What are the opening hours?

Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 5pm

Brad Plummer - Referral Mortgages Inc. #13316

Home
Canada
Ottawa, ON
Brad Plummer - Referral Mortgages Inc. #13316

Directions Website

Brad Plummer is an award-winning mortgage broker in Carleton Place, Ontario. Brad helps clients across Ontario achieve their homeownership goals.

With over a decade of experience, he makes the mortgage process simple and stress-free.

11/03/2026

A Toronto company wants to let you buy a home without selling your Bitcoin. Here's what we know, what we don't, and the questions I'd ask before signing up.

What's been announced (Oct 28):
- APX Lending plans to launch Bitcoin-backed mortgages in Canada in the first quarter of 2027, for "eligible borrowers in supported jurisdictions." There's a waitlist now.
- You'd pledge your Bitcoin as collateral instead of selling it. APX told CoinDesk it could be used for a down payment or even the full purchase price, with the home also serving as collateral in a full-purchase case.
- APX's example: a buyer could borrow $95,000 for a 20% down payment by pledging $190,000 in Bitcoin.
- Its existing crypto-backed loans carry rates of 9.99% to 11.49% and are sized at a 60% loan-to-value. APX says those terms don't necessarily apply to the mortgages.

What we don't know yet: the mortgage rates, terms, loan-to-value limits, which provinces it will be offered in, and exactly when a falling Bitcoin price would trigger a margin call or a forced sale. APX says it will publish the terms before launch.

The big risk is volatility. On APX's current loans, if the loan grows to 90% of the value of your Bitcoin, it sells enough Bitcoin to bring that back to 85%. APX's CEO, Andrei Poliakov, told CoinDesk that a 40% drop in Bitcoin's price would push a loan that started at 50% loan-to-value to about 83%. He says a mortgage backed by both Bitcoin and the home would be assessed differently, and that "selling bitcoin collateral and enforcing a mortgage against a home are distinct actions." Whether a shortfall could put the home itself at risk would depend on the loan agreement.

My general take, if you're an Ontario buyer holding crypto:
- Wait for the actual terms. A product with no published mortgage rate isn't something you can compare yet.
- Compare it with the plain option. For context, big-bank prime is 4.70% after the Oct 28 Bank of Canada hike. If the Bitcoin-backed rate lands anywhere near APX's current 9.99% to 11.49% loan rates, that's a big premium to keep your coins. What a traditional mortgage would cost you depends on your file, so let's price your real options rather than an advertised number.
- Stress-test it. Ask yourself what happens to your home and your Bitcoin if the price falls 40% or 50% in a few months. It has happened before.
- Know how lenders see it. Lenders want to know where your down payment comes from. A down payment you borrowed is treated very differently from savings, and the payment on that loan can count against how much mortgage you qualify for.
- Talk to your accountant. APX markets the product as a way to buy without "triggering capital gains tax from a sale." Get tax advice for your own situation before you count on that.

Got crypto and thinking about buying? Send me a message. I'll show you your options side by side, including the traditional route, so you can make the call with real numbers.

Brad Plummer, Mortgage Broker
Referral Mortgages Inc. | FSRA #13316
This is general information, not personal financial, tax or investment advice.

11/02/2026

Thinking about buying your first home in Canada? Here’s a straightforward update.

First-Time Buyer Programs: Know Your Options
Did you know first-time home buyers in Canada have access to multiple government programs to save thousands?
Over the next few weeks, I’ll break them down so you don’t miss out. Stay tuned! 🗝️💬

11/02/2026

Last Wednesday's Bank of Canada rate hike was the first in three years. The big question I'm getting now: is that it, or is this the start of something?

The Bank won't say. Its Oct 28 statement says "there could be a need to increase the policy rate further," but that it will "proceed carefully." Mortgage commentator Rob McLister summed it up in his headline the same day: one-and-done rate hikes are "basically Canadian unicorns."

History backs him up. National Bank looked at every Bank of Canada hiking cycle since it started targeting the overnight rate in the 1990s:
- Over the last seven cycles (1997 to 2023), the Bank hiked an average of 6 times, for a total of about 2 percentage points, over roughly a year.
- The shortest cycle, in 2010, was still 3 hikes (0.25% to 1.00%).
- Every cycle since 2000 started with back-to-back hikes.
- The most recent one, 2022–23, was 10 hikes, from 0.25% to 5.00%.

That said, this cycle is different. It's starting from 2.25%, not near zero. National Bank notes the last time that happened (1999), the Bank stopped after just four hikes over six months. And most forecasters expect a short one this time:
- CIBC and Desjardins expect the Bank to skip December, add one more hike in January, then hold at 2.75%.
- Capital Economics is calling for two more hikes.
- After the announcement, markets put the odds of another hike on Dec. 9 at about 55%, down from 100% the day before (Bloomberg swap data, via Financial Post).
- Then on Friday, Statistics Canada said the economy was essentially flat in August for a second straight month, with an early estimate of -0.1% for September. As of Nov 1, markets put December hike odds at about 46% (RateProbability), with a hike by January still more likely than not.

Why it's happening: high oil prices. The Bank says inflation has been around 3% since April and should rise to about 3.5% by year-end. It now expects inflation to average 3% in 2027 and not get back to 2% until mid-2028. Desjardins' Royce Mendes called it "a tough, forward-looking decision that reduces the risk of a painfully aggressive tightening cycle down the road."

What another hike could mean for a variable payment (illustration only — your rate depends on your lender and product, not a posted "best" rate): on a $500,000 mortgage with 25 years left, each extra 0.25% on the rate adds roughly $65 to $70 a month near today's levels.
- One more Bank of Canada hike (the CIBC/Desjardins call to 2.75% overnight): about $65–$70 more per month on that example
- Two more hikes (the Capital Economics call): about $130–$140 more
- A cycle that matched the historical average of about 2 points in total (which nobody I've read is forecasting from here): several hundred dollars more a month

Big-bank prime moved to 4.70% after the Oct 28 decision (TD's mortgage prime is 4.85%). Variable contracts usually move with prime; fixed rates follow bond yields and can move on a different path.

My general take:
- If you're on a variable, budget as if there's at least one more hike coming. If an extra ~$70 to ~$140 a month would stretch you, let's talk about it now, not after the next statement.
- On a fixed-payment variable, check how close you are to your trigger rate. Two or three hikes add up.
- Thinking about locking in? Run your own numbers and check your lender's conversion options. The right call depends on your file and how much certainty you want — not on whoever is advertising the lowest rate that week.
- Shopping for a new mortgage or renewing soon? Get a rate hold now. It costs nothing and protects you if fixed rates keep climbing.

Next Bank of Canada decision: Wednesday, December 9. Want to see what one, two or three more hikes would do to your payment? Send me a message and I'll run your numbers.

11/01/2026

The Canada Mortgage and Housing Corporation (CMHC) put out its Fall 2026 Residential Mortgage Industry Report on Oct 27, and the most striking numbers in it are right here in Ontario, specifically in the private lending market around the GTA and Hamilton.

Here's what jumped out at me:

🔹 Private lenders are under real strain. Mortgage investment entities (MIEs), the private lenders many people turn to when a bank says no, now have 11.1% of their GTHA mortgage dollars 90+ days behind (Q1 2026). That was 3.0% in Q3 2023. For the rest of Canada it's 3.82%. CMHC's words: "GTHA MIE arrears could provide an early signal of broader mortgage market stress." Mortgage commentator Rob McLister put it more bluntly this week, calling private-lending arrears "on pace to quadruple."

🔹 The loans themselves have gotten riskier. In the GTHA private space, 69.7% of mortgages are interest-only. Uninsured private loans above 80% loan-to-value went from 1.6% to 9.2% of the book between Q1 2024 and Q1 2026, and borrowers with total debt payments above 60% of income went from 10.4% to 29.0%. CMHC calls that "nearly one-third."

🔹 Ontario bank and credit union borrowers are feeling it too, just less. Ontario's 90+ day arrears hit 0.32% in Q2 2026, up from 0.21% a year earlier, which CMHC says is approaching levels last seen around 2008. Year over year by city (Q2 2025 to Q2 2026):
• Toronto 0.24% → 0.33%
• Oshawa 0.24% → 0.32%
• St. Catharines–Niagara 0.24% → 0.31%
• London 0.18% → 0.27%
• Windsor 0.17% → 0.26%
• Hamilton 0.19% → 0.25%
• Kitchener–Cambridge–Waterloo 0.18% → 0.24%
• Ottawa 0.16% → 0.17%
CMHC expects Ontario to see the biggest increase in the country through mid-2027, and flags Toronto as the most exposed market, with pressure building in 905 communities like Brampton and Oshawa.

To keep it in perspective: the vast majority of Ontario homeowners are paying on time, and CMHC itself says "the largest renewal shock has likely passed."

My take, especially if you're in a private mortgage right now:

1️⃣ A private mortgage should be a bridge, not a home. They usually run 1–2 year terms at higher rates and fees. The day you sign is the day to start planning how you'll get back to a bank or B lender.
2️⃣ Interest-only feels easy but doesn't move you forward. If your balance isn't going down and values aren't going up, your options at renewal shrink.
3️⃣ Don't assume your private lender will just renew. With arrears this high, many are tightening up. Start the conversation 4–6 months before maturity, not 4–6 weeks.
4️⃣ Fix what got you there. Credit, income documentation, or too much other debt: whatever pushed you to private lending, a plan to clean it up is what gets you out.
5️⃣ If you're falling behind, call before you miss a payment. There are far more options before arrears than after.

If you've got a private or B-lender mortgage coming up for renewal in the next year, or you're not sure how to get back to a mainstream lender, send me a message. Happy to look at it with you, no cost and no pressure.

Brad Plummer, Mortgage Broker
Referral Mortgages Inc. | FSRA #13316

Sources: CMHC Residential Mortgage Industry Report, Fall 2026 (Oct 27, 2026); Mortgage Logic News, "The Private Lending Canary is Coughing" (Oct 27, 2026). This is general information, not personal financial advice.

10/31/2026

Halloween is here! 👻🎃 Embrace the spooky, the sweet, and everything in between. Put on your best (or funniest) costume, snap some pics, and share your Halloween moments with us 🕸️🕷️🦇. Have a safe, candy-filled night! 🍬🍭

10/31/2026

The GTA condo market is still correcting. The latest numbers matter whether you're buying your first place or closing on a pre-construction unit you bought years ago.

September by the numbers (TRREB, released Oct 6):
- 1,316 condo apartments sold across the GTA, down 7.8% from September 2025.
- Average price: $605,257, down 7.7% year over year. In the City of Toronto the average was $640,248 (down 6.1%). In the 905 it was $533,654 (down 12.0%).
- Canadian Mortgage Professional calculates that the GTA average is now 24.3% below February 2022, just before rates started rising.
- At the end of September there were 8,226 condo apartments for sale in TRREB's area. That's roughly six listings for every sale in Toronto (Buildups' analysis of TRREB data).

The regulator is watching too. OSFI's Annual Risk Outlook says condo sales in Toronto and Vancouver "have fallen to levels not seen since the 1990s," and "many new condos are now worth less than their presale purchase prices." That can leave buyers needing "a larger down payment to qualify for their mortgage" when they close.

When does it turn? CMHC deputy chief economist Aled ab Iorwerth told CMP: "We're in a bottoming process. In 2028, assuming the economy is recovering, I think we would be past it." He's also worried about how few new condos are being started: "where is all the housing going to be that we're not building right now?"

New condos tell a similar story. Urbanation's Q3 survey (released Oct 19) counted 760 new condo sales across the GTHA from July to September. That's double a year earlier, but still 78% below the 10-year average for a third quarter. Investment groups bought 339 of those units in bulk at an average of $763 per square foot, about 40% below what the original buyers in the same buildings paid. Pre-construction sales fell to just 60 units, and only 381 new condo units started construction. Urbanation president Shaun Hildebrand says the supply pipeline is "drying up, setting the market up for a significant shortage by the end of the decade."

What this means for you (my general take):

If you're buying: in much of the GTA, this is a buyer's market for condos. You have time to compare, negotiate and be picky. Focus on layouts people actually want to live in. Wahi found microunits are losing value at about twice the pace of larger condos (via CMP). Read the status certificate and check the reserve fund. Get pre-approved so you can move when the right unit shows up.

If you're closing on a pre-construction condo: lenders generally lend on the lower of the appraised value or your purchase price. If the appraisal comes in low, you cover the difference. So:
- Get an appraisal done early, ideally 90+ days before closing, so you know your gap.
- Line up your options now: more cash, a family gift, a different lender, or an assignment if your contract allows it.
- Talk to a real estate lawyer before you even think about walking away. In one 2024 Ontario case (Mattamy v. Ishola, a freehold pre-construction home), a buyer who didn't close was ordered to pay $87,714.49 in damages plus interest, after the $14,000 deposit was credited.

Closing on a condo in the next year, or thinking about buying one? Send me a message and I'll help you figure out your numbers and your options.

10/30/2026

Thank you for trusting us.
Grateful for our amazing community today! Your support means everything to us. We appreciate your referrals and continued support! 🙌💙 Your trust helps us grow and serve you better every day. If you know someone who could benefit from our services, share the love and spread the word. 💌🤝

10/30/2026

If you bought or last renewed a mortgage in Ontario in 2021 or 2022, your renewal is probably coming up soon. That's exactly where the pressure in Canada's mortgage market is building.

Here's what the latest data says:
- Canada's bank regulator, OSFI, says 3.1 million mortgages, or 52% of all mortgages in Canada, renew by the end of 2027 (as of January 2026). About 1.3 million of those are fixed-rate or fixed-payment variable mortgages renewing for the first time since the low-rate years of 2021 and 2022. OSFI expects these borrowers "will experience material monthly payment increases."
- Ontario's mortgage delinquency rate (payments 90+ days late) was 0.36% in the first quarter of 2026. That's up 52% from a year earlier, according to Equifax data reported by The Globe and Mail. In Toronto it rose 58% to 0.38%. In Brampton it rose 64% to 0.64%.
- Equifax's latest quarterly report (Q2, released Aug 24) says missed mortgage payments in Ontario "have risen every quarter for the last 4 years." The 90+ day delinquency rate for Ontario mortgage holders on their other debts, like credit cards and car loans, reached 0.86%, up 27% from a year ago.
- CMHC says pandemic-era first-time buyers in high-priced markets are the group most at risk, and that Toronto "faces the strongest and most persistent increase in delinquency risk."

Keep it in perspective: CMHC also points out that arrears are still historically low, and that Canadian homeowners have been "remarkably resilient." Most people are making it work. The ones who struggle tend to be the ones who wait until the renewal letter shows up.

And on Oct 28 the Bank of Canada raised its rate for the first time in three years, to 2.50%, and said more hikes may be needed. That doesn't directly move fixed rates, which follow bond yields, but it's one more reason not to leave your renewal to the last minute.

What a renewal can look like (my illustration, not a quote and not an offer): a $450,000 mortgage taken in 2021 at 1.99% for five years, on a 25-year amortization. Payment: about $1,903 a month. After five years you'd owe about $376,900. Renew that in the mid-4% range — say 4.50% for this example — over the remaining 20 years, and the payment jumps to about $2,376. That's about $473 more every month.

Many renewing borrowers have softened the hit by stretching their amortization back out. CMHC notes "most mortgage consumers chose to increase their amortization period." In my example, resetting to 25 years would bring the payment to about $2,086, only about $183 more than before. The catch: if that same rate held the whole way, stretching the amortization would add roughly $56,000 in interest over the life of the mortgage. Not every lender or mortgage allows it. Your actual rate depends on your file, the product, and the lender — advertised "lowest" rates often don't apply.

What this means for you (my general take):
- Renewing in the next 12 months? Start now, not 30 days before. Many lenders will hold a rate for a few months ahead of your renewal (how long depends on the lender).
- Don't just sign the renewal letter. Your lender's offer is a starting point. Since November 2024, uninsured borrowers who do a "straight switch" to another federally regulated lender at renewal no longer have to pass the stress test, as long as the loan amount and remaining amortization don't increase (OSFI). Shopping around is easier than most people think.
- If the payment jump will hurt, map out your options before renewal day: term length, amortization, using prepayment privileges now, or rolling high-interest debt into a better structure.
- If you're already falling behind on anything, talk to me (or your lender) early. Options shrink once payments are missed.

Renewing in 2026 or 2027? Send me a message. I'll run your renewal numbers and shop your mortgage before your lender's letter shows up.

10/28/2026

The Bank of Canada raised its key interest rate this morning, its first hike in about three years.

Here's what happened:
- The overnight rate went up 0.25%, from 2.25% to 2.50%.
- The Bank said it's worried that high energy prices (gas, diesel, heating oil) could spread into the price of everything else. Headline inflation has been around 3% since April, mostly because of gasoline.
- The Bank now expects inflation to stay above 3% through much of 2027 and not get back to its 2% target until about mid-2028.
- It also said "there could be a need to increase the policy rate further," but that it will "proceed carefully" and take it one meeting at a time.

How this reaches your mortgage:
The big banks set their prime rate off the Bank of Canada's rate. When the Bank moves, they usually move prime by the same amount, often effective the next business day. Prime has been 4.45% at the major banks, so it's likely to go to about 4.70% once the banks announce.

- Variable-rate mortgage with adjustable payments: your rate rises by about 0.25% and your payment goes up soon after.
- Variable-rate mortgage with fixed payments: your payment may not change, but more of it goes to interest and less to the principal. Check whether you're close to your trigger rate.
- HELOC or secured line of credit: these are tied to prime, so the interest rate goes up right away.
- Fixed-rate mortgage: nothing changes until renewal. Fixed rates follow bond yields, not the Bank of Canada directly.

What it could cost (my estimates, not quotes; 25-year amortization, rate going from 3.70% to 3.95%):
- $400,000 balance: about $55 more a month
- $500,000 balance: about $68 more a month
- $600,000 balance: about $82 more a month
- HELOC: about $21 more a month in interest for every $100,000 you owe

What Ontario homeowners should do next (my general take):
- On a variable or a HELOC? Look at your next statement and confirm the new rate and payment. Budget for the possibility of more hikes in 2027.
- Thinking about locking in? Compare what you'd get on a fixed rate against your current variable before you decide. Locking in isn't always the right move, and penalties and terms matter.
- Carrying a HELOC balance? This is a good time to talk about a plan to pay it down or restructure it at a better rate.
- Renewing in the next 12 months? Start early. Many lenders will hold a rate for a few months ahead of renewal.

If you want to know exactly what today's change means for your mortgage or line of credit, send me a message and I'll run your numbers.

10/28/2026

Building confidence, one mortgage at a time.
Thinking about buying a home or refinancing your current one? You’re not alone 🏡✨ We’re here to help you navigate mortgages with clarity and care. Real people. Real guidance. A brighter tomorrow. 💪🤝 Our team breaks down options, explains jargon in plain language, and supports you every step of the way—from application to closing. Ready to start? Drop a comment or DM us today! 📬📈

Address

157 Bridge Street, Carleton Place
Ottawa, ON
K7C2V6

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Website

http://www.bradplummer.ca/

Alerts

Be the first to know and let us send you an email when Brad Plummer - Referral Mortgages Inc. #13316 posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.