Tom Johnson - Mortgage Agent - The Mortgage Centre Welland Niagara

06/15/2026

Switching to bi-weekly mortgage payments may seem like a small change, but it can make a major difference over time. By paying half your mortgage every two weeks, you end up making the equivalent of one extra full payment each year.

That extra payment goes directly toward your principal balance, helping reduce the amount of interest you pay over the life of your mortgage. In many cases, homeowners can shave years off their loan and save thousands in interest.

It’s one of the simplest strategies to build equity faster and become mortgage-free sooner — without dramatically changing your monthly budget.

06/10/2026

Bank of Canada holds at 2.25% and warns of policy ‘dilemma’

The Bank of Canada held its key interest rate but reiterated that U.S. trade uncertainty and the Iran war may mean it needs to either cut or deliver consecutive hikes to keep inflation stable.

The central bank maintained its policy rate at 2.25% on Wednesday for a fifth consecutive time, matching expectations of markets and forecasters, as the economy remains weak and the global oil shock drives up inflation.

Read more here:
https://www.canadianmortgagetrends.com/2026/06/bank-of-canada-holds-at-2-25-and-warns-of-policy-dilemma/

05/27/2026

As a mortgage broker, I see this mistake all the time — first-time buyers mixing up the deposit with the down payment. It’s one of the easiest ways to get a nasty surprise at closing.

The deposit (or earnest money) is the good-faith amount you pay within a day or two of your offer being accepted. It shows the seller you’re serious and is held in the realtor’s trust account.

Your down payment is the actual equity you’re putting into the home — the part you’re not financing with the mortgage. This is paid on closing day.

Important tip: Your deposit counts toward your total down payment! Example: On an $800,000 home with 10% down ($80k), a 5% deposit ($40k) means you only need to bring the remaining $40k (plus closing costs) on closing day.

If you’re house hunting, let’s get you pre-approved properly so you understand exactly what cash you’ll need at every step.

05/25/2026

One of the most common questions I get is whether it makes sense to renew or refinance your mortgage early, or just wait until your current term ends.

Early renewal or refinancing can lock in lower rates and save you money — but it often comes with big penalties like Interest Rate Differential (IRD) fees that can easily run into the thousands.

Waiting until the end of your term is completely penalty-free, but you risk missing out on better rates if the market improves.

Pro tip: Always compare the break costs against the potential savings first. Example: On a $500k mortgage with 2 years left, early refinancing might cost you $8k–$15k+ in penalties.

05/21/2026

A huge thank you to Bronwyn for the amazing review and kind words! I truly appreciate your support and am so glad you had a great experience

05/11/2026

For many Canadian homeowners, renewing into a fixed-rate mortgage feels like the “safe” move right now. It eliminates uncertainty with predictable monthly payments.

But if you are planning to sell your home within the next year, that decision could quietly cost you thousands of dollars in mortgage penalties. And here’s the surprising part: the biggest financial risk may have nothing to do with the mortgage rate itself.

Read the full article by placing this link into your browser:
https://www.canadianmortgagetrends.com/2026/05/renewing-your-mortgage-but-planning-to-sell-soon-read-this-first

05/11/2026

For many Canadian homeowners, renewing into a fixed-rate mortgage feels like the “safe” move right now. It eliminates uncertainty with predictable monthly payments.

But if you are planning to sell your home within the next year, that decision could quietly cost you thousands of dollars in mortgage penalties. And here’s the surprising part: the biggest financial risk may have nothing to do with the mortgage rate itself.

Read the full article by placing this link into your browser:

Why flexibility and penalties can matter more than rates if you plan to sell within the next 12 months

05/10/2026

Happy Mother’s Day to the women who make tough days easier and good days even better.

05/04/2026

"According to Mortgage Professionals Canada (MPC)’s latest consumer survey, nearly half of all first-time homebuyers used a mortgage broker in the past five years, but buyers aren’t turning to brokers solely to rate shop."

Industry leaders say clients are placing more value on guidance, structuring and product expertise, not just pricing, as mortgage decisions become less straightforward

04/29/2026

🚨 BREAKING: BoC holds policy rate at 2.25% 🚨

The decision further pauses the Bank’s easing cycle as it continues to monitor inflation and economic conditions.

"The Bank of Canada continues to face a difficult backdrop in setting interest rate policy. Global uncertainty and trade tensions remain the top concerns for consumers as a key driver of price pressures. Canadians are facing growing financial strain, whether they are striving to purchase their first home or managing higher mortgage costs at renewal.”

Read the full announcement here:
https://www.bankofcanada.ca/2026/04/fad-press-release-2026-04-29