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Brent Richardson
Principal Mortgage Broker/ Owner (Lic. # M08006143), Certified Financial Planner (CFP) Altrua Financial Inc. Lic. #13005
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Ground Level Updates on Mortgages and the Housing Market, before it hits the news
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The real price of gas in Ontario, without the imbedded taxes
Retiring your mortgage means higher cash flow, more savings and financial flexibility
The best advice is to plan mortgage freedom before retirement
But more are opting to refinance at ~$500/mo per $100,000, and downsize later in retirement
This trend is likely to continue
🇨🇦 CPI/ inflation held steady in May at 1.7%, in line with market expectations
Lower energy and tourism prices pulled down inflation, while higher rent and cell phone prices blunted the downward trend
Today’s release has minimal effect on bond yields/ fixed mortgage rates
Bond yields fell off recent highs on more dovish messaging by the US Fed that its looking to cut its rate at least 2 more times in 2025
Markets are still pricing in only one BoC cut in 2025, however a surprise in this weeks CPI and GDP releases could change this
Most would agree that it’s normal to spend dozens of hours over months planning a one day wedding ceremony
But how long do we spend planning 30-40 years of retirement?
Make your mortgage tax deductible ✂️
Pay off your mortgage years sooner 📉
Grow your wealth significantly 💵
With claims like these, its no wonder the Smith Maneuver has been getting more attention
People have a lot of questions about the Smith Maneuver, and I've had dozens…
The only policy lever to increase housing market activity in Canada is the removal of the B-20 stress test.
OSFI is currently conducting a year-long review that will conclude in Q4. If they remove the MQR, I think it would probably help start a recovery later in 2026.
Fixed mortgage rates are very low relative to government of Canada Bond Yields, with less than 1% spread in some cases
This points to heavy competition and good value in fixed rates currently
We could see fixed rates drop .25% if BoC cuts .50-.75, or increase .50 if no cuts
RBC now calling no more BoC cuts in 2025:
“We have removed further interest rate cuts from the Bank of Canada as direct trade uncertainty facing Canada recedes, while the inflation outlook remains uncertain.”
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