Ian Brownlie, Mortgage Intelligence

10/29/2025

The central bank has lowered its key policy rate by 25 basis points to 2.25%, in line with expectations. This is the ninth reduction since the Bank began easing monetary policy.

The reasoning for the decision for the Bank of Canada to cut the overnight interest rate to 2.25%. "It is our hope that the latest rate cut will provide needed economic momentum during these uncertain times. Rate relief is also essential to Canadian households, due to the growing financial strain Canadians face—whether striving to purchase their first home or managing higher mortgage costs at renewal."

04/16/2025

The Bank of Canada today maintained its target for the overnight rate at 2.75%.

The major shift in direction of US trade policy and the unpredictability of tariffs have increased uncertainty, diminished prospects for economic growth, and raised inflation expectations. This unwelcome uncertainty makes it unusually challenging to project GDP growth and inflation in Canada.

03/12/2025

The Bank of Canada announced today a 25 basis point rate cut, lowering its policy rate to 2.75% in response to growing economic uncertainty caused by new U.S. tariffs on Canadian steel and aluminum.

With the ongoing trade tensions, Bank of Canada Governor Tiff Macklem warned that while inflation remains stable and the economy showed growth in late 2024, uncertainty around trade policies could impact economic activity, employment, and consumer confidence.

What Does This Mean for You?
• LOWER BORROWING COSTS: If you have a variable-rate mortgage or home equity line of credit (HELOC), you could see a slight decrease in your interest rate.
• POTENTIAL REFINANCING OPPORTUNITIES: If you're considering refinancing, now may be a good time to explore your options.
• FUTURE MARKET VOLATILITY: Ongoing trade disputes may lead to further economic shifts, so staying informed is key.

If you have any questions about how this rate change affects your mortgage or financial plans, I'm here to help. Call me at 519-736-2955.

12/12/2024

The Bank of Canada has lowered its benchmark rate by 50 basis points, bringing it down to 3.25%. This marks the fifth consecutive cut since June. The rate drop should lower Prime rate from 5.95% to 5.45% and result in a $30 payment reduction per month for every $100,000 borrowed based on a 25 year amortization.

This decision offers much-needed relief to middle-class families, aspiring homeowners, and first-time buyers who have been navigating significant financial pressures.

Should you wish to discuss mortgage financing please call me at 519-736-2955

09/27/2024

Thank you so much for your kind words!! Lisa Land

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I have dealt with Ian on multiple occasions over the last 25-30 years. His service and attention to detail, combined with his knowledge and experience helped me and guided me. I found Ian honest, hard working, confidential and trustworthy- I have always felt he had my best interests, combining my current situation and my long term goals in the forefront of his different proposals as he has many lenders to offer depending on individual situations. I feel as though Ian Brownlie has been offering a consierge type, custom service well before anyone else. I appreciate his hard work and I am proud to call him my friend after all these years. Everyone that I have referred to Ian has had a positive experience. If you are looking for loyal and trustworthy in this crazy unpredictable world - I encourage you to give yourself the opportunity to contact him. Even if your plans are 6 months, a year, or a week out - I believe it will be worth your while.
It’s me- Lisa Stiles.
btw if I’ve never said thank you to you directly, Ian Brownlie, surprise this is it! I really appreciate you getting me through all of my seasons of life!

09/27/2024

Canada’s banking regulator says it’s ending the requirement for borrowers on uninsured mortgages to complete a stress test when switching lenders at renewal time.

Mortgage providers will no longer have to apply the minimum qualifying rate when a borrower moves from another lender and keeps their existing loan amount and amortization schedule, the Office of the Superintendent of Financial Institutions (OSFI) said on Wednesday. The change takes effect on November 21/24.

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09/17/2024

FEDERAL GOVERNMENT RAISING CAP ON INSURED MORTGAGES

The federal government is raising the cap on insured mortgages to $1.5 million and expanding access to extended mortgage amortization periods, a bid to tackle a housing affordability crisis that’s put home ownership out of reach of scores of Canadians.

Finance minister Chrystia Freeland said that the government was increasing the limit on insured mortgages from its previous level of $1 million and allowing home buyers to take out a 30-year loan if they’re buying for the first time or purchasing a newly built house.

The government had previously indicated that a 30-year amortization would only be available to first-time buyers who were purchasing a newly built home.

Both changes are scheduled to come into effect on December 15.

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09/05/2024

BANK OF CANADA CUTS ITS POLICY INTEREST RATE

After the Bank of Canada reduced its overnight interest rate in both June and July, Canadians were hoping for more good news today. They got it!
The B of C’s decision to further reduce the rate by 0.25% is a welcome development that is expected to support an increase in housing market activity.
The B of C's rate now sits at 4.25% – down from a 23-year high of 5% at the beginning of the summer. Effective September 5, prime rate has now dropped to 6.45%.

The decision is a further indication of the Bank’s confidence that inflation and the overall economy have cooled enough to justify lowering borrowing costs, with Canadians on variable-rate mortgages and those with home equity lines of credit (HELOCs) set to see their rates fall again.

06/06/2024

The Bank of Canada finally lowered its benchmark rate on Wednesday (June 5, 2024) with a 25-basis-point reduction – and has left the door “open wide” for further cuts this year. Prime rate fell from 7.7% to 7.45%

04/11/2024

The federal government announced it will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes!

04/10/2024

As expected, the Bank of Canada has left its overnight target rate unchanged at 5.00% today.

In its statement, the Bank said, “While inflation is still too high and risks remain, CPI and core inflation have eased further in recent months. The Council will be looking for evidence that this downward momentum is sustained.”

In its latest forecast, the Bank said it expects headline inflation to remain near 3% for the first half of this year before moving below 2.50% in the second half and reaching the 2% inflation target in 2025.

03/07/2024

The Bank of Canada held the overnight rate at 5%. This is the fourth consecutive hold and was widely expected by most economists.

While inflation fell to 2.9% in January, and the economy shows signs of weakening, the Bank of Canada said it needed more time for the higher rates to do their work.

Most economists expect rates to start to fall after June of this year.

If you're looking at what your options are, or just looking to improve your cash flow, please call me at 519-736-2955.