Kevin Lundy - Mortgages with Lundy

04/27/2026

📉 Could Rate Cuts Be Coming Next?

A recent update from TD suggests that while inflation is staying relatively controlled, the overall economy isn’t exactly firing on all cylinders. That combination is what’s shifting expectations toward potential rate relief.

The Bank of Canada policy rate forecast chart:
1. Rates are likely staying put in the short term
Most banks (TD, BMO, NBC) are calling for the Bank of Canada to hold around 2.25% through 2026. That tells us there’s no urgency driven by immediate rate hikes.

2. Gradual increases are expected later
By 2027, several lenders (RBC, Scotiabank, CIBC/NBC) are forecasting rates drifting up into the 2.75%–3.25% range. Nothing dramatic, but a clear upward bias.

3. No one is predicting a big drop
This is the key message. There’s no strong expectation of meaningful rate cuts. The best-case scenario is stability, not significantly cheaper borrowing.

Right now, the Bank of Canada is in a “wait and see” mode with its key rate sitting around 2.25%, and most economists don’t expect big moves unless the data clearly changes.

👉 What this means for you:

- If they’re buying or refinancing now:

Waiting for much lower rates may not pay off
Locking something reasonable today could look smart in hindsight

- If they’re up for renewal in 12–24 months:

Plan for slightly higher payments, not lower
Good time to review debt, cash flow, and options early

- If they’re variable:

Likely stable in the near term, but risk tilts upward over time
Helps frame whether they’re comfortable riding that out

We’re in a market where things can shift quickly. Having a plan in place instead of reacting later can make a big difference.

If you’ve got a renewal coming up or just want to understand your options, feel free to reach out.

Kevin Lundy
Mortgage Agent
📧 [email protected]

📞 613-979-5433

04/06/2026

**What’s really driving mortgage rates right now? (It’s not just the Bank of Canada)**

A couple weeks ago, the Bank of Canada held its key rate at **2.25%** and the next Bank of Canada (BoC) interest rate announcement is scheduled for Wednesday, April 29, 2026.

But here’s the part most people miss 👇

👉 **Fixed mortgage rates have still been moving… and in many cases rising**

Why?

It comes down to global events.

The ongoing conflict involving Iran has pushed oil prices higher and created uncertainty in financial markets. That’s driving up **bond yields**, and those bond yields are what lenders use to price fixed mortgage rates.

Right now:
• 5-year fixed rates are sitting roughly in the **4.00%–4.50% range** depending on the deal.
• Variable rates are more stable because the Bank hasn’t moved
• Markets are still debating whether rate hikes could come later this year

👉 Translation: even when the Bank “holds”… your mortgage options can still change.

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**What this means for you**

• If you’re renewing soon → your rate might already be higher than expected
• If you’re buying → timing and strategy matter more than ever
• If you’re variable → you’ve had stability, but uncertainty isn’t gone

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**Bottom line**

We’re in a market where **global events (like oil and geopolitics)** are influencing your mortgage just as much as Canadian policy.

That’s why there’s no one-size-fits-all answer.

If you want to walk through your situation or see what your options look like today, feel free to reach out.

www.mortgageswithlundy.com

04/01/2026

⛽ Gas prices are jumping… but this is the part nobody’s talking about 👇

Over the last few days:

Gas jumped 14 cents in a weekend
Diesel is up as much as 45 cents
And costs across transportation are rising fast

Most people stop there.

But here’s what actually matters…

🚛 Diesel runs the economy.
Every truck, farm, shipment, and delivery depends on it.

So when diesel spikes → everything gets more expensive.

Groceries. Travel. Materials. Daily life.

And that leads to one thing:

📈 Inflation sticking around longer than expected.

Which brings us to mortgages…

🏡 Here’s the connection most people miss:

If inflation stays high:

The Bank of Canada can’t cut rates as planned
Variable rates stay higher
Fixed rates can move up again

There are even scenarios being discussed where oil could spike much higher, which would push mortgage rates up again instead of down.

💭 What should you be thinking about?

Renewing soon? Timing matters right now
In a variable? Know your exposure
Buying? Rate direction isn’t as predictable as it looked a few months ago

👉 Bottom line:
Global events are now directly tied to your mortgage and your monthly payment.

If you want to walk through what this means for you, reach out anytime.

12/09/2025

Renovating but don’t want to drain your savings?
A second mortgage lets you use the equity in your home to fund renovations at a much lower cost than credit cards or unsecured loans.

You keep your existing first mortgage, and the second mortgage covers the renovation. Financing within 1 to 2 weeks in most cases.

If you’re planning a renovation and want to explore your options, reach out to Kevin at [email protected]

12/02/2025

If credit cards are eating up your monthly cash flow, you’re not alone. High-interest balances can make it tough to get ahead, even when you’re doing everything right.

The good news? There are solutions.

I help homeowners roll high-interest credit card debt into one simple, lower-cost option so your money goes further each month. It can also give your credit score the breathing room it needs to rebound.

If you’re ready to take control of your cash flow and finally get some relief, let’s talk.
A quick conversation could save you a lot of stress.

Let's talk
[email protected]
613-979-5433

06/04/2025

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05/03/2025

Grand Opening - awesome burgers and great staff!

03/24/2025

The Ripple Effect: U.S. Tariffs on Canada and Their Impact on Mortgages and Home Sales

When the United States imposes tariffs on Canadian goods, the consequences reverberate beyond the immediate industries targeted. These economic measures can have far-reaching effects on the Canadian economy, influencing everything from employment rates to consumer confidence, and even impacting the housing market. Here’s a closer look at how U.S. tariffs affect Canada and their connection to mortgages and home sales.

Economic Slowdown and Its Housing Implications

Tariffs disrupt trade and often lead to higher costs for Canadian exporters. This can reduce demand for Canadian goods in the U.S. market, leading to slower economic growth. When industries such as steel, aluminum, or lumber are targeted, the effects are amplified because these sectors are major employers and contributors to Canada’s GDP.

A weakened economy tends to erode consumer confidence. Canadians may delay significant investments, such as purchasing homes, amid uncertainty. Furthermore, reduced employment opportunities or lower wages resulting from tariffs can affect household incomes, making it more challenging for prospective buyers to qualify for mortgages.

Lumber Tariffs and Housing Prices

The housing market feels a direct impact when tariffs are placed on Canadian lumber. Lumber is a key material in home construction, and increased costs are often passed on to consumers in the form of higher home prices. This makes housing less affordable, particularly for first-time buyers, and can slow down the pace of new home sales.

Rising home prices, combined with the existing stress-test requirements for mortgages in Canada, create a double-edged sword for buyers. Many may find themselves priced out of the market or unable to meet stricter lending criteria.

Mortgage Rates and Policy Adjustments

Economic uncertainty caused by tariffs can also influence interest rates. If the Bank of Canada anticipates a slowdown in economic growth due to trade tensions, it may adjust its monetary policy to keep borrowing costs low. Lower interest rates make mortgages more affordable, which could help counterbalance some of the negative effects of tariffs on the housing market.

On the other hand, prolonged trade disputes may lead to inflation if the cost of imported goods rises significantly. In such a scenario, the Bank of Canada might be compelled to raise interest rates to curb inflation, potentially increasing mortgage costs and cooling housing demand.

Regional Disparities

The impact of tariffs is not uniform across Canada. Provinces heavily reliant on exports to the U.S., such as Ontario and British Columbia, may experience more pronounced economic and housing market effects. For example, a decline in manufacturing activity in Ontario or a slowdown in lumber exports from British Columbia could ripple through local economies, affecting home sales and mortgage activity in those regions.

Navigating the Challenges

For prospective homebuyers and homeowners, navigating the uncertainties brought about by tariffs requires careful planning. Working with knowledgeable mortgage professionals who understand the interplay between economic factors and lending conditions is essential. They can help you assess your options and make informed decisions in a fluctuating market.

Final Thoughts

U.S. tariffs on Canadian goods create economic challenges that extend beyond trade. The housing market—a cornerstone of financial stability for many Canadians—is not immune to these effects. By understanding the connections between trade policy, economic health, and real estate, Canadians can better prepare for the potential ripple effects of tariffs on their financial well-being.

02/20/2025

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01/29/2025

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%.