OMAC Mortgages London, Ontario ~ Powered by TMG

09/17/2025

The Bank of Canada just lowered its rate to 2.50% 🎉 The first cut since March!
👉 This could mean:
✅ Lower interest costs
✅ More of your payment going toward principal
✅ Extra room in your budget
Every lender passes this on differently, so if you’re wondering how this benefits you, let’s chat. 💬

The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%.

09/17/2025

What today's decrease means for mortgages.

09/17/2025

Just announced!!!
Welcome news for homeowners with variable and adjustable rate mortgages!

The Bank of Canada lowered its key interest rate by 25 basis points to 2.5 per cent on Wednesday, marking its first cut since March.

07/30/2025

The Bank of Canada holds the overnight rate at 2.75% in today's announcement. For more details read the full BoC statement.

The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%.

09/16/2024

Fantastic news for first-time homebuyers!!!
As of December 15th 2024, the 30 year amortization policy will be extended to ALL first-time homebuyers. This will be of significant benefit for those trying to qualify for their first mortgage and in turn allow more Canadians to realize their dream of homeownership.
It was also announced the cap for insurable mortgages will increase from $1 million to $1.5 million.
We're proud to be a long-time members of an integral association that helped make these policy changes happen.
It was a direct result of Mortgage Professionals Canada's tireless advocacy and the collective efforts of our fellow members. We worked hard to let the government know what challenges faced Canadians when it came to purchasing a home.
We will continue to advocate for a fair, transparent, and affordable housing market that works for all Canadians.

The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, today announced a suite of reforms to mortgage rules to make mortgages more affordable for Canadians and put homeownership within reach:

09/16/2024

Huge news today for First-time homebuyers!!!
As of December 15th, 2024, the Liberal government will expand the availability of 30 year amortizations to ALL first-time homebuyers. This will allow more Canadians to qualify for a mortgage and realize their dream of homeownership!
The government will also increase the maximum insurable mortgage from $1.0 million to $1.5 million.
What wonderful news and fantastic way to start the week!

Finance Minister Chrystia Freeland announced proposals Monday to expand the availability of 30-year amortizations and to raise the price cap for insured mortgages.

03/22/2024

OMAC Mortgages had a good run, however it was time to take things to another level. Formally, as of this week, our Brokers and Agents in the London and surrounding area, are now a part of TMG The Mortgage Group. We are still providing the same great service, just under a new banner. Thank you for your continued support!

01/25/2024

If you're at the London Lifestyle Homeshow this weekend, please be sure to drop by the OMAC Mortgages booth and say hello!
The OMAC team looks forward to seeing you there!

04/12/2023

The Bank of Canada stands pat for this meeting...No increase or decrease!!!
This is good news for people with Variable rate mortgages and lines of credit.