Ross Taylor Mortgages

06/17/2026

Ask Ross Newsletter:
https://preview.mailerlite.io/preview/1794249/emails/190543719853721009

06/17/2026

Big News at Ross Taylor Mortgages. And a Reality Check for Toronto Homeowners.​
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​I’ve got some exciting news to share.​
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​My team and I have officially joined The Mortgage Group (TMG), one of Canada’s largest mortgage brokerages. That means access to more lenders, faster turnaround times, and more solutions for my clients.​
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​What isn’t changing is my education first approach. For more than 30 years, I’ve believed informed clients make better decisions, and that remains at the heart of everything we do.​
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​Toronto homeowners are facing some difficult realities right now. The Bank of Canada is balancing weak growth and stubborn inflation, which means rates could still move in either direction.​
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​What concerns me most are homeowners approaching renewal and realizing their new payment may no longer fit their budget.​
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​If you're leaning on credit cards, missing payments, or finding refinancing is no longer an option, those are warning signs you shouldn't ignore.​
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​I've seen too many people wait until the last minute. Selling before a default occurs can often protect your credit and preserve future homeownership opportunities.​
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​Running a business from home can create challenges too. Renewals are often straightforward, but refinancing, insurance, and tax implications can become more complicated.​
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Read our latest newsletter here: https://preview.mailerlite.io/preview/1794249/emails/190543719853721009
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​As always, if you have any questions, visit us at www.askross.ca – we’re here to help.

I've spent more than 30 years helping Canadians navigate mortgages, credit challenges, debt issues, and some of life's biggest financial decisions.

05/25/2026

Thinking about throwing a big lump sum onto your Toronto mortgage to save interest? I get the appeal. Especially when rates are higher and every extra payment feels like a win against the bank.​
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​But here’s what a lot of people don’t realize. Lenders are now digging into every large deposit with a fine-tooth comb.​
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​If that money came from family, the bank wants to know whether it’s truly a gift or secretly a loan. And trust me, that distinction matters more than ever in 2026.​
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​If it’s considered a loan, it can increase your debt ratios and potentially create problems at renewal time. I’ve seen good intentions turn into unnecessary mortgage headaches because the paperwork wasn’t handled properly.​
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​Even legal agreements and promissory notes can backfire. Sometimes they actually strengthen the lender’s view that the money is borrowed, not gifted.​
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​A genuine non-repayable gift is usually manageable, but timing, documentation, and transparency are critical now.​
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​My advice? Don’t move large family funds around without speaking to a mortgage professional first. A simple strategy conversation upfront can save you thousands and keep your mortgage options wide open later.​
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Read our latest article here: https://www.canadianmortgagetrends.com/2026/04/paying-down-your-mortgage-faster-comes-with-trade-offs/
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​As always, if you have any questions, visit us at www.askross.ca – we’re here to help.

While extra payments can reduce long-term interest costs, they may also limit liquidity, trigger penalties and crowd out other financial priorities

05/05/2026

Ask Ross Newsletter:
https://preview.mailerlite.io/preview/1794249/emails/186232672546194600

05/05/2026

There’s a new twist in Toronto’s housing story that isn’t making headlines, but it’s impacting more people than you’d think. Rising mortgage renewal rates and tougher refinancing rules aren’t showing up as flashy default stats.​
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​Instead, they’re quietly forcing more homeowners to sell, especially when property values have dropped or debt loads have piled up.​
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​I see clients every week who can’t get the refinancing they counted on, even after years of homeownership, and the result is more “silent” forced sales happening before missing a payment.​
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​Official data may look stable, but real families are being displaced.​
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​Here’s the truth: acting early, before you hit crisis mode, saves you money, stress, and sometimes your entire credit history. The current market is actually kinder to renters than it’s been in years.​
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​Selling on your own terms means keeping more equity and a better shot at getting back in when the time is right.​
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​Talking about a “reset” isn’t failure, it’s smart planning, and a conversation I’m having with more Torontonians than ever.​
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​If you’re concerned about your renewal or just want an honest take on your next steps, don’t wait.​
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Read our latest newsletter here: https://preview.mailerlite.io/preview/1794249/emails/186232672546194600
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​As always, if you have any questions, visit us at www.askross.ca – we’re here to help.

If you've been reading the headlines, you might think the great mortgage renewal wave of 2025 and 2026 turned out to be a non-event. Defaults didn't spike. Banks patted themselves on the back. Analysts moved on.

03/06/2026

If your low mortgage rate is expiring soon, you’re not imagining things. Renewal letters landing in Toronto mailboxes are packing a much bigger punch in 2026.​
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​Many of my Toronto clients are staring at payment increases between 6% and 20%. That’s what happens when fixed mortgage rates have more than doubled since the pandemic lows.​
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​I’m already seeing homeowners shocked by how much more of their payment is now going straight to interest. The math simply isn’t what it was a few years ago.​
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​But here’s the part many people miss. You’re not stuck with whatever renewal offer your bank sends you.​
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​If we plan ahead, there are real strategies to soften the blow. Adjusting your amortization, consolidating higher interest debts, or comparing fixed and variable options can change your monthly numbers significantly.​
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​That said, if we clean up your credit and tighten up your finances early, switching lenders could still unlock better terms.​
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​Toronto isn’t going back to sub-2% mortgage rates anytime soon. Waiting and hoping for that outcome isn’t a strategy I recommend to my clients.​
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​My advice is simple. Look at your budget honestly, start preparing months in advance, and make your move before the bank’s renewal letter puts you under pressure.​
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Read our latest article here: https://askross.ca/what-will-happen-to-my-mortgage-payments-when-my-low-rate-expires/
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​As always, if you have any questions, visit us at www.askross.ca – we’re here to help.

Millions of Canadians will face mortgage payment increases in 2026 as low pandemic rates expire. Learn the steps you can take to avoid payment increases.

02/14/2026

If you’re a Toronto homeowner who locked into an ultra-low pandemic mortgage rate, 2026 could bring a serious payment shock.​
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​We’re talking increases from 6% to 20% in monthly payments, enough to throw even the most organized budgets off course. But you don’t have to wait for renewal panic to set in.​
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​There are concrete steps you can take to ease the pain and regain control.​
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​Here’s what I’m telling clients right now: Start planning 6–12 months before your mortgage is up. Run your own “stress test”, can you handle rates a full percent or more higher?​
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​Options like extending your amortization, refinancing to wrap up high-interest debt, locking in early, or even considering a variable term could save your cash flow and sanity.​
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​If monthly payments are looking unmanageable, don’t wait, talk to your lender or someone who knows all the options, including hardship programs. The key is acting early so you don’t limit your options.​
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Read our latest article here: https://askross.ca/10-ways-to-manage-higher-mortgage-payments-in-2026/
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​As always, if you have any questions, visit us at www.askross.ca – we’re here to help.

If your mortgage renews in 2026 and you can’t afford your new payment, you’re not alone and you’re not out of options. Learn 10 smart ways to reduce and manage payment shock.

01/23/2026

Second Mortgages, Softening Prices, and Smart Moves: What I’m Seeing in Early 2026​
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​January always gets people thinking.​
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​New year, new habits. New goals. And often, new pressure to finally deal with that financial to-do list you’ve been avoiding.​
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​Maybe it’s time to tackle lingering high-interest debt.​
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​Maybe you’re hoping to buy a home, or help your kids buy theirs.​
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​Whatever your 2026 goals are, here’s what I’m seeing right now in the GTA market:​
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​1. Second mortgages are on the rise, by choice, not desperation. Homeowners are using them strategically to consolidate debt and protect their low first mortgage rates. This isn’t a panic move; it’s a smart one.​
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​2. Toronto buyers might finally have the upper hand. Home prices have softened, interest rates have steadied, and bidding wars are (mostly) gone. Winter could be your window.​
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​3. Be careful with family gifts or loans. I see this all the time. Money arrives too late, or isn’t structured right, and suddenly, a mortgage approval is off the table. These are avoidable mistakes, and I explain how to get it right.​
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​Bottom line: the year’s just begun, but the smart moves start now.​
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Read our newsletter: https://preview.mailerlite.io/preview/1794249/emails/177356315564181381
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​Let’s make 2026 the year you take charge of your finances for good.​
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​As always, if you have any questions, visit us at www.askross.ca – we’re here to help.

Whatever’s on your financial to-do list, this month’s newsletter is packed with practical articles to help you make real progress.

01/21/2026

Thinking about using a family loan or a generous lump sum from relatives to pay down your Toronto mortgage? It sounds straightforward, but it can create all sorts of headaches at renewal time thanks to strict anti-money laundering rules and the way lenders assess your mortgage application.​
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​The big issue: if the funds are actually a loan, even from family, lenders have to count it as debt, not a gift, which could make qualifying or even renewing much tougher.​
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​Legal paperwork like promissory notes or informal repayment plans is a red flag for lenders, and simply moving money between accounts quietly doesn’t fly anymore. The process absolutely must be transparent and well-documented.​
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​If your family is helping, it either needs to be an outright, non-repayable gift (with paperwork to prove it) or you need to look at formal refinancing options that incorporate any new loan into your application.​
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​Audits and regulatory crackdowns are the new norm, so it pays to play by the rules and get professional advice before transferring a dime.​
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​Getting family help isn’t the problem; how you structure it is everything. Planning ahead can save you stress, and sometimes, your entire mortgage renewal.​
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Read our latest article here: https://www.canadianmortgagetrends.com/2026/01/why-family-loans-can-complicate-a-mortgage-renewal-in-canada/
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​As always, if you have any questions, visit us at www.askross.ca – we’re here to help.

Increasingly strict AML rules mean large family-funded payments can complicate renewals, even when borrowers are trying to reduce risk.