Jim Steffler Mortgages - Dominion Lending Centres National Ltd. FSRA #12360

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Jim Steffler Mortgages - Dominion Lending Centres National Ltd. FSRA #12360

Dominion Lending Centres National Ltd. FSRA #12360

11/03/2026

One of the main fears I hear from both clients and my realtor friends, is a nervousness that this is a return to 2023/2023 when the BoC raised the key lending rate from 0.25% to 5.00%.

That 475 basis point hike was a kick in the teeth for many.

Here's why you can relax.

Breathe a sigh of relief.

Put down the gummies.

In June 2022 inflation was 8.1%. This September it was 3.1%. This is NOT 2022 all over again.

I think we will see another 0.25% increase in December. The Band of Canada is stubborn, and historically raises rates in movements of two.

I also wouldn't be shocked if we see two more 0.25% increases in the new year. A 1.00% total increase sounds like it is on the table.

But... This is not 2022. This is not the same level of emergency.

📨 [email protected]
📲 226-338-5136

10/28/2026

Why did the Bank of Canada raise interest rates today?

The headline is that it's an effort to deal with inflation, and that is certainly true. The Bank is concerned that prolonged higher energy costs will spike inflation, and they are trying to get ahead of it.

However, another big reason is simply because the rest of the major central banks have, with the USA, EU, Australia, and Japan having already raised their rates.

Simply put, if the Bank of Canada were a teenager standing outside among a bunch of other teenagers who were smoking, they would bum a cigarette just to fit in.

As a reminder, this only affects variable mortgage holders. If you are in a fixed product, or shopping for one, nothing has changed.

Also, if the Bank of Canada is reading this, please don't be mad that I called you monkeys and said that you follow the crowd like a smoking teenager. I said it with love 💕.

📨 [email protected]
📲 226-338-5136

10/26/2026

I'd guess that on at least 8 out of 10 applications I see, I end up changing the income number my client originally entered. 🤷‍♂️

It goes both ways! Sometimes clients don't realize their bonuses or overtime can actually count toward how much mortgage they can afford. Other times, it's simply that most people don't understand exactly how a lender views their earnings.

And sometimes... income is one of the things people do tend to exaggerate.

Online pre-approval tools are great for a quick estimate, but their biggest flaw is that they rely entirely on self-reported income. This is exactly why it is so important to have a mortgage professional review your actual documentation before you start house hunting.

Want to know your true buying power before you fall in love with a house?

📨 [email protected]
📲 226-338-5136

10/06/2026

Did you know that for only $2.59 a month for the next 30 years, you could still see the Backstreet Boys?

Kevin would only be 85 years old when the small mortgage needed for the ticket is paid off!

A refinance can be an option to pay off debts, complete a renovation, or pay for a dream of seeing AJ up close and personal.

Just remember you can only refinance up to a maximum of 80% of what your home is worth, so realistically if you bought in 2021 or 2022 you'll be lucky to have enough available equity to pay for tickets to 98 Degrees.

Need some help this fall with a refinance?

📨 [email protected]
📲 226-338-5136

09/10/2026

Yuck.

In a nutshell, the bond market is what drives fixed interest rates, and they keep going up.

For some context, the 5 year bond was 2.60% on March, and 3.59% as of today. Yikes.

Remember that all those Bank of Canada announcements you hear just affect the variable product.

The contrast now between fixed and variable rates is quite dramatic, so please reach out if you're struggling with which way to go.

📨 [email protected]
📲 226-338-5136

08/27/2026

Remember when we all wore a Livestrong bracelet?

Also, I'm not sure why my eyebrows are so perfect here, but rest assured I have never altered them in any way.

Did you know if you got pre-approved TODAY it would last all the way until Dec 25th? Santa could bring you a new house!

08/18/2026

"What do you mean rates are going up? I haven't seen this on the news, or 400 different realtors Instagram stories?"

The stuff you see about rates rising or falling in the news are Bank of Canada decisions - these only impact variable rates.

Fixed rates are driven by the bond market, which has unfortunately been trending in the wrong direction since the start of the war in the spring.

If you have a renewal coming up in the next few months, you might want to lock in something now.

If you've been shopping for a new house with a pre-approval, maybe pick one of the 20,000 which are available before your rate expires.

📨 [email protected]
📲 226-338-5136

08/11/2026

All of the above is true.

Want to work with a mortgage agent well connected to the real estate world, and have a stress free experience while saving some money?

Want someone who manspreads and raised baby chicks in 1984?

Give me a call.

📨 [email protected]
📲 226-338-5136

07/21/2026

Kind of a boring post, but I just got back from vacation and I'm too bloody busy for something creative. They all can't be winners, can they?

Paris and London were nice, thanks for asking. It was pretty cool to be there for the ⚽, even if it is the most boring sport imaginable.

In a nutshell, the Bank of Canada 🏦 isn't raising rates anytime soon. Inflation doesn't look that bad even with daily new deals with Iran.

Inflation is just fine according to the report. Maybe have yourself a $35 McDonald's lunch today to celebrate how cheap things are? 🥂

📨 [email protected]
📲 226-338-5136

06/30/2026

Who doesn't love a good carousel post?!

Looking to purchase this summer? Up for renewal this fall? Ready to buy your first home? Need assistance with any of the above?

I'm here to help.

📲 226-338-5136
📨 [email protected]

Address

393 Hillside Street
Waterloo, ON
N2K2P1

Website

http://jimstefflermortgages.com/

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