Richard Tartaglia - Mortgage Broker

03/18/2026

It’s been a little while since my last update, and with everything going on globally I wanted to give you a quick, up to date and simple breakdown on how this is impacting mortgage rates here at home.

As of right now, fixed rates are being pulled in 2 directions - up when bond yields rose due to surging oil prices (to about $95/barrel, the highest since 2022), and down when softer inflation data, weaker U.S. economic momentum, and a very slight pullback in oil prices provided some relief this week.

We’re in a bit of a tug-of-war.

Fixed rates could be a strong option right now given the uncertainty, but it’s worth noting that variable rates have recently moved below fixed - and have historically outperformed over time.

There’s no one-size-fits-all answer.

At the same time, the Bank of Canada is expected to hold rates this week at 2.25% for now. The reasoning is pretty straightforward: Inflation has cooled, but we have an oil wildcard. The bank doesn’t want to cut too early and risk inflation picking back up. At the same time, the economy is showing signs of slowing so they’re also not in a rush to hike.

With this being a big year for mortgage renewals, it’s important to stay ahead of things. We can hold rates for up to 120 days, and I’m having a lot of great conversations right now with clients locking in very competitive rates for upcoming renewals - all while navigating the current volatility. We’ve been securing excellent mortgage solutions that fit client’s needs and long-term goals.

The headlines matter, but your plan matters more. If you’re coming up for renewal or just want to explore current available options, it’s always worth a quick conversation to make sure you’re positioned properly.

Schedule a call here:

11/13/2025

Is it time to break your mortgage?

With rates trending down, many homeowners who closed, renewed, or refinanced in the last few years are now likely in higher-rate mortgages than what’s readily available today.

Naturally, the question comes up:

“Should I break my mortgage and secure a lower rate and does the math work?”

Here’s a Real Example:

A client recently told me their bank quoted them a $13k penalty and said refinancing wouldn’t make sense for them unless the penalty dropped significantly.

The client left frustrated, thinking they were stuck so they reached out.

Here's what the bank didn't tell them:

• Mortgage penalties can shift significantly over time.
• They didn't project what the penalty could be later in their term - only what it was on that day.
• For fixed raters the penalty is whichever is higher: 3 months’ interest or an IRD (Interest Rate Differential) penalty, which reflects the lender’s lost interest. For variable raters it’s typically a 3 months’ interest cost.
After completing a penalty analysis for this client (see below) we noted the penalty was indeed $13k today, but set to fall to $6.5k by the end of January 2026, then spike back up to $18k in April 2027 - leaving them with a comfortable window to secure significant savings in February of 2026 (if the banks posted rates don't change).

Here's what we did and why this matters:

We secured a new mortgage in the low-4% range, which will replace their 5.44% rate in February, and generate about $10k in real net interest savings by the time their mortgage matures, even after accounting for the penalty. In other words they'll owe $10k less at maturity all else equal.

Not knowing how your penalty is calculated is like driving a car with an insurance policy where the deductible changes every month - and nobody tells you what it is.

You can’t make good decisions without understanding the variables.

If you’re in a 5%+ mortgage, there may be meaningful savings available especially if you’re carrying other debts.

The key is knowing when your penalty will be lowest and how to time a move.

Here's what we can do for you:

We can secure a commitment for up to 4 months, and snag the lowest rate during that time. We'll calculate your current and future penalties, then map out whether refinancing makes sense - or not.

Complete the form link below and I’ll review your numbers, run the projections, and follow up with clear next steps.

https://richardtartagliaorganization.formstack.com/forms/mortgage_savings_review_and_penalty_analysis

If this information isn’t relevant to you, please feel free to share with someone who may benefit.

10/03/2025

Banks often wait until renewal — by then, rates may have already risen.
A great mortgage broker takes a proactive approach: securing rate holds up to 4 months in advance, adjusting lower if markets improve, and reviewing the borrowers evolving needs and goals to see if a modification makes more sense than a simple renewal.

More protection. More flexibility. Better outcomes.

10/01/2025

Canada’s rising debt-to-GDP ratio is raising red flags for lenders.
As debt levels climb, so does credit risk — and lenders often respond by adding extra spreads into mortgage rates.

The catch? Even if the Bank of Canada continues cutting rates, mortgage rates may not fall as quickly or as much as expected. They could remain “sticky” if lenders keep pricing in higher risk.

09/30/2025

Mortgage Discounts Brighten: What Buyers and Renewers Need to Know
Let’s connect and talk about the latest insights in the industry!

Monitor U.S. economic reports closely as stronger data can lead to better mortgage discount opportunities. Understand how slower growth in Canada might keep mortgage rates favorable for buyers and renewers. Start preparing your documents and financials now to take advantage of these brighter mortgag...

09/17/2025

The Bank of Canada will make its next rate announcement on October 29, 2025.

09/16/2025

A fully underwritten pre-approval goes the extra mile: a proper analysis reviews income, credit, and down payment documents upfront.
That means no surprises later, and usually the only condition left is the property itself.

09/12/2025

Mortgage Renewals Drive Canada's Market
Let’s connect and talk about the latest insights in the industry!

Know that mortgage renewals and refinances have surged 27% YoY, shaping market dynamics more than new lending. Many face higher payments as ultra-low pandemic rates end; budgeting ahead is critical to avoid financial strain. Average loans for first-time buyers rose 4% to $430K, signaling changing en...

04/14/2025

Bond yields spiked last week from 2.52% - 2.82%, which has caused a rise in fixed mortgage rates and this adds uncertainty to the fixed rate outlook.
Despite this bounce there is still room for fixed mortgage rates to fall further as lenders tend to take the stairs when rates fall (rather than the elevator when rates rise) and it appears we’re still walking down.

04/04/2025

Canada is heading to the polls on April 28!
With housing and the economy at the forefront of the conversation, potential policy changes could be on the horizon. While it’s still too early to know what’s coming, staying informed by working with a professional that can help you navigate any financial impacts.

04/02/2025

Home sales in Canada just dropped nearly 10% in a month, with Toronto plunging 30%—but for investors, this isn’t bad news. It’s an opportunity.
Less competition means more negotiating power
Motivated sellers = better deals
Falling prices + lower interest rates = rare buying conditions

Buyers are hesitant due to economic uncertainty, but history shows hesitation doesn’t last. When confidence rebounds, prices could surge.

03/31/2025

Buying a home in the GTA can feel like a cruel joke, we get it... But real homeownership is possible, you just need a plan.
Your Success Doesn't Just Happen, We Plan For It.