Tony Piattelli - Mortgage Broker

08/13/2025

I saw this spider web that was built over top of an ant hill, the fresh dirt dug up to the left of the web. I thought this would be a great opportunity to discuss how to work smarter not harder. Building the spider web right over the ant air vent..
However, when I reviewed the picture and zoomed in on the spider web I was amazed at how cool it looked with the water reflecting within the web itself. I'm sure there are all the colours of the rainbow within this web. This web extends to the right way further than I initially noticed.
Nothing beats natures beauty.

03/05/2025

Thought I would share this past regarding the awards that quantus has been nominated for. Very proud of our group

02/26/2025

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06/16/2024

Happy Father's Day

03/26/2024

Something many homeowners are surprised about when they want to sell is what it costs to break their mortgage. While most variable-rate mortgages cost about 3 months of interest to break their mortgage contract, fixed-rate mortgage holders may pay more based on the Interest Rate Differential (IRD) calculation used by their lender.

IRD is calculated differently by each lender and is only applicable the day the lender receives the payout request. The easiest calculation that I've seen is to take the current rate of the mortgage with the length of time remaining in the term. The length of time remaining is important as this covers two variables in the calculation. The interest rate on the current term, is at least as long as the remaining term or shorter.

For example: Two years have passed, exactly three years are remaining, the term rate would be the current three-year rate. If two and half years have passed, the term used would be the two-year term. So if the current rate is 5%, the current 3-year rate is 3.5%, the interest rate used to calculate the penalty would be 1.5% times the outstanding balance, times three years.

Therefore, depending on where you are in your term, this penalty may be in the $1,000s.

Luckily, IRD comes into play when interest rates are dropping and the rate on the term remaining is lower than the rate on the contract (existing mortgage).

03/08/2024

Given the level of uncertainty within the marketplace, and political tensions throughout the world, it’s more important than ever for consumers to bulletproof their lifestyle.

I recently helped a client free up over $2,000 in cash flow per month by restructuring their mortgage and paying off unsecured debts.

Given the level of uncertainty within the marketplace, and political tensions throughout the world, it’s more important than ever for consumers to bulletproof their lifestyle. We need to position ourselves to withstand fiscal shock (large interest increases), personal shock (loss of employment, si...

02/23/2024

So, if inflation has dropped to 2.9%, why are we still feeling the effects of high costs as it relates to mortgages?

There are a few reasons why high costs will be sticky, with one of the biggest reasons being how fast and high rates have moved. This has caused those with Variable/Adjustable Rate Mortgages to manage these increased costs immediately, and those with renewing fixed-rate mortgages to adjust at renewal. This will continue for the next couple of years as renewals continue within the higher-rate market. These costs for most will be static for the fixed term thus locking in the higher costs.

As it relates to the regular costs of goods and services, our economy is closely tied to the USA's economy and their inflation hasn't dropped like ours. This will have an impact on costs.

Inflation slowed to 2.9% in January instead of the 3.3% economists expected, bringing interest rate relief closer to becoming a reality.

02/15/2024

There's a myth out there that equity is free money.

The fact is, the amount of equity that you've built through that time is the investment of principal.

When I hear in the media that equity is “free money,” I 100% disagree as it’s not free money. There was the cost of interest, your taxes, your utilities, home insurance, and then all of the other stuff that goes into your home—lawn mower, snow shovels, furnace filters, etc.

Does that mean you should not buy a house or leverage the equity that is there? Of course not.

I believe using equity, primarily through a HELOC, is a great financial tool if set up correctly. Send me a message if you would like to set up a HELOC or take out a bit of equity in your home.

02/08/2024

I recently worked with a client where we were able to reduce their monthly mortgage payment by $1,000 by opening up their cash flow and taking advantage of pre-payment options.

https://bit.ly/ReduceMortgagePayment

01/25/2024

The Bank of Canada kept their overnight lending rate at 5% yesterday, meaning variable rates remain the same for now.

If you're thinking about buying a home or have a mortgage renewal forthcoming, proactively manage your position by discussing your situation and options with your mortgage broker. You can have a plan for a few different rate scenarios.

Want to buy? Note that the yield curve is inverted meaning that the longer-term rates are lower than the shorter-term rates, so the 5-year fixed-rate mortgage is the lowest rate at the time of writing. Fixed rates have been coming down since October and it may be a good idea to have a rate hold in place while you're shopping.

Want to free up cash flow? Let's look at refinancing your mortgage to potentially lower your monthly payments or access equity for other financial goals (like consolidating some of that high-interest debt, investing, and home renovations). We can also look at changing your payment frequency as another option to free up cash flow.

01/19/2024

I recently asked my followers if they were going to renew their mortgage early this year, and I was surprised by the results. Over 63% were Not going to renew early.

As a follow-up to that question, I'd like to know why.

Why are you not considering renewing early this year?

1️⃣Too much time left in my term
2️⃣Waiting to see what rates do
3️⃣Don't know if I can renew early
4️⃣Other

01/11/2024

Over 65% of Canadians have a finance-related New Year's resolution. Regardless of your goals this year, the first step is to find an expert in that field to help you. If you are looking for any recommendations, I'd be happy to help.

What is your primary financial goal for this year?

a) Save for a major purchase
b) Pay off debt
c) Invest for the future
d) Other