Angry Mortgage Street Level Mortgage News | EP. 132
Jul 29, 2025
Rob Campbell joins the conversation for an insightful look at the current mortgage landscape. He shares observations from the trenches, discussing the complexities of renewal versus refinancing. Interest rates are in focus as fixed rates rise while the Bank of Canada holds steady. They uncover trends in home purchases, skepticism about mortgage accessibility, and the resilience of some brokers amidst market downturns. Rob and Ron also tackle the frustrating regulatory hurdles borrowers face, revealing the absurdities of today’s mortgage maze.
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Mortgage Business Uptick Explained
- Mortgage business increased in early 2024 due to lower fixed rates dipping below 4%.
- Rate drops encouraged purchase activity after a prolonged slump in real estate purchases.
No Rate Changes Near Term
- The Bank of Canada will not cut or raise rates in the near term, including upcoming meetings.
- Rate hikes are unlikely; market must accept fixed rates around 4.3% to 4.4%.
When to Choose Variable Mortgages
- Choose variable mortgage only if you plan to sell or move soon to avoid locking in higher fixed rates.
- If you want to lock a rate, act quickly as the opportunity to lock below 4% is gone.