Mortgages By Cherryl

Mortgages By Cherryl Cherryl Small, Licensed Mortgage Broker serving Ontario and all across Canada. Helping families achieve home ownership through understanding their unique needs

07/26/2026

Every time the Bank of Canada makes an announcement, many people assume that's the mortgage rate they'll receive.

It isn't.

The Bank of Canada's overnight rate influences lenders' prime rates, which affect variable-rate mortgages and lines of credit. Fixed mortgage rates work differently. They tend to move with the bond market, so they don't automatically rise or fall when the Bank of Canada changes its rate. Understanding the difference can help you make more informed mortgage decisions.

Were you surprised to learn that fixed mortgage rates don't automatically follow the Bank of Canada?

Ontario Mortgage Broker
Helping homeowners make informed mortgage decisions.

A bigger home often feels like the next step forward.More space. A better neighbourhood. Room to grow.And sometimes, it ...
05/25/2026

A bigger home often feels like the next step forward.

More space. A better neighbourhood. Room to grow.

And sometimes, it absolutely is the right move.

But one thing I’ve been thinking about lately is how quietly upgrading can also reset financial progress.

A homeowner may spend years paying down their mortgage, reducing debt, shortening their amortization and building flexibility only to move into a larger home and restart the cycle again with a bigger mortgage, higher carrying costs and a longer financial runway.

What feels like a lifestyle upgrade can sometimes become a financial reset.

That doesn’t mean upgrading is wrong.

It just means the conversation should become bigger than:
“Can we afford the payment?”

The better question may be:
“What does this move do to our overall financial picture long term?”

Especially in today’s environment where many households are already carrying significant debt and many mortgages are set to renew at higher rates over the next couple of years.

The payment you qualify for today may not be the payment you’re living with five years from now.

Sometimes financial progress is not about the biggest home you can qualify for.

Sometimes it’s about creating a life that still gives you breathing room after you move in.

This is something I see happen all the time with homeowners…Most people focus on getting approvedBut what happens after ...
04/30/2026

This is something I see happen all the time with homeowners…

Most people focus on getting approved

But what happens after that matters even more

A mortgage should support your life
not just fit on paper

If things feel tighter than expected
you’re not alone and there are options

DM me “strategy” if you want to take a closer look

04/22/2026

A lot of homeowners are coming up for renewal and one of the biggest mistakes I see is people simply signing the offer and sending it back.

Your renewal is a decision point.

There may be opportunities to:
✔ restructure your mortgage
✔ adjust your payments
✔ improve your overall financial position

The key is to act early.

The earlier you look at your options, the more flexibility you have.

If you’re unsure what your options are, I’m always happy to guide you.

04/09/2026

Your credit score is not the full story.
I’ve seen clients with “good” scores still get declined… and others with lower scores get approved.
Why?
Because lenders don’t just look at your score, they look at your patterns.

✔️ Late payments
✔️ High balances
✔️ Collections
✔️ Recent credit activity

These tell a much deeper story about how you manage credit.
If you’re planning to buy, refinance, or renew, understanding this early can make all the difference.
If you’re not sure where you stand, feel free to reach out. I’m always happy to guide you.

Address

11-1860 Queen Street East
Toronto, ON
M4L1H1

Telephone

+14165784187

Website

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