Doug Smith Mortgage Agent

03/18/2026

03/18/2026

Bank of Canada announcement today! Stay tuned

02/18/2026

Ever wonder why banks send sky-high renewal rates? 😏 They bank on you auto-renewing! They bank on you being LAZY!

Ontario fix: Talk to a mortgage agent, pit offers against each other. I dropped 0.5% and pocketed thousands. 💰

Pro tips:
- Start early (120+ days)
- Compare fixed vs variable
- Say NO to the first offer

12/10/2025

Rate update from the Bank of Canada — 2.25 % remains the benchmark overnight rate.

✅ What this means: The BoC is holding rates steady for now — no new cuts, no hikes … yet.

💡 For Canadians: Borrowing costs — like variable-rate mortgages, loans and lines of credit — should stay roughly the same for the time being.

📊 The Bank says the current rate helps keep inflation near the 2% target while giving the economy some room to adjust.

📉 🔁 In short: stability for now — but keep an eye out: many economists expect interest rates to hold throughout 2026, unless economic conditions change.

11/27/2025

Prices are stabilizing in many regions.

Thinking of buying? Now might be the right time!

09/26/2025

🏡 Are you thinking about buying a home in Ontario? Here’s what you should know about mortgages:

✅ Minimum Down Payment
• Homes under $500K → 5%
• $500K–$999K → 5% on the first $500K + 10% on the remainder
• $1M+ → 20% minimum

✅ Mortgage Stress Test
You must qualify at the higher of:
• 5.25% (current benchmark rate) OR
• Your lender’s rate + 2%

✅ Types of Mortgages
• Fixed Rate 🔒 (predictable payments)
• Variable Rate 🔄 (linked to Bank of Canada changes)

✅ Closing Costs
Don’t forget land transfer tax, legal fees, and home inspection!

09/26/2025

🏡 Are you thinking about buying a home in Ontario? Here’s what you should know about mortgages:

✅ Minimum Down Payment
• Homes under $500K → 5%
• $500K–$999K → 5% on the first $500K + 10% on the remainder
• $1M+ → 20% minimum

✅ Mortgage Stress Test
You must qualify at the higher of:
• 5.25% (current benchmark rate) OR
• Your lender’s rate + 2%

✅ Types of Mortgages
• Fixed Rate 🔒 (predictable payments)
• Variable Rate 🔄 (linked to Bank of Canada changes)

✅ Closing Costs
Don’t forget land transfer tax, legal fees, and home inspection!

💡 Tip: Working with a licensed Ontario mortgage agent gives you access to multiple lenders, better rates, and tailored advice vs. just one option at your bank.

09/23/2025

The Bank of Canada has lowered its rate by 0.25%.

Note that this doesn't mean a decrease in your fixed-rate mortgage payment.

Instead, it means variable-rate mortgage holders can expect a reduction.

08/24/2025

1st tournament, and lots of prizes taken home!