Author: willbalo
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How Bank of Canada Rate Changes Affect Your Mortgage Payment
When the Bank of Canada changes its policy interest rate, it makes headlines, but most people aren’t sure how, or how quickly, it affects their own mortgage. The short answer: it depends on whether your rate is fixed or variable.…
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Fixed vs Variable Mortgage in Canada (2026): How to Choose
Choosing between a fixed and a variable rate is one of the biggest decisions you’ll make with any mortgage. A fixed rate gives you certainty. A variable rate usually starts lower but moves with the Bank of Canada. Neither is…
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Refinancing Your Mortgage in Canada: How to Access Home Equity
Refinancing lets you borrow against the equity you’ve built in your home, often at a lower rate than other forms of credit. Homeowners use it to renovate, consolidate high-interest debt, help family, or invest. But it also resets part of…
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Mortgage Prepayment Penalty in Canada: Is Breaking Worth It?
Breaking a mortgage before the term ends almost always comes with a prepayment penalty, and depending on how your lender calculates it, that penalty can be surprisingly large. Sometimes it’s still worth paying. A much lower rate, a move, a…
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Switch Mortgage Lenders at Renewal: Costs & Savings (Canada)
Switching lenders at renewal can unlock a better rate, but it isn’t automatic or free of friction. There’s a new application, some paperwork, and sometimes a small amount of legal or appraisal cost. The good news: switching at maturity doesn’t…
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Mortgage Renewal in Canada: 6 Steps When Your Notice Arrives
Getting a renewal letter from your lender can feel like a formality, but it’s actually one of the few moments in your mortgage where you have real leverage. When your term ends you can renew with your current lender as…
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Mortgage Library: Plain-English Mortgage Help for Canadians
An independent, plain-English resource about mortgages in Canada — new articles added regularly.