Mitch Thibodeau - Mortgage Broker

05/14/2026

Thanks to MCAP for a great breakfast and learning session this morning. It's always great to meet up with our industry counterparts and learn from some of the best in the business.

04/27/2026

04/23/2026

Nice to get outside today and take a break from the office to help clean up our city. It's amazing how much garbage you can collect is such a small area.

01/21/2026

If I'm being honest, I was not aware that this was going on but thank you nonetheless for those who voted for me. Your support is greatly appreciated!

12/10/2025

The Bank of Canada met today but did not make any changes to the overnight lending rate. They believe that the current rate is "about right" given current economic conditions. Even though global uncertainty remains elevated, economic strength at home gives the BoC reason to stay on hold. Third quarter GDP was surprisingly strong and job growth has remained solid.

With that said, we did see a small increase in fixed rates late last week (approx. .20%) which we are hoping is just a temporary blip. Fixed rates remain in the 4.24% - 4.59% range in most cases.

10/29/2025

The Bank of Canada has cut the overnight rate by another .25% this morning due to ongoing weakness in the economy and inflation expected to remain close to the 2% target. This will very likely cause a reduction in the Prime lending rate to 4.45% causing all variable rate mortgages to drop by .25%.

When these rate cuts happen, the most common misconception is that ALL mortgage rates are dropping by .25%. This is largely due to the media doing a poor job of explaining what the rate cut means. It's important to note that fixed rates rarely change as a result of the Bank of Canada announcements.

Please reach out if you would like to know if/how this rate announcement impacts you.

Also....Go Jays!

10/23/2025

Had a great start to the week at our National Mortgage Conference in Ottawa. Thanks to Mortgage Professionals Canada for putting on another great event.

It’s always inspiring to listen to the fantastic keynote speakers and learn from so many industry greats. I feel lucky to be a part of such a great group.

Icing on the cake was enjoying two big Blue Jays wins with friends and colleagues!

Photo credit to Tina Howard, Mortgage Agent who is much better at capturing the memories than I am.

09/17/2025

The Bank of Canada has decreased the overnight rate by .25% today, the first decrease since March. This will result in a decrease to all variable rate mortgages but likely no changes to fixed rates, at least not yet.

The Bank of Canada noted that "with a weaker economy and less upside risk to inflation, it judged that a reduction in the policy rate was appropriate to better balance risks."

09/12/2025