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

05/22/2026

I don't understand why a couple would want cash 💰 instead of fine china they will never use, or a selection of embroidered towels?

To each their own I guess...

As a reminder, here's the minimum down payments to collect from your guests:

$500,000 or less - 5% of the purchase price

$500,000 to $1,499,999 - 5% on the first $500,000 + 10% on the remaining balance

$1.5 million or more -
20% of the entire purchase price

📲 226-338-5136
📨 [email protected]

05/16/2026

Another annual trip to Mexico in the books thanks to my friends and ☀️☀️☀️

I took ridiculously few photos, but it was great catching up with old friends, making a few new ones, and talking a bit of shop.

I will never be too old for Coco Bongos.

Now for a weekend of slugging away on the files of my 4000 clients who purchased last week when I was away... 😐

05/05/2026

Are you struggling to get proper help with a refinance or pre-approval at your bank?

Let me help!

Chances are, I even have you preferred bank 🏦 as an option.

📨 [email protected]
📲 226-338-5136

04/28/2026

Do you jump in a pool and then go look for a bathing suit? (Don't answer that)

Get pre-approved before you start dragging your poor realtor out to look at houses.

All it takes is an application, ID, and rounding up some income documents, and you can tell your realtor you are good to go for one of those scarce condos here in KW!

📨 [email protected]
📲 226-338-5136

04/26/2026

Interest rates aren't changing on Wednesday.

Inflation ticked up a bit in March, but only a couple months ago we lost 85k in jobs. The Bank of Canada 🏦 will sit tight.

As a reminder though, these Bank of Canada decisions ONLY affect variable rate mortgages...

Did you know that since the start of the Iran conflict, fixed rates have jumped by up to 0.50% depending on the lender?

These BoC decisions get all the headlines, but the real story around rates is that the fixed ones are up. 🤮

📨 [email protected]
📲 226-338-5136

04/11/2026

Variable is back, along with the jeans in the bottom of my pant drawer.

Simply put, the conflict in Iran has driven up the bond market, so the spread between fixed and variable rates is simply too attractive for many to pass up.

Plus I think it's human nature just to pick the cheaper option.

How big is the spread?

It all depends on the lender/product, but as an example as much as 0.70% - that's a big difference in the monthly payment.

Here's why it's important to talk to a professional:

Did you know there are differences in the variable products between lenders?

Did you know you can use going variable now as a strategy to lock in with a fixed rate later?

Have you run the math to see what would happen to your payment if rates rose up?

📨 [email protected]
📲 226-338-5136

03/27/2026

I completely understand the simplicity of just renewing with your bank.

We are all busy and we trust our bank isn't going to be ripping us off.

But give me like... 5 minutes before you sign.

I can tell you if your renewal offer is fair, or if I have something else out there which could save you thousands.

Also, I'm happy just to talk strategy for a few minutes. Maybe picking that 5 year term isn't the right plan if you are going to sell in a couple of years?

BTW...

Lots of these conversations actually end up with me recommending just re-signing with your bank - If I wouldn't move my mortgage in the same situation, I won't recommend moving yours. Promise.

📨 [email protected]
📲 226-338-5136

03/25/2026

Well, now it's jinxed, but 500 5 ⭐ reviews feels pretty great!

I'd like to thank my mother for writing 495 of them, as well as the rest of my clients who have been kind enough to say a few nice words.

In all seriousness, I can't be any more greatful for all of you. I take a lot of pride in these reviews and the fact that my clients take time out of their busy schedule to recommend me.

Thanks again to all my realtor partners and clients, and I'd love to see if I can make YOU happy enough to be #501!

📨 [email protected]
📲 226-338-5136

03/24/2026

Don't let the scary headlines fool you...

Despite $28 fast food burgers and gas prices that could've covered a family of 4's Disney trip in '89, Canadians are still showing up and paying their mortgage.

Are there people struggling to make their payment? Absolutely, and we shouldn't take this lightly.

Are there people defaulting? A small number, yes.

BUT... despite the scary headlines about people defaulting on mortgages, Canadians are hanging on.

Don't let the news, or the hysterical dude on TikTok convince you the whole neighborhood is going up in smoke with mortgage defaults. It's just not going to happen.

If you are struggling, give me a call. I may have some options to help.

📲 226-338-5136
📨 [email protected]

03/21/2026

I hate posting bad news, but this past month has been ugly if you were hoping for a fixed rate mortgage, and Friday was the icing on the cake 🎂 if you look at that spike.

That graph you care nothing about is the 5 year bonds here in Canada.

On February 27th, they were 2.604%.

Yesterday we finished at 3.229%.

Simply put, what's happening with the Iran conflict is causing all sorts of fear around inflation, etc... and the market is not reacting well.

And the bad news is the bond market is what dictates fixed-rate pricing.

What does that mean for you?

With the bond yields surging, fixed rates have gone up.

That renewal offer you got a month ago and thought it sucked, might now be pretty damn good after yesterday.

Now, you may be confused because the Bank of Canada 🏦 left rates alone last week, but that applies to variable mortgages only.

Still want a good rate? Need an option?

Variables just got a hell of a lot more attractive, but just remember that they carry the risk of the Bank of Canada raising rates at some point this year. The market is now actually betting on it.

Questions? Are you a realtor that needs a drink 🍷 🍻 or nine after reading this?

📨 [email protected]
📲 226-338-5136

Address

393 Hillside Street
Waterloo, ON
N2K2P1

Website

http://jimstefflermortgages.com/

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