Darryl Kraemer
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Positive Shift For Homeowners & Buyers: BoC Cuts Rate
September 18, 2025
Yesterday’s update brings encouraging news for the housing market. The Bank of Canada lowered its benchmark interest rate by 0.25% to 2.5%, a move aimed at supporting growth and easing pressure on households.
Why The Bank Acted
- Slowing inflation: Prices are cooling, and the Bank sees less risk of inflation heating back up.
- Support for growth: A softer job market and trade uncertainty have weighed on the economy, but lower rates are designed to help Canadians weather those challenges.
- Housing strength: Consumption and housing activity have already shown resilience, and today's move may give the market an extra boost.
Governor Tiff Macklem noted the decision was made to "better balance the risks going forward," and many economists expect more cuts could be on the horizon later this year.
What This Means For You
- Renewals: Lower rates may create opportunities to save money or improve flexibility. Reviewing early could put you ahead.
- New buyers: Reduced borrowing costs can improve affordability and mortgage qualification, making it a great time to consider a purchase.
- Variable-rate mortgages: With rates trending downward, variable options may look more attractive again.
- Refinancing or investing: Now could be the right time to explore equity take-out, renovations, or investment opportunities.
A Brighter Outlook
While the Bank is cautious about global trade, the housing market continues to show strong fundamentals, such as population growth, demand for homes, and consumer spending, which remain supportive. Lower rates can help keep that momentum going.
Whether you're renewing, buying, or planning ahead, now is the time to explore your options. I can help you understand how today's cut could work in your favour. Reach out if you have questions.

Market Shifts, New Opportunities: What You Need to Know This Summer
August 13, 2025
From interest rate decisions to housing forecasts, there’s no shortage of headlines this summer. But even as the market shifts, there’s real opportunity for those who are prepared. Here’s what you need to know:
BOC RATES ARE HOLDING, FOR NOW
The Bank of Canada held its overnight rate at 2.75% as it works to balance slowing economic growth with persistent inflation. While rates remain unchanged, the Bank has indicated that future cuts are possible if inflation continues to ease and global conditions improve. This gives you valuable time to plan ahead and be ready to take advantage if rates move in your favour. Understanding where rates are headed is the first step in building a smart strategy.
A QUIETER SUMMER MARKET MEANS MORE OPPORTUNITY
According to the CMHC Summer Housing Outlook, the housing market is slowing slightly due to economic uncertainty, softer demand, and high construction costs. National home prices are forecasted to decline by about 2 percent in 2025. While that may seem concerning, a slower and more balanced market can actually benefit buyers. With less competition and more negotiating power, this summer could be the right time to consider your next move. Sellers may also be more willing to make concessions— giving buyers even more leverage.
MORE TIME MEANS BETTER DECISIONS
The pace of the market right now allows you to think strategically. Whether you're a first-time buyer, upsizing, downsizing, or refinancing, having time on your side means you can evaluate your options, understand your borrowing power, and ensure you're making a move that truly aligns with your financial goals. It’s not just about rates—it’s about long-term value.
SUMMER IS A SMART TIME TO PLAN AHEAD
Whether you're thinking about buying later this year, using home equity for renovations, or exploring new investment opportunities, the current pace of the market gives you more time and flexibility to make informed decisions with
confidence. It’s also a great time to get pre-approved and understand how rate trends could impact your purchasing power in the months ahead.
RENEWING YOUR MORTGAGE? DON’T WAIT
If your mortgage is up for renewal in the next 6–12 months, it’s essential to get ahead. The Bank of Canada has warned that many fixed-rate borrowers may face payment increases of up to 20%. That kind of jump can take anyone by surprise — but with the right strategy, you can stay ahead of it. I’ll help you review your options and build a renewal or refinance plan that works for you.
THERE IS ALWAYS MORE THAN ONE OPTION
As a mortgage professional, I work with over 40 lenders to help you access competitive rates and flexible solutions tailored to your needs. Whether you’re buying, renewing, or simply reassessing your current mortgage, I’m here to help. My goal is to simplify the process and empower you with the information you need to make confident financial decisions.
No matter where you’re at, now is a great time to check in. Let’s review your situation and explore your best next step. Reach out anytime to get started.

Renewing vs. Refinancing: How a Smart Refinance Can Save Over $50,000 in 5 Years — Even With a Higher Mortgage Rate
July 15, 2025
When your mortgage comes up for renewal, it’s easy to sign the lender’s offer—especially when it includes a lower rate than before. But if you're carrying high-interest debt, that lower rate might still be costing you tens of thousands of dollars.
Let’s compare renewing at 4.09% vs. refinancing at 4.44%, using a real-world scenario with credit card, loan, and line of credit debt on the books.
Meet Sarah: Mortgage Renewal + High-Interest Debt
- Current mortgage balance: $400,000
- Renewal offer from current lender: 4.09% fixed for 5 years
- Alternative refinance rate with new lender: 4.44% fixed for 5 years
- Other debts: $20,000 line of credit @ 9.50% $15,000 credit card @ 19.99% $15,000 car loan @ 7.99%
- Goal: Lower her total monthly obligations and reduce interest cost over time
Scenario 1: Renew at 4.09%, Keep Debts Separate
Sarah renews her $400,000 mortgage into a new 5-year term at 4.09%.
Mortgage Payment (25-year amortization): ~$2,123/month
Separate monthly debt obligations:
- Line of credit: ~$400
- Credit card (minimums + interest): ~$450
- Car loan: ~$475 Total non-mortgage debt payments: ~$1,325/month
Total Monthly Outflow: $2,123 + $1,325 = $3,448/month
5-Year Total Cost Estimate:
- Mortgage payments: $2,123 × 60 = $127,380
- High-interest debt payments: ~$79,500 (assumes slow repayment with significant interest over time)
Total Paid Over 5 Years: ≈ $206,880
Scenario 2: Refinance + Consolidate at 4.44%
Sarah refinances with a new lender, rolls the $50,000 debt into her mortgage, and secures a slightly higher rate at 4.44%.
New mortgage amount: $400,000 + $50,000 = $450,000 New mortgage payment (25-year amortization): ~$2,475/month
No more line of credit, credit card, or car loan payments.
Total Monthly Outflow: $2,475/month all-in
5-Year Total Cost Estimate:
- Mortgage payments: $2,475 × 60 = $148,500
Total Paid Over 5 Years: ≈ $148,500
Summary of Results
Key Takeaways
Even though Sarah’s refinance rate is 0.35% higher, she still comes out over $58,000 ahead over 5 years — with nearly $1,000 in monthly cash flow relief. That’s because mortgage debt is vastly cheaper than credit card, car loan, or unsecured credit.
Other Benefits of Refinancing and Consolidating
- One simple payment instead of juggling multiple lenders.
- Improved cash flow allows for emergency savings or investing.
- Stress-free debt repayment — no more aggressive credit card rates.
- Better credit utilization, potentially improving her credit score.
When Does Refinancing Make Sense?
Refinancing to consolidate debt makes the most sense when:
- You have $25K+ in high-interest debt
- Your mortgage is up for renewal (no penalty)
- Your home value has increased (so there’s equity to borrow against)
- You want to improve monthly cash flow or reduce financial stress
Even with a slightly higher interest rate on the mortgage, the interest savings and simplified payments often outweigh the rate difference.
What to Watch For
- Refinancing before maturity can trigger a break penalty (unless you're renewing).
- Extending your amortization could increase interest costs long-term—though this can be mitigated with prepayments or accelerated schedules.
- Always consider total cost, not just rate.
Conclusion
Sarah’s situation is not unusual. Many Canadians carry high-interest debt without realizing the power of a mortgage refinance. The key isn’t just getting the lowest mortgage rate — it’s optimizing your entire balance sheet.
Renewing at a slightly lower rate might feel like the “safe” option—but if you’re carrying high-interest debt, refinancing can dramatically reduce your overall payments, interest, and financial stress.
If you’re in a similar situation, reach out so we can run the numbers. A 30-minute conversation could lead to a 5-year savings of $40,000–$60,000+.

Refinancing Your Mortgage: When Does It Actually Make Sense?
June 09, 2025
With interest rates on the move and many homeowners feeling the pinch, refinancing your mortgage can be an innovative financial tool—but only if the timing is right. Here’s how to know when refinancing makes sense, and when it might not be worth the cost.
1. You Can Lower Your Interest Rate Substantially. If current mortgage rates are at least 0.75–1% lower than your existing rate, refinancing could save you thousands over your mortgage term, especially if you still have many years left.
2. You Need to Consolidate Debt. If you're juggling high-interest debt like credit cards or unsecured lines of credit, refinancing can help you consolidate into one lower monthly payment. This not only improves cash flow but can also simplify your finances.
3. You Want to Access Home Equity. Refinancing your home equity lets you use that capital for renovations, investments, or even purchasing additional property. Just make sure your new mortgage structure aligns with your long-term goals.
4. You Want to Change Your Mortgage Type or Term. Refinancing allows you to switch from a fixed-rate to a variable-rate mortgage or adjust your amortization period to fit a new budget or financial plan.
5. It’s Not Always the Right Move. Refinancing comes with costs: legal fees, potential prepayment penalties, discharge fees, and potential appraisal fees. Make sure the long-term benefits outweigh these short-term costs.
Reach out, and I can help you run the numbers objectively.

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