DLC Mortgages On Point

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DLC Mortgages On Point With over 18 years of experience as a Mortgage Broker I’ve built my reputation on a foundation of exceptional customer service.

10/04/2026

In its official 2024 and 2025 stability reports, the Bank of Canada calculated the "payment shock" for different borrower groups. They projected that fixed-rate borrowers with 5-year terms would see a median increase of roughly 15% to 25% in their monthly payments upon renewal.

15%: Represents borrowers who have seen significant income growth or have paid down a large chunk of their principal.

25%: Represents the median experience for a standard 5-year fixed-rate holder renewing in today’s environment.

This percentage translates to an extra $400 to $600 per month. Even though homeowners have been paying down their principal for five years, the jump in interest rates is large enough to outweigh those principal reductions, causing the monthly bill to rise.

If your mortgage renewal is coming up in the next six months, now is the time to start exploring your options. Don’t assume your current lender’s offer is the most competitive—shopping around could save you thousands over your next term.

09/04/2026

When you’re shopping for a mortgage, it’s tempting to treat it like a plane ticket—find the lowest price and hit "buy."
But after 18 years in this industry, I’ve seen many homeowners get "stuck" in a low-rate mortgage that actually costs them thousands in the long run.
Why? Because a mortgage is a financial strategy, not just a debt.
When I’m reviewing options with my clients, we look at:
- The Fine Print on Penalties: If you need to break your mortgage early, a "discount" rate can sometimes come with a massive bill.
- Portability: Can you take your rate with you if you move?
- Prepayment Flexibility: Can you pay down your principal faster when you have extra cash?
My advice for today’s market: Don't just shop for a rate; shop for a solution that fits your 5-year plan.

30/06/2023

Credit Tips to Keep in Mind

1. Always make payments on time, a few days before the payment date. Make at least the minimum payment
Never skip a payment no matter how small the minimum payment is. Late payments impact your score.

2. Be aware of percentage owed overall and on each credit card
The credit bureau monitors total utilization and usage per credit card. As a rule, use no more that 35% of the limit on each card to keep scores high.

3. Don’t avoid credit as lenders do want to see activity. Use it and pay it to remain active and in good standing.
Length of credit history is important
Often, as part of a debt consolidation, consumer close all credit. Select the oldest trade and keep it active (and paid as agreed!) to maintain an active credit history
Lenders do not consider closed trade lines as part of the borrower’s history, only active trades

4. Don’t apply for credit you don’t need
Inquiries count for a small piece of the credit puzzle (10% of the score)

5. Many inquiries may not impact the score as much as many believe however the impact is in the perception and may lead a lender to view the customer as a credit seeker and higher risk

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