Tammy Wanklin Mortgage Agent

09/04/2026

09/02/2026

🏡 BANK OF CANADA RATE UPDATE 🇨🇦

The Bank of Canada has HELD the overnight lending rate at its current level.

What does this mean for you?

If you have a variable-rate mortgage or line of credit, your rate should remain unchanged for now.

If you’re buying a home, renewing your mortgage, or simply wondering whether your current mortgage strategy still makes sense, this is a great time to review your options.

Mortgage decisions aren’t just about the rate — they’re about finding the right strategy for you.

📩 Have questions? I’m always happy to chat. 519-573-8666

07/31/2026

Happy Civic Holiday to our incredible community across Canada! 🍁 Whether you're enjoying a long weekend getaway, celebrating with family and friends, or simply taking some well-deserved time to relax, we hope your day is filled with joy and sunshine.

How are you celebrating your August Long Weekend? Share your plans in the comments below! 👇

07/20/2026

Being your own boss is one of the best financial decisions you can make. Getting a mortgage while self-employed? That part requires a different strategy.

Traditional lenders qualify borrowers based on T4 income, a straightforward number that doesn't reflect how most self-employed people actually earn. If you write off business expenses (and you should), your declared income on paper is often lower than what you actually bring home. Lenders see that lower number and approve you for less, or decline you entirely.

Here's what your options actually look like:

✅ Stated income programs — some lenders will consider your gross business revenue rather than net declared income, with strong credit and equity
✅ Bank statement programs — some alternative lenders assess your actual cash flow using 12–24 months of business banking
✅ Alternative and private lenders — offer more flexibility for non-traditional income, typically at slightly higher rates with a path back to prime lending
✅ Strong down payment — a larger down payment can offset income documentation challenges with certain lenders

The key is knowing which lender and which program fits your specific income structure. That's not something a bank will shop for you.

📩 Self-employed and ready to buy, renew, or refinance?

07/15/2026

📢 Bank of Canada Holds Interest Rate at 2.25%

As expected, the Bank of Canada has announced that the overnight lending rate will remain at 2.25%.

While today's announcement brings continued stability, the mortgage market is still influenced by bond yields, inflation, and economic conditions.

If you're buying a home, renewing your mortgage, or wondering whether now is the right time to refinance, I'd be happy to help you understand what today's announcement means for your situation.

📞 Feel free to reach out anytime.

Tammy Wanklin
Mortgage Agent
519-573-8666

07/13/2026

Making Mortgages Simpler, So Life Feels Easier

Call for me for details on how this can affect your upcoming mortgage renewal, purchase or refinance!

07/09/2026

This myth is keeping more Canadians out of the market than rising rates ever have. Let's fix that.

❌ Myth: You need 20% down to buy a home.
✅ Reality: In Canada, you can buy with as little as 5% down.

Here's how the minimum down payment actually breaks down:

- Homes up to $500,000 → minimum 5% down
- Homes $500K–$999,999 → 5% on the first $500K + 10% on the remainder
- Homes $1M–$1.5M → minimum 10% down (expanded under recent federal mortgage reforms)
- Homes over $1.5M → minimum 20% down

If your down payment is under 20%, you'll need mortgage default insurance, but that doesn't mean you're paying more forever. It means you get into the market sooner, start building equity sooner, and stop paying someone else's mortgage.

Many Canadians are sitting on the sidelines saving for 20% when they could already be homeowners.

📩 Let's look at your actual numbers, you might be closer than you think.

07/07/2026

Ever wonder why the amount you're pre-approved for feels lower than expected?

The mortgage stress test is often the reason.

To qualify for most mortgages in Canada, you must show you can afford payments at the higher of:

📈 Your mortgage rate + 2%
📈 5.25%

So if your rate is 4.5%, you'll need to qualify at 6.5%.

What does that mean?

✅ Your approval amount may be lower than expected
✅ Your income, debts, and down payment matter more than ever
✅ The right mortgage strategy can make a big difference