RobertMogensen.com - Mortgage Broker

09/02/2026

NEWS - The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

The continuing conflict in the Middle East is keeping energy prices high. As well, new US tariffs and Canadian counter-measures have been announced following the breakdown of trade talks between Canada and the United States. Both situations remain fluid.

To discuss your Mortgage Strategy, reach me directly at: ☎️604.802.8193

06/10/2026

NEWS - Interest Rate Still Holding

The decision further pauses the Bank’s easing cycle as it continues to monitor inflation and economic conditions.

"The Bank of Canada continues to face a difficult backdrop in setting interest rate policy. Global uncertainty and trade tensions remain the top concerns for consumers as a key driver of price pressures. Canadians are facing growing financial strain, whether they are striving to purchase their first home or managing higher mortgage costs at renewal.”

- Lauren van den Berg, President and CEO of Mortgage Professionals Canada.

04/18/2026

How can you use a reverse mortgage?

Reverse mortgage funds can be used any way
you like. Popular uses include:

• Enhance retirement cash flow
• Pay off mortgage and other debts
• Manage the rising cost of living
• Cover unexpected costs
• Gift money to family
• Purchase another property
• Renovate or refurbish your home

Questions? Call me at (604) 802-8193 ☎️

Call now to connect with business.

04/14/2026

Did you know…

Reverse mortgage proceeds are tax-free, making CHIP Reverse Mortgages a strong complement to pensions and investment withdrawals.

Clients can choose Income Advantage for steady monthly income or CHIP for occasional lump sums—the tax impact is the same. The key is balancing home equity access with RRIF withdrawals and pension income.

For this and many other mortgage scenarios, reach out to me directly today.

07/28/2025

Bank of Mom & Dad

Are you a Canadian 55 and older trying to help your family with a down payment on their first home? It is more difficult now than ever to afford a home because of rising home prices – which means your family could benefit from help now instead of waiting for an inheritance.
Often referred to as a "warm inheritance" many Canadians are releasing equity in their own home, to provide the much needed down payment for their children or grand children. A reverse mortgage has no payments, the outstanding interest is added to the balance and paid out when you sell your home. The cash you withdraw from your home is TAX FREE! You retain ownership of your home, and you can live there as long as you able.

Feel free to contact me by phone 604-802-8193 to discuss your options.

07/10/2025

What is a Reverse Mortgage?

It’s a way to turn some of your home’s value into tax-free cash—without needing to make monthly payments. You can get up to 59% of your home’s value and still keep living in it.

Why Get One?
You can use the money to pay off debt, help your family, or just enjoy life more—without selling your home.

A Common Myth
“Do I lose my home with a reverse mortgage?”
Nope! You still own your home. The bank just has a regular mortgage on it, like any other loan.

Other questions, DM me today!

04/17/2025

Here’s a way to fund real estate investments—without taxable withdrawals. 🤔

Are looking to invest in real estate -but hesitant to dip into your retirement investments or trigger a taxable event? The CHIP Reverse Mortgage can be a strategic solution.

Here’s how it works:

Clients can access up to 55% of their home’s equity, tax-free—without triggering capital gains or taking on traditional debt.

Key benefits:
Fund investment property purchases or renovations—tax-free
Preserve investment portfolios and avoid taxable withdrawals
Maintain flexibility with no required monthly payments

Client Snapshot:

Tanya and Raymond, both in their 70s, wanted a vacation property for their family. Rather than sell investments, they used the CHIP Reverse Mortgage to access $875K from their $2.5M West Vancouver home—buying a $650K Cultus Lake property (plus a boat!) with equity to spare.

Let’s connect to explore how the CHIP Reverse Mortgage could work for you too. Call or email me—I’d be happy to walk you through it!

Happy Easter Long Weekend! 🐣🌸

04/15/2025

RATE NEWS - Just got a head's up from one of our major lenders that fixed rates, which are controlled by the Canadian bond market, are poised to rise as soon as tomorrow. If you are considering a purchase or a refinance, not a bad idea to get your application in now.

04/09/2025

Payments Optional Mortgage?

Trillions of dollars in investor wealth have been wiped out since last week. And while things are looking better today, we are in a time of incredibly high market volatility. If you are at or nearing retirement, now is not the time to be liquidating investments. Use your home equity (tax free) to fund your cashflow needs now and give your investments time to come back. The CHIP Reverse Mortgage helps you access the equity in your home with no monthly payments. And while the CHIP Reverse Mortgage is generally thought of as a long-term solution, it doesn’t have to be. You can use CHIP funds now and, once your portfolio has increased in value again, liquidate investments and payout the mortgage at that time (penalties may apply, ask us about timing). Given the market uncertainty, now is an excellent time to explore your options to ensure you are funding your retirement in the best possible way.

Always here to answer your questions.

Rob..

03/04/2025

You're not in this alone 🇨🇦

If you're hearing all this news about the tariff war and feeling nervous about what it means for your mortgage or the housing market — you're not alone. With so much uncertainty in the air, it's completely normal to have questions about how this could impact your payments, interest rates, or even home values.

Here's the good news — Canada's mortgage system is designed to protect homeowners through uncertain times. The market might shift, but there are always options to help you stay on track. Whether you're thinking about locking in a fixed rate, refinancing to free up cash flow, or simply looking for advice on your next move — I'm here to walk you through it.

My job isn't just to get you a mortgage — it's to help you feel confident in your financial decisions, no matter what's happening in the world. Let's have a conversation, review your options, and make sure your mortgage is working for you — not against you.

You're not in this alone — let's navigate this together.

☎️604.802.8193

[email protected]