Liz Ross Mortgages

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Liz Ross Mortgages

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Helping BC clients buy homes, save on interest, boost cash flow & sleep better at night. DM me “mortgage” to chat! 🏡✨

10/28/2026

🏦 BANK OF CANADA RATE UPDATE!

Economists were divided heading into this morning’s announcement, with some anticipating a rate increase while others expected the Bank of Canada to hold steady.

The Bank of Canada has increased its overnight lending rate by 0.25%, bringing it to 2.50% (prime rate is now 4.7%).

So, why the increase?

The biggest concern has been inflation. Rising energy prices, ongoing global uncertainty and increased costs for businesses have raised concerns that inflation could become more widespread.

With inflation reaching 3.1% in September, the Bank of Canada is looking to prevent further price increases and bring inflation back toward its 2% target.

🏡 What does this mean for your mortgage?

If you have a variable-rate mortgage or a home equity line of credit, you could see an increase in your borrowing costs.

If you have a fixed-rate mortgage, your current rate and payments won’t change as a result of today’s announcement.

Have questions about how this affects your mortgage? I’m always happy to help!

Liz Ross Mortgages

09/02/2026

After much anticipation, careful analysis and approximately 47 predictions from economists…

The Bank of Canada has decided to…

✨ do absolutely nothing ✨

Our policy interest rate of 2.25% holds again. Prime is still at 4.45%.

Sometimes boring news is good news 😂

09/01/2026

Sometimes getting ahead financially isn’t about finding more money. It’s about making the money you’re already spending work better.

Credit cards, lines of credit, loans and other monthly payments can add up quickly, especially when you’re carrying balances at higher interest rates.

If you own a home and have equity, refinancing may give you the opportunity to consolidate some of that higher-interest debt and reduce the amount of money going out every month AND save you way more in the long run.

Does it make sense for everyone? Nope. But sometimes restructuring what you already owe can make a BIG difference in your monthly cash flow.

If you feel like way too much of your money is disappearing into payments every month, send me a message. I can run the numbers and show you what your options look like. No pressure, just numbers. 😊

07/30/2026

How can a home that costs $100,000 more require $195,000 MORE for the down payment? 👀

Here’s why.

🏡 $1.45M purchase

The purchase price is under 1.5M so this mortgage can still be insured.

Minimum down payment:

5% of the first $500K = $25,000
10% of the remaining $950K = $95,000

Total minimum down payment: $120,000

🏡 $1.55M purchase

Now you’re into conventional mortgage territory (where this mortgage cannot be insured), and lender specific sliding scales can come into play.

Every lender is different, but one of the more favourable sliding scales available through my lenders allows:

80% financing on the first $1.5M
70% financing on the amount above $1.5M

On a $1.55M purchase, that means:

20% of $1.5M = $300,000
30% of the remaining $50K = $15,000

Total down payment: $315,000

That’s a $195,000 difference in down payment on a property that costs only $100,000 more. 🤯

It’s also a perfect example of why interest rate isn’t the only thing that matters when choosing a mortgage.

If your available down payment is limited, a lender with a slightly higher rate but a more favourable sliding scale could make a lot more sense than choosing the lowest rate but needing significantly more cash upfront.

There are a LOT of moving parts to a mortgage. My job is to compare the options and figure out which one makes the most sense for you. 🏡

Of course, every mortgage is different. Approval and available financing depend on income qualification, credit review, the property being purchased, and lender and insurer guidelines.

Questions about this or anything else? Reach out:)

06/10/2026

🏦 Bank of Canada Rate Announcement!

Well… they did it again 😅

The Bank of Canada held its overnight rate at 2.25% for the 5th consecutive announcement. At this point, they’re treating interest rates like the snooze button: “Let’s just leave it where it is for a little longer.” 😂

Why the hold? Inflation is still a concern, but the economy has slowed and there’s plenty of global uncertainty. Rather than risk cutting rates too soon or raising them unnecessarily, the Bank is sitting tight while it watches the data.

What does this mean for you?
✅ Variable-rate mortgages stay the same.
✅ Fixed rates will continue to move with the bond market.

📅 The next announcement is July 15. Will they finally make a move… or are we going for 6 straight? Stay tuned. 👀

05/06/2026

Happy dance because this feels like a big win ☺️

I haven’t been able to run AT ALL for almost 3 months due to a knee injury. So 2 km yesterday and 3 km today (actual run time) with little pain… feels like everything.

Not because of the distance… but because of what it means.

This is your reminder not to compare yourself to anyone else. It’s about your own progress and your own growth.

05/05/2026

Happy Cinco de Mayo 🇲🇽🌮🍹 Just here for the tacos… and good mortgage advice when you need it 😉

04/30/2026

The lowest rate doesn’t always mean best deal… and this is where people get burned 👀

04/28/2026

Tomorrow is the third Bank of Canada rate announcement of 2026… and it’s looking like a whole lot of nothing.. again 😅

Expected outcome: no rate change

Which means:
✔️ Prime likely stays around 4.45%
✔️ Variable rates hold steady
✔️ No immediate changes to payments

But don’t let “no change” fool you…

This is actually a really important window if you’re:
• Up for renewal this year
• Thinking about refinancing
• Trying to time a purchase

Because stability = opportunity to make a smart move without pressure

And please… don’t auto-sign your renewal 🙃
That’s how people leave money on the table

If your mortgage is coming up in the next few months, let me take a look and make sure it actually makes sense for you 😊

04/01/2026

🎉 And the winner is… Rachel Nicole!! 🎉

I just did the draw (watch the video!) and I’m so excited for you!! I’ll message you shortly to get your prize to you 😊

Honestly… thank you SO much to everyone who entered, tagged friends, shared, and supported me. Hitting 6 years in this business feels pretty crazy, and I wouldn’t be here without all of you ❤️

I don’t take a single referral, message, or conversation for granted — it truly means everything to me.

And as always, if you or someone you know has questions about buying, refinancing, or renewing, I’m always happy to help. No pressure, just good advice 🙂

Address

Nanaimo, BC

Website

http://www.lizrossmortgages.com/, https://linktr.ee/lizrossmortgages

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