renewal?

For thousands of Canadian homeowners, a mortgage taken out during the pandemic is coming up for renewal in a very different rate environment. And while rates have come down from their recent highs, many borrowers are still preparing for higher payments.

A new Royal LePage survey found that 38% of Canadian homeowners with a mortgage expect their payments to increase when they renew. More than three-quarters of those expecting an increase believe it will put additional pressure on their household finances.

That’s particularly relevant for homeowners who secured historically low rates in 2021 or 2022. Even a relatively modest increase at renewal can translate into hundreds of additional dollars each month, depending on the mortgage balance and remaining amortization.

Most homeowners aren't planning to move because of it. In fact, 71% said they don't expect to change their living arrangements to deal with higher payments. Instead, many are preparing to adjust their spending, with some planning to cut back on discretionary purchases, travel or home renovations.

The good news is that your renewal isn't something you have to simply accept when the letter arrives. Depending on your situation, there may be opportunities to negotiate with your existing lender, move your mortgage to another lender, adjust your amortization or restructure other debts to improve your monthly cash flow.

It’s also worth starting the conversation early. Reviewing your options several months before your renewal date gives you more time to compare rates and strategies rather than feeling pressured to sign whatever your existing lender offers.

The bottom line is that a higher payment at renewal may be unavoidable for some homeowners, but that doesn't mean you don't have options. If your mortgage is renewing in the next year, now is a good time to speak with a mortgage professional and understand what your next mortgage could look like before you have to make a decision.

Questions on your mortgage, or want to compare your mortgage to what is currently available? Please email me.

09/08/2026

Have you noticed fixed mortgage rates creeping up and wondered WHY ... especially when the Bank of Canada has not increased its rate?

Here is the piece that often causes confusion: fixed mortgage rates are influenced by the bond market, not directly by the Bank of Canada’s overnight rate.

When Government of Canada bond yields rise, lenders’ funding costs can increase and fixed mortgage rates often follow.

Variable rates work differently and are much more directly connected to the Bank of Canada and Prime Rate.

So, when you hear that “rates are going up,” it does not necessarily mean ALL mortgage rates are moving in the same direction.

If you have a mortgage renewal coming up, are thinking about buying, or simply want to understand what the current market means for you, feel free to reach out.

09/08/2026

Wondering why fixed mortgage rates have been increasing?

This is a great, easy-to-understand explanation of bond yields, why they have been rising, and how they can impact borrowing costs, including fixed mortgage rates.

Worth a read if you are buying a home or have a mortgage renewal coming up.

Bond yields are rising sharply around the world, with some government borrowing costs reaching levels not seen in years.

09/06/2026

Wondering why fixed mortgage rates have been increasing?

This is a great, easy to understand explanation of bond yields, why they have been rising, and how they can impact borrowing costs, including fixed mortgage rates.

Worth a read if you are buying a home or have a mortgage renewal coming up.

Bond yields are rising sharply around the world, with some government borrowing costs reaching levels not seen in years.

08/06/2026

https://www.canadianmortgagetrends.com/2026/08/can-you-become-a-first-time-homebuyer-again/

Federal programs, mortgage-insurance rules and provincial tax rebates use different definitions, meaning previous ownership does not always disqualify a buyer.

06/15/2026

One of the most common misconceptions about mortgages is that a shorter amortization is always the better choice. While paying off a mortgage more quickly can certainly reduce interest costs over time, the reality is that the right amortization depends on a homeowner's financial situation and long-term goals.
Amortization simply refers to the length of time it would take to pay off a mortgage if payments remained unchanged. In Canada, many homeowners choose amortizations of 25 years, although shorter and longer options may be available depending on the mortgage and lending guidelines.
A shorter amortization typically results in higher monthly payments but allows more of each payment to go toward the mortgage principal. Over time, this can significantly reduce the total amount of interest paid and help homeowners build equity more quickly.
A longer amortization works differently. Because the repayment period is spread over more years, the required monthly payment is lower. While this generally increases total interest costs over the life of the mortgage, it can also create valuable flexibility within a household budget.
For some homeowners, that flexibility can be important. A lower mortgage payment may allow them to build an emergency fund, contribute to retirement savings, manage childcare expenses, pay down higher-interest debt, or simply maintain a more comfortable monthly cash flow. During periods of higher interest rates or economic uncertainty, preserving flexibility can be just as important as accelerating repayment.
It is also worth remembering that choosing a longer amortization does not necessarily lock a homeowner into slower repayment. Many mortgages include prepayment privileges that allow borrowers to make additional payments when their finances permit. This can provide the best of both worlds: lower required payments combined with the ability to pay down the mortgage faster when circumstances allow.
Ultimately, the decision comes down to balance. While minimizing interest costs is an important consideration, it is only one part of a larger financial picture. The mortgage strategy that works best for a young family managing multiple financial priorities may look very different from the strategy chosen by someone approaching retirement.
Like many financial decisions, the goal is not to find a one-size-fits-all solution. It is to choose an approach that aligns with your income, lifestyle, and long-term objectives. A mortgage should support your broader financial plan, and sometimes that means prioritizing flexibility just as much as speed of repayment.

Not sure if your mortgage is still competitive? Contact me to see how it stacks up against today’s offerings.

06/15/2026

Top 5 for May
Thankful for the trust of my amazing clients and referral partners, your support means everything. .

05/11/2026

Top 5 for April - I am so very grateful for the trust of my amazing clients and referral partners — your support means everything.

Congrats to Aprils Top 5 agents!! Way to go team!mortgageplanner

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