http://www.michellecodronmortgages.ca/

Michelle Codron Mortgages, #206/19141 Ford Road, Pitt Meadows, BC (2026)

02/17/2026

I hope everyone had a wonderful Family Day & Valentines Day weekend with the ones they love💕

Ps- Vienna got her first pirate pack at white spot🥹

02/12/2026

Winning a mortgage broker award in 2025 in a challenging market wasn’t on my bingo card this year. I am the first one to be the hardest on myself and compare myself to others wins.

Doing it while raising our daughter? That’s the part that makes me most proud. There was no time off for mat-leave taken and no daycare until last fall… it all seems like a blur. Having a business that allows me to raise my little girl and be successful, is really the goal at the end of the day.

Some days were powered by coffee and sheer will.
Some nights were spent answering emails after bedtime stories.

Proof that you can build a career and a life at the same time.

Thank you to every client who trusted me with one of the biggest decisions of their life. This one’s for us. 🏆🤍

10/29/2025

🚨 Rate Drop Alert! 🚨
The Bank of Canada just cut rates again — down 0.25% 🔻
The key rate now sits at 2.25%! Which brings your Prime rate to 4.45%
That’s the 9th cut since last June 😲

🏡 Homeowners + Buyers:
If you’ve got a variable-rate mortgage or are thinking of buying soon, your rate (and payment) could dip in the next few days.

💰 Expect around $13 less per month for every $100K borrowed (on a 25-year amortization). This affects variable rate mortgage holders and lines of credit.
*Fixed rates are not affected by this announcement*

The Bank’s making moves because the economy’s showing some weakness — slower growth, higher unemployment, and shaky business confidence — even though inflation crept up a bit.

Next update: Dec 10 🗓️
Think we’ll see another cut before year-end? 👀

08/08/2025

“Excuse me, I’m on the phone with a client” 🤫

The cutest mortgage assistant there ever was, hard at work💕Happy Friday Everyone🥰

12/11/2024

ENTER everyone in the real estate industry posting today🤓AND FOR GOOD REASON!
The Bank of Canada reduced the overnight lending rate by 0.50%. This cut was another highly anticipated cut and very much welcomed for all variable rate mortgage holders.

Prime rate is now at 5.45%

If you currently hold a variable rate mortgage with an adjustable payment, your payments will decrease by $30 monthly, per $100,000 borrowed. For instance, if you have a $500,000 mortgage amount, your payments will decrease by $150 per month.

For Variable rate mortgage holders with a static payment, your payment remains unchanged BUT the amount your are paying to principal will increase and the amount paid to interest will decrease = paying off your mortgage faster.

This will also help with interest relief for all lines of credit.

If you have been wanting to purchase or refinance, your overall borrowing power has now increased so I would check with your mortgage broker to see how this impacts qualifying.

Please note that this does not directly impact fixed rates, however, there is typically a lagging indicator for decreases in the bond market in the coming weeks, that drives our fixed rates.

This was the last Bank of Canada Announcement for 2024. Stay tuned for what 2025 has in store for us. It has already been a strong end to 2024 and I predict a great start to 2025. The First BOC announcement for 2025 is January 29th.

Variable rates are highly recommended, especially with the decreases occurring. More and more clients have been selecting variable rate mortgages lately and for good reason! Remember, that you can lock into a fixed rate in the future when rates have decreased further, penalty free, if you are ever not wanting to ride the wave of variable.

If you are ever unsure of what this all means for you, please reach out!

10/23/2024

If your social media’s haven’t been bombarded enough since 6:30am PST, here’s another one! The Bank of Canada reduced the overnight lending rate by 0.50%. This cut was highly expected and very much welcomed for all variable rate mortgage holders.

If you currently hold a variable rate mortgage with an adjustable payment, your payments will decrease by $30 monthly, per $100,000 borrowed. For instance, if you have a $500,000 mortgage amount, your payments will decrease by $150 per month.

For Variable rate mortgage holders with a static payment, your payment remains unchanged BUT the amount your are paying to principal will increase and the amount paid to interest will decrease = paying off your mortgage faster.

This will also help with interest relief for all lines of credit.

If you have been wanting to purchase or refinance, your overall borrowing power has now increased so I would check with your mortgage broker to see how this impacts qualifying.

Please note that this does not directly impact fixed rates, however, there is typically a lagging indicator for decreases in the bond market in the coming weeks, that drives our fixed rates.

The Next (as last) Bank of Canada Announcement for 2024 is on December 11th! Stay tuned for potentially another decrease, creating a strong real estate market start for 2025!

09/07/2024

Feel Good Friday😎

It’s been a while since I have made a mortgage post, so I thought today’s the day🙂 What a crazy week it’s been getting back to reality after time away.
✅Bank Of Canada Announcement: Prime Rate decreased for the 3rd consecutive time (affecting variable rate mortgages and lines of credit based off Prime), and more to come!
✅Successful Subject Removal
✅Accepted offers and Mortgage Approvals
✅Mortgage Transfer Approvals
✅3 new applications
✅Retaining awesome rate pricing for clients
✅Successfully took care of busy 7 month old and got work done😅

Now I just need to fit back into those jeans, post baby, in the above photo and I’m set🙃

The market is definitely heating up people. If you have been thinking about purchasing, refinancing or your mortgage renewal is coming up, I would definitely start inquiring into the process to get set up for success. I would love to chat if you have any questions.

Cheers Everyone and Have an Awesome Weekend🥂🍷🍾

03/07/2024

💥BANK OF CANADA ANNOUNCEMENT💥

Today, was the second of eight, Bank of Canada Announcements for 2024. The overnight policy has remained unchanged for the 5th consecutive meeting.

This directly impacts the Prime Rate, which affects Variable rate mortgage holders. Payments will remain unchanged, even though inflation decreased to 2.9% in January - no change is better than an increase!

MANY clients cannot wait to see the decrease in Prime Rate start to occur this year. We hear you! Payment relief for current borrowers, as well as, having the qualifying rate relief for new purchasers or anyone renewing or refinancing, will be an amazing feeling for all.
Some economists are more optimistic than others, stating that a potential decrease may occur at the April Bank of Canada Announcements, while others are saying June.

What are your thoughts?!

The current Prime Rate is 7.20%.

The next Bank of Canada Meeting is in 5 weeks on April 10th 2024. I believe there could be a decrease in April but it could be wishful thinking!

If you have a purchase, renewal or refinance coming up in 2024, this is a great time to start getting prepared and go over all your options available to you! Selecting the right lender, product & term for your specific situation is crucial to your short and long term goals. I would love to chat!

Please reach out if you have any questions or comments☺️

Cheers🥂

01/24/2024

💥BANK OF CANADA ANNOUNCEMENT💥

Today, was the first of eight, Bank of Canada Announcements for 2024. The overnight policy has remained unchanged for the 4th consecutive meeting.

This directly impacts the Prime Rate, which affects Variable rate mortgage holders. Payments will remain unchanged, even though inflation did tick up slightly for December 2023 - no change is better than an increase!

MANY clients cannot wait to see the decrease in Prime Rate start to occur this year. We hear you! Payment relief for current borrowers, as well as, having the qualifying rate relief for new purchasers or anyone renewing or refinancing, will be an amazing feeling for all.
Some economists are more optimistic than others, stating that a potential decrease may occur at the April Bank of Canada Announcements, while others are saying June.

What are your thoughts?!

The current Prime Rate is 7.20%.

The next Bank of Canada Meeting is March 6th 2024. We believe no change will occur during this announcement as well but I guess anything could happen!

If you have a purchase, renewal or refinance coming up in 2024, this is a great time to start getting prepared and go over all your options available to you! Selecting the right lender, product & term for your specific situation is crucial to your short and long term goals. I would love to chat!

Please reach out if you have any questions or comments☺️

Cheers🥂

12/07/2023

Had an awesome night lastnight with my girl attending the Xmas party! What a great way to kick off the Holiday Season🥰🎄
Love celebrating the holiday season representing my team

11/21/2023

💥October Inflation Report💥

Today's inflation report showed a continued improvement, mainly due to falling year-over-year gasoline prices. Inflation dropped to 3.1% in October, down from 3.8% in September.

The most significant contributors to inflation remain mortgage interest costs, food purchased at stores, and rent.

Economists have said:
"There is no need for the Bank to raise rates again, and they could begin to cut interest rates in the second quarter of next year.

This is promising news and should keep mortgages interest rates at bay, with hopefully no more increases! The bank of Canada policy rate is tied to the Prime rate, which affects Variable Rate mortgage holders, which seem to have peaked and hopefully they can start decreasing by spring/summer 2024. Our 5 year government bonds have been also decreasing, which puts pressure on fixed rates to start decreasing as well.

BOTTOMLINE: this is great news for current variable rate mortgage holders, clients wanting to get into the market and anyone who has upcoming mortgage renewals in 2024/2025.

The next Bank of Canada Announcement is Dec 6th 2023

Reach out if you would like to chat about how this affects you! 💁🏻‍♀️

Michelle Codron Mortgages

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