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02/09/2026

What’s new and changing in Housing? A Look at the Proposed Initiatives

With housing affordability and supply under pressure nationwide, the federal government has outlined a range of new strategies aimed at reshaping Canada’s housing landscape. From tax relief and zoning reforms to major investments in infrastructure and construction, these policies are designed to benefit not just first-time buyers, but also current homeowners, developers, and renters.

Here’s an overview of the key measures that will potentially re-shape Canada’s housing future.

GST REBATE FOR FIRST-TIME BUYERS

On March 20, 2025, the government announced it would eliminate the 5% GST on newly built homes (up to $1M) purchased by first-time buyers.

What this means for you:

• A $750,000 new home could save you up to $37,500

• Applies to first-time buyers only

• No rebate on homes priced over $1 million

This measure came into effect immediately with the new government and is expected to significantly reduce upfront costs for eligible buyers.

A NATIONAL CONSTRUCTION PUSH

The new Build Canada Homes agency aims to double annual home construction, targeting 500,000 new units. Key features include:

• Fast-tracking modular and prefabricated builds

• Opening up underused public lands for residential builds

• Providing $25B in financing for builders and developers

• Streamlining federal housing programs

Why this matters? A major increase in supply could ease market pressure and expand buyer options, especially in urban centres.

PUBLIC LANDS FOR HOMES PLAN

Up to 250,000 homes will be built on surplus federal land by 2031. A new $500M fund will also help buy land from provinces and municipalities to support builds in high-demand areas.

What this means for you:

• More housing starts in cities and growth areas

• Increased land availability may help stabilize prices

• Focus will be on affordable and first-time–friendly housing

ZONING REFORMS AND DEVELOPMENT INCENTIVES

To encourage more multi-unit housing, the government will:

• Cut municipal development charges by 50% over five years, with federal funding to offset local revenue losses

• Reintroduce the MURB (Multiple Unit Residential Building) tax break to spur rental construction

• These measures are designed to speed up development and reduce costs.

INFRASTRUCTURE SPENDING TO SUPPORT GROWTH

To keep pace with housing demand, the government is investing:

• $20B over 10 years for social infrastructure (affordable housing, childcare, community hubs)

• $6B for roads, utilities, and essential services

This ensures new homes are part of complete, livable communities.

LET’S TALK STRATEGY!

A stable, well-supplied housing market helps protect property values and strengthen communities—whether you’re buying, investing, or building wealth through your home equity. Wondering how these changes could affect your plans? Let’s talk.

02/06/2026

How to build your credit history

Demystifying Credit Scores

These days, like so many things, your credit score is easily accessible and free. Not so long ago, the only way to see your credit score was to obtain a copy of your credit report, which involved submitting a request and paying for the privilege. In 2014, however, legislation was passed that transformed the credit reporting landscape and Canadian consumers now enjoy the convenience of instant access to their credit score. While it can be an incredibly useful tool to give you a general idea of your financial standing and to protect yourself against identity theft or fraud, it’s important to understand that your free credit score (often referred to as a “consumer credit score” or “educational credit score”) isn’t what lenders use to make lending decisions.

In Canada, there are two credit bureaus – Equifax and TransUnion – that collect information from various sources (banks, lending institutions, government agencies, landlords, utility companies, telecom companies, etc.) to build your credit file. Your file contains a lot of detail about you such as employment history, payment history, outstanding debts, credit inquiries, plus any public records pertaining to finances. The credit bureaus use various complex scoring models to interpret the data and assign you a 3-digit credit score ranging from the lowest (300) to the highest (900). The higher the score, the better.

While most people think their credit score and their credit report are the same thing, they are not. Think of your credit report as your financial report card and your credit score as your overall grade. Your credit score does carry some weight with lenders, but it’s just a starting point. To determine what kind of risk you are likely to be as a borrower, they must delve a little deeper into your file to get the complete picture.

Here are some of the key areas that lenders take into consideration:

· PAYMENT HISTORY: It’s simple but extremely important. Do you consistently pay your bills on time? This is a key behaviour that lenders are looking for and one of the strongest predictors that you are likely to meet your financial obligations in future. It is generally the most heavily weighted factor in most credit scoring models.

· CREDIT UTILIZATION: Creditors and lenders look favourably on someone who isn’t maxing out their available credit. Even if you’re not missing payments, keeping your accounts near their maximum limit can be interpreted by lenders as a sign that you’re not able to manage your spending.

· CREDIT MIX: It’s generally preferred by lenders to have a diverse mix of credit in your file. For example, someone with a credit card, loan and mortgage might be viewed more positively than someone with three credit cards.

· RECENT CREDIT INQUIRIES: If lenders see that you’ve opened or applied for multiple credit accounts recently, they might be concerned as this may suggest an

increased borrowing risk. One of the advantages of working with a mortgage broker is that we can submit your mortgage application to multiple lenders with only one credit inquiry.

· CREDIT HISTORY: Lenders look at your credit history to understand your financial behaviour over time. A well-documented history of responsible credit behaviour is usually a very good indication that you will be able to manage debt in future.

· PUBLIC RECORDS AND COLLECTIONS: Bankruptcies, liens, judgments, and accounts in collections are red flags for lenders as they indicate potential financial difficulties.

So while that free credit score you got likely included some basic information such as current balances, recent credit inquiries, any missed payments, etc., it's nowhere near the amount of detail that lenders see when they pull your credit bureau. As your mortgage broker, I possess extensive knowledge and experience in the mortgage industry. We can review your credit together in a stress-free environment to provide a comprehensive understanding of your creditworthiness from a mortgage lender's perspective, help you gain valuable insights into how lenders perceive your financial profile and help you understand your mortgage eligibility. I can also provide guidance on improving your creditworthiness, if necessary. If your mortgage renewal date is approaching, if you're contemplating a move or if you'd just like a mortgage review, please feel free to get in touch so we can have a conversation. I'm always available.

02/06/2026

Renewing in a higher-rate environment

I’ve been getting a lot of questions lately about mortgage renewals – not surprising, given the steady rise of mortgage rates over the last couple of years. People with mortgages renewing in 2026 and even 2027 are justifiably concerned about what their new mortgage will cost, what impact it will have on their cash flow, and whether or not they will even be able to pass the stress test with today’s rates! Far too many people go into auto-pilot mode when it’s time to renew their mortgage and will often just accept the renewal offer they get from their current lender. It’s temptingly easy and in some cases, it may even work out well, but in our current environment, this is a risky and potentially costly misstep. The reality is, if you’re coming up to the end of a 3-, 4-, or 5-year term, you will be renewing at a significantly higher rate which means a higher mortgage payment and an increase in your total cost of borrowing. And while we may not be able to control interest rates, there are some ways to minimize your cost increase in the short term.

HERE ARE SOME TIPS TO HELP YOU NAVIGATE THE MORTGAGE RENEWAL PROCESS IN A HIGHER-RATE ENVIRONMENT:

1. A good end result starts with a good plan. I can’t emphasize enough how important it is to start the process early. Get in touch with me so we can take the time to review your file. There might have been some significant changes in your life and your financial picture since we negotiated your previous mortgage so it’s always a good idea to discuss your priorities, concerns, wishes, etc.

2. Don't assume that your current lender will offer you the best rate or terms for your renewal. There may be a product from a different lender that's better suited to your current needs, or another lender might be offering a better rate. If your current lender sees that you are considering all your options, they may even be inclined to make their offer more attractive to keep your business.

3. Consider a shorter-term or a variable-rate mortgage. If you’re worried about locking in a high fixed rate for a long term, it may make sense for you to choose a shorter term and “wait and see” what mortgage rates look like in a year or two. Or, we could look at a variable rate. A shorter term will allow you to renew more frequently and take advantage of lower rates if they drop in the future. A variable rate will fluctuate with the market and may save you money if rates go down. But since no one can predict what rates will do, both options come with some risks and uncertainties. Together, we can discuss the pros and cons of either option before you make a final decision.

4. Pay down your principal as much as possible. One of the best ways to reduce the impact of higher rates is to lower your outstanding balance. The less you owe, the less interest you will pay. You can pay down your principal by making lump sum payments, increasing your monthly payments, or choosing an accelerated payment schedule. I can review your mortgage contract with you so you can take full advantage of your prepayment privileges without triggering any penalties.

5. Repeat #1. Call me – the sooner the better! As an independent mortgage professional, my job is to find the best mortgage solution for your needs and goals. I have access to a wide range of lenders and products that may not be available to you directly. I can also provide you with unbiased advice and guidance throughout the renewal process. Whether you want to stay with your current lender or switch to a new
3. Consider a shorter-term or a variable-rate mortgage. If you’re worried about locking in a high fixed rate for a long term, it may make sense for you to choose a shorter term and “wait and see” what mortgage rates look like in a year or two. Or, we could look at a variable rate. A shorter term will allow you to renew more frequently and take advantage of lower rates if they drop in the future. A variable rate will fluctuate with the market and may save you money if rates go down. But since no one can predict what rates will do, both options come with some risks and uncertainties. Together, we can discuss the pros and cons of either option before you make a final decision.

4. Pay down your principal as much as possible. One of the best ways to reduce the impact of higher rates is to lower your outstanding balance. The less you owe, the less interest you will pay. You can pay down your principal by making lump sum payments, increasing your monthly payments, or choosing an accelerated payment schedule. I can review your mortgage contract with you so you can take full advantage of your prepayment privileges without triggering any penalties.

5. Repeat #1. Call me – the sooner the better! As an independent mortgage professional, my job is to find the best mortgage solution for your needs and goals. I have access to a wide range of lenders and products that may not be available to you directly. I can also provide you with unbiased advice and guidance throughout the renewal process. Whether you want to stay with your current lender or switch to a new one, I can help you negotiate the best possible terms and conditions for your renewal.

Like any important financial decision, renewing your mortgage requires careful consideration and it’s not something you want to do while under time pressure. And this advice doesn’t just apply at renewal time – if you want to discuss debt consolidation strategies, if you have a large expense coming up and want to explore financing solutions, or if you want to review your overall mortgage strategy, don’t procrastinate! Contact me today and let me help you achieve your financial objectives – at renewal or at any point of your mortgage term.

06/26/2025

Market Trends: A Balancing Act
The Canadian housing market continues to find its footing after several years of interest rate fluctuations, inflation concerns, and economic uncertainty. While some regions are experiencing increased buyer activity, others are seeing more balanced conditions as sellers adjust their expectations.

Interest rates remain a key factor. The Bank of Canada has kept rates steady after a series of increases, and while there is speculation about potential rate cuts later in the year, nothing is guaranteed. This means that mortgage affordability remains a primary concern for many buyers. If you’re in the market for a home, locking in a competitive rate now could be a smart move, rather than waiting for conditions that may or may not improve.

06/26/2025

Thinking of buying or selling ? How exciting ! Call me first, I can help you plan ahead.

Planning Ahead is the Key
Anytime you are thinking of buying or selling real estate it's an exciting time, but it also requires careful planning. Whether you’re buying, selling, looking to invest or refinance, having a strategy in place will help you make informed decisions and get the best outcome.

As your mortgage advisor, I’m here to help you navigate these choices. If you have questions about mortgage options, pre-approvals, or refinancing strategies, let’s chat. The right advice now can set you up for financial success in the months and years ahead.

06/26/2025

Are you thinking of Selling your house, feel free to call me to discuss your penalty or are you better off porting?
AND, here is one more tip:

Sellers: Setting Realistic Expectations
If you’re considering selling this year, the key is to price your home correctly. Overpriced homes tend to sit on the market longer, while competitively priced properties attract serious buyers. Work with a knowledgeable real estate agent to assess recent comparable sales and set a fair asking price.

Presentation matters, too. With more homes hitting the market, staging and curb appeal can make a big difference in attracting buyers. Small upgrades, decluttering, and professional photos can help showcase your home in the best light.

06/26/2025

GST REBATE FOR FIRST-TIME BUYERS
On March 20, 2025, the government announced it would eliminate the 5% GST on newly built homes (up to $1M) purchased by first-time buyers.
What this means for you:
• A $750,000 new home could save you up to $37,500
• Applies to first-time buyers only
• No rebate on homes priced over $1 million
This measure came into effect immediately with the new government and is expected to significantly reduce upfront costs for eligible buyers.

03/19/2025

Why early payout penalties matter now more than ever.

We are deep in the competitive spring real estate market! And we’re seeing a very interesting rate anomaly. Fixed-rate mortgages are very competitively priced and gaining in popularity, while variable-rate mortgages are looking overpriced. We’re even seeing ten-year mortgages at good rates back in the news. If the market is telling us that fixed-rate mortgages have an advantage, then be sure to look at the fine print because the devil is in the details and early payout penalties matter.
Why? Sometimes you just need to get out of your mortgage! It’s impossible to plan for many of the things that will happen in our lives, like job loss, illness, divorce, relocation, or another personal matter. Or when much better mortgage rates become available. Your needs and the market can shift easily during the term of your mortgage and the last thing you want is a painful penalty to get out early. That’s why it’s important to consider what your early payout penalty may be before you get your mortgage. We all want to believe that none of these scenarios will transpire, but when they do, it’s a relief to have a cost-effective option to get out.
Generally, to break your mortgage, you can expect to pay the greater of either a) three months’ interest, or b) the interest-rate differential (IRD). With the IRD, your mortgage lender will want you to pay the equivalent of what they will lose by releasing you from your mortgage and lending the money at current rates. Not all lenders calculate IRD the same way, and the differences can amount to thousands or even tens of thousands of dollars.
Early payout penalties are particularly important to consider if you are looking at a 10-year mortgage. If you break a 10-year mortgage before 5 years, the penalty with most lenders can be substantial. If there is a chance you could break the mortgage in the first 5 years, you may not want to consider a 10-year term.
Don’t let anyone tell you early payout penalties are “all the same”. They’re not. When choosing between mortgages, be sure to compare how the early payout penalty will be calculated. If you ever need to get out of your mortgage early, having the right mortgage could save you stress and big money. Advice on how to avoid painful penalties is part of the service I provide to my clients every single day!

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