Alex Garner - Mortgage Broker

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Richmond, BC
Alex Garner - Mortgage Broker

Mortgage Broker

03/23/2026

Bond yields (which fixed mortgage rates are based on) have climbed substantially over the past couple of weeks, and we’re now starting to see noticeable rate increases from multiple lenders.

If your mortgage is up for renewal in the next 6 months, now is the time to get things sorted.

The good news, some lenders haven’t increased their rates yet, so we may still be able to secure a rate hold for you before any changes come through.

Feel free to reach out if you’d like to chat or get something in place 👍

03/17/2026

It’s been an interesting week for Canada’s economy 🇨🇦

We’ve seen unemployment rise to 6.7%, while inflation dipped to 1.8%, its lowest level in five years.

Normally, numbers like these might push the Bank of Canada toward cutting interest rates at tomorrow’s meeting. But it’s not that simple right now.

With ongoing conflict in the Middle East, oil prices have been climbing, and that could put upward pressure on inflation again in the months ahead.

As of now, there’s only about an 8% chance of a rate cut tomorrow, and markets are even pricing in a possible rate hike before the end of 2026.

Lots of moving pieces! It’ll be one to watch 👀

10/29/2025

Big news! 📉

The Bank of Canada dropped rates again — now at 2.25%, with prime down to 4.45% (4.60% at TD).

That’s about $75/month in savings on a $500K mortgage 💰

Next update: Dec 10 — fingers crossed for more good news 🤞

Got mortgage questions? I’m always here to help! 💬

09/17/2025

📉 Interest Rate Cut Alert!

The Bank of Canada just lowered its key interest rate to 2.50%, bringing prime down to 4.70% (4.85% at TD).

✅ That’s about $70/month less on a $500,000 mortgage!

Next announcement is October 29th, and markets are hinting at another possible cut. (We shall see!)

💬 Questions about what this means for you? I’m here to help!

07/30/2025

The Bank of Canada is holding steady, keeping the key interest rate at 2.75% once again.

The Bank is in a tough spot:
📉 The economy is showing signs of slowing down
🔥 But inflation (driven by global trade tensions) is creeping back up

In their words:
“If a weakening economy puts further downward pressure on inflation and the upward price pressures from trade disruptions are contained, there may be a need for reduction in the policy interest rate.”

💡 Some economists are forecasting no more rate cuts this year… others are predicting up to two. Time will tell!

Have questions or wondering how this impacts your mortgage or homebuying plans? Let’s chat.

06/24/2025

📣 Property Tax Reminder! 🏡💸

Property taxes are due July 2nd!

Even if your lender collects your taxes, don’t forget — you still need to apply for the Home Owner Grant online ✅

homeowners

06/04/2025

Bank of Canada Holds Rates Again

The BoC held its key interest rate steady this morning — no surprises there.

Since April, the economy’s been sending mixed signals:
📈 Trade tensions are keeping inflation sticky
🏠 Labour & housing markets are softening

The Bank now says if the slowdown continues (and it likely will), a rate cut could be on the horizon.

The next rate decision is July 30th

Questions about what this means for you? Feel free to reach out!

05/29/2025

🏡 BIG News for First-Time Home Buyers! 🥳

Starting May 27, the government is offering a GST rebate on newly built homes!

💰 Save up to $50,000 on your first home purchase!

✅ Full rebate on homes priced $1M or less
⚖️ Partial rebate on homes up to $1.5M
📊 Example: Buy at $1.4M and save $10,000 in GST!

This is a major win for affordability and could give a big boost to the pre-sale market. 🏗️📈

Have questions? Feel free to reach out.

01/29/2025

For the sixth consecutive meeting, the Bank of Canada has lowered their key interest rate.

With inflation dropping to 1.8% in December, this was an expected move.

Prime is now 5.20% (5.35% at TD)

While this is great news for all variable and home equity line of credit holders it does not impact fixed rates.

01/21/2025

Canada’s inflation rate dropped to 1.8% in December.

The number came in lower than the market expected 1.9%, thanks in large part to the GST tax break.

With rising unemployment and gdp weakening the argument for more rate cuts is increasing.

There is now a 80% chance of a rate cut at next Wednesdays meeting.

As always if you have any questions, reach out!

12/11/2024

The Bank of Canada has delivered an early holiday gift!

Today they lowered their key interest rate by 0.50%.

This brings prime down to 5.45% (5.60% for TD).

If you have an adjustable rate mortgage your payment will go down by nearly $30 per $100,000 owing.

If you have a static variable more of your payment will go towards principal every month.

Depending on who you ask, we could see rate cuts of 0.50%-1.25% in 2025. (We shall see!)

As always if you have any questions, feel free to reach out.

10/23/2024

As expected the Bank of Canada has lowered their key interest rate by 0.50%

This brings the prime right down to 5.95% (6.10% for TD).

If you have an adjustable rate mortgage, you'll see your payment decrease by almost $30 per $100,000 owing.

The BOC stated we are back to low inflation and more rate cuts will be coming.

Currently there is a 76% chance of a 0.25% cut on December 11th.

Have questions? Feel free to reach out!

Address

106 2626 Croydon Drive
Richmond, BC

Website

http://www.alexgarnermortgages.com/

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