Darryl Kraemer
Contact Info:
About
Explore Our Services
Preview Our Rates
Access all your mortgage options with just one application. Preview today's rates first:
Our Lenders
Blog
First‑Time Buyer in Ontario? Why “Getting Ready” Matters More Than Waiting for Rates
February 09, 2026
If you’re a first‑time home buyer in Waterloo Region or anywhere in Ontario, you’ve probably heard the same advice on repeat: “Just wait until rates drop.”
But here’s what I’m seeing — buyers who wait for the perfect rate often lose more in pricing, competition, or rushed decisions than they save in interest.
Right now, with rates relatively steady and inventory slowly improving, preparation is the real advantage.
1. A Rate Hold Changes Buyer Psychology — Not Just Payments
When rates stop bouncing around week to week, buyers get clarity. Sellers do too. That’s often when activity quietly increases before headlines catch up. The first people to benefit aren’t the ones refreshing rate charts — they’re the ones who already understand what they qualify for and how lenders will view their file.
2. Pre‑Approval ≠ Strategy
A pre‑approval tells you how much you might borrow. A strategy tells you:
- Which term fits your risk tolerance
- How the stress test actually affects your real budget
- Whether fixed, variable, or a split makes sense for your income and timeline
- How closing costs and land transfer tax change your effective purchase price
First‑time buyers who skip this step often feel rushed later — and that’s when mistakes get expensive.
3. The Stress Test Is Still the Gatekeeper
Even with stable rates, the qualifying rate is still meaningfully higher than most contract rates. That means:
- Your payment comfort and approval amount may not line up
- Gifted down payments, bonuses, or variable income need to be documented properly
- Self‑employed first‑time buyers need extra lead time — not last‑minute scrambling
Getting this right early can expand options rather than limit them.
4. A Contrarian Take (Flagged Speculation)
Speculation: If rates ease modestly later this year, the bigger impact may be price pressure, not affordability relief. In other words, lower rates could bring more buyers back faster than supply improves. That’s another reason why readiness beats waiting.
What First‑Time Buyers Should Do This Week
- Run a true affordability review, not just a pre‑approval
- Stress‑test your payment against life changes (kids, career moves, parental leave)
- Decide your maximum comfort price, not just your maximum approval
- Build a purchase timeline that removes urgency from decision‑making
Closing Thought
Rates matter — but structure, timing, and preparation matter more. The best first‑time buyers aren’t predicting the market. They’re positioning themselves to move confidently when the right opportunity shows up.
Bank of Canada Rate Hold
January 28, 2026
The Bank of Canada decided to hold interest rates today, which means there was no change to the overnight rate. It remains at 2.25%. This is good news for many homeowners and buyers. Holding rates brings stability, and that’s helpful when planning your finances.
The Bank shared that inflation is staying close to its 2% target, which is a good sign. While there are still some global uncertainties, Canada’s economy is showing steady progress, and the Bank feels today’s rate level is appropriate for now.
Bank of Canada Governor Tiff Macklem said the economy is showing resilience despite some challenges. Because of that, the Bank wants more time and information before making its next move.
If you have a fixed-rate mortgage, nothing changes. If you have a variable-rate mortgage, your rate stays the same. If you’re thinking about buying, renewing, or refinancing, this pause gives us time to plan carefully and make smart choices. Some experts believe the Bank could begin cutting rates later this year if the economy needs more support. Others think the Bank is being cautious, and that caution helps avoid sudden changes that can catch homeowners off guard.
Right now, the best move is to stay informed and have a plan. Everyone’s situation is different, and small timing decisions can make a big difference. If you’re coming up for renewal, considering a move, or just want to understand how this affects your mortgage, I’m always happy to talk it through with you.
The next Bank of Canada rate announcement is scheduled for March 18, 2026, and I’ll continue to keep you updated.
What 2026 Could Bring For Your Mortgage
January 20, 2026
As we head into 2026, I’ve been getting a lot of questions about what’s coming next for homeowners and buyers.
So, I wanted to share a quick note with you, no jargon, no pressure, just a helpful look at what market experts are saying and what it could mean for you.
The housing market in 2026: steady, not wild
The word most often used to describe 2026 is “balance.” Home prices are expected to rise slowly in many areas, not jump as quickly as in the past. Some markets will be busier than others, but overall, things should feel calmer and more predictable.
For buyers, this can mean less pressure to rush and more time to make good decisions. For homeowners, it means values are holding up, and long-term stability is still there.
One of the biggest things happening in 2026 is mortgage renewals. Many Canadians will be renewing mortgages that were set up years ago, when interest rates were much lower. That means some people may see higher payments when their term ends.
The good news? You have options, and planning ahead can make a big difference.
Even if your renewal is still months away, it’s smart to:
- Review your mortgage now
- Look at different lenders (not just your current one)
- Talk through strategies that fit your budget
What about interest rates?
Rates are always top of mind, and in 2026, most experts expect them to be fairly steady, not jumping up or down dramatically. That means fixed rates may remain higher than they were years ago, and variable rates will still be a good fit for some borrowers. There’s no one-size-fits-all answer. What matters most is choosing a plan that fits your comfort level and goals.
Here are a few easy things you can do this year:
- Know when your mortgage renews
- Ask questions early, even if you’re “just thinking”
- Review your budget and future plans
- Reach out if you want a second opinion
In a more balanced market, working with a mortgage broker and having the right advice matters even more. I will help you compare options across multiple lenders, understand the numbers in plain language, and explore solutions beyond a standard mortgage when needed.
Remember, I work for you. My goal is to help you feel confident and prepared, not rushed or confused. 2026 doesn’t look scary; it just looks different. With the right plan and the right support, there are great opportunities ahead.
If you ever want to talk through your situation or explore options that might work for you, I’m always happy to help.
Self‑Employed in Ontario? January Is the Month That Sets Your Mortgage Up for the Whole Year
January 14, 2026
For self‑employed homeowners and buyers, January isn’t just a fresh start—it’s a strategic window. Decisions you make right now around income, structure, and timing can dramatically affect what you qualify for (and how comfortably) later in 2026.
Why January matters more for the self‑employed
Unlike salaried borrowers, self‑employed clients don’t get a clean snapshot. Lenders look backward—often two years—and January is when those numbers are still flexible enough to plan ahead.
With rates relatively stable and lender appetite returning after the holidays, this is the best time to align tax planning and mortgage planning instead of letting them fight each other.
Key planning areas to focus on this month
1. Income strategy vs. qualification reality
Many self‑employed borrowers optimize taxes without considering the mortgage impact. January is the time to decide:
- Which year’s income you’ll rely on for qualification
- Whether showing slightly higher income meaningfully improves options
- If alternative programs or lender types make more sense than forcing a perfect A‑lender fit
This is about net benefit, not about blindly maximizing or minimizing income.
2. Buying in 2026? Build the timeline now
If purchasing later this year:
- Decide whether 2025 or 2026 income will be used
- Identify when documents will be cleanest for underwriting
- Avoid spring or summer surprises when deals are time‑sensitive
A calm purchase starts with an intentional timeline.
3. Refinancing or restructuring
January is an ideal time to review:
- Whether your current mortgage still fits your business cash flow
- If amortization changes could improve monthly flexibility
- How upcoming business investments or slow seasons affect payment comfort
Refinancing isn’t just about rate—it’s about resilience.
4. First‑time self‑employed buyers
If this will be your first purchase:
- A strategy beats a simple pre‑approval
- Understanding lender tolerance, add‑backs, and acceptable income patterns early prevents frustration later
- Early planning often opens doors that seem “closed” in rushed spring applications
What a smart January mortgage strategy includes
- Clear qualification plan tied to income reporting
- Multiple lender paths (not just one “hopeful” option)
- Conservative payment comfort analysis
- Flexibility built into the mortgage structure
Bottom line
For self‑employed Ontarians, January decisions echo all year. A little planning now can mean smoother approvals, better structure, and far less stress when it matters most.
Stay Connected
Stay in touch to ensure that you get the best rates, always!