The Mortgage Professionals - Jeff Dillon & Mitch Thibodeau, Lic. #10280

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

04/27/2026

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!

01/29/2025

The Bank of Canada has lowered the overnight rate by another .25% to 3.0%. This is the 6th decrease since June. The overnight rate has now decreased by 2.0% since last summer.

The BoC cited rising unemployment, slowing population growth and the threat of U.S tariffs as reasons to decrease the rate.

This decrease will directly impact all variable rate mortgages. Fixed rates remain unchanged.

01/15/2025

With interest rates at a more reasonable level and a lot of people sitting on the sidelines for the past couple years, we are expecting a busier spring market this year.

If you're looking to buy this spring/summer, it's never too early to start preparing and getting pre-approved. A pre-approval will:

- Hold an interest rate for you for 120 days
- Let you know how much you can afford
- Make you more desirable as a buyer
- Make it easier for realtors to work with you

12/11/2024

The Bank of Canada has reduced its overnight rate by another .50% today, marking the fifth consecutive decrease this year.

Variable rate mortgages will be directly impacted by the drop in rates, but it remains to be seen if fixed rates will be adjusted as a result of the announcement.

Either way, it's nice to see the government providing Canadians with a little breathing room after a long stretch of increased rates.

11/06/2024

If your mortgage is with First National Financial LP, you can win a $20K prepayment against your mortgage by entering their contest.

1) Follow this link: https://www.firstnational.ca/residential/contest
2) Log in to My Mortgage (online mortgage portal)
3) Click on the contest entry image
4) Sign up for electronic Annual Statements (if you already receive electronic statements you can still enter the contest)

Contest closes December 15th. Good luck to all!

First National residential customers can enter for a chance to win a $20K mortgage prepayment!