Lorie Schmidt

09/19/2025

I wanted to share some news that could impact the housing market. Following a summer of modest gains, Canada's housing market could see a stronger pickup in activity this fall. The Bank of Canada has resumed cutting its overnight lending rate, a move that could stimulate buyer activity.

The next interest rate announcement is scheduled for Wednesday, October 29th.

Today, the Bank of Canada announced that it has cut the overnight lending rate by 25 basis points to 2.5%. This marks the first…

09/17/2025

08/08/2025

What Is the Overnight Lending Rate and Why It Matters (Canada - 2025 Update)

The overnight lending rate is the interest rate at which major banks lend to each other for one day. Set by the Bank of Canada, it serves as the foundation for all other short-term interest rates — including prime rates, mortgages, lines of credit, and more.

How It Works:
The Bank sets a target rate within a 0.5% “operating band” and uses open market operations to keep the real rate close to target.

Why It Changes:
To control inflation (target = 2%) and keep the economy stable.

Rate up → cool inflation and spending.

Rate down → boost borrowing and economic growth.

During COVID-19:
The rate was slashed to 0.25% to cushion the economy. This made borrowing cheap but also fueled rising inflation and asset prices.

World Impact:

Borrowing gets cheaper or more expensive, affecting mortgages and loans.

Savings returns rise or fall.

Housing markets heat up or cool off accordingly.

Today’s Rate (Aug 2025):
✔️ 2.75% after several cuts since 2024.
✔️ Relief for borrowers, but uncertainty ahead.
✔️ Tariff tensions with the U.S. (steel, aluminum, energy) complicate the Bank’s future moves.

Interest rates can shape the financial lives of Canadians in powerful ways. Whether it’s the monthly cost of a mortgage or the return on…

08/04/2025

A perfect summer tradition with my long time friend Michelle.

Every year, we love strolling through Bronte Heritage Waterfront Park for Art in the Park. It’s always a joy to take in the creativity, chat with local artists, and soak up the lakeside atmosphere. We never get tired of seeing all the incredible artwork!

Summer fun!

07/30/2025

On July 30, the Bank of Canada (BoC) held its key interest rate steady at 2.75% for the third straight time, citing ongoing inflation pressures and market uncertainty.

🔹 No change for now: Borrowing costs for mortgages, loans, and credit lines remain unchanged.
🔹 Why the hold? The BoC pointed to a resilient economy and elevated core inflation, saying it needs more time to assess risks.
🔹 Next BoC update: Mark your calendar — September 17 is the next rate announcement.

Bottom line: The central bank is staying cautious, but rate relief could be on the horizon.

07/27/2025

Taking a breather between showings—enjoyed a quick bite at the Drake, followed by a sweet stop at The Grand Order of Divine Sweets.

07/06/2025

OPEN HOUSE
Are you looking for a condo? I’d love to invite you to view a beautiful unit at 1370 Main Street East, Unit 409, Milton.

This 757 sq ft condo offers:

* Vaulted ceilings and abundant natural light
* South-facing views overlooking a park
* Two spacious bedrooms
* Freshly painted in modern neutral tones
* Private balcony with French doors
* In-suite laundry and a large walk-in front closet
* Underground parking

Enjoy access to a clubhouse, gym, and car wash bay. The location is steps from shops, schools, and Milton GO, and minutes from Highway 401, trails, skiing, and the escarpment.

I’ll be at the property today, July 6th, from 2 -4 to answer any questions you may have.

Hope to see you there!

07/01/2025

🇨🇦 Happy Canada Day! 🍁

Grateful to call this beautiful country home. Today’s a chance to reflect, celebrate, and appreciate the people, places, and stories that make Canada so special.

06/25/2025

🏠 Hamilton Leads Canada in Home Price Drops — Opportunity for First-Time Buyers

In April, Hamilton’s average home price fell nearly $10K to $801,400, the largest drop among major Canadian cities, according to Ratehub.ca.

💰 Buyers now need $1,800 less in income to qualify for a mortgage.
📉 Lower prices and rising inventory are opening doors for first-time buyers.
👥 Trends like collective buying and smaller mortgages are shaping the market.

📊 Hamilton’s market is shifting, and for many, now may be the right time to buy.

Looking for a home in Hamilton.
Let’s chat!
Lorie Schmidt 905-510-4429

https://www.cbc.ca/news/canada/hamilton/hamilton-housing-1.7543771

A new report shows Hamilton saw the biggest improvement in mortgage affordability among major Canadian cities last month. It's welcome news for buyers like Upinder Dhillon, who is looking to buy a house near Mohawk College.

06/20/2025

📊 New data from the 2025 Canadian Renters Report reveals a growing shift in mindset: 54% of Canadian renters plan to buy a home within the next 5 years — and 1 in 3 of them are aiming to do it within just 2!

Despite more than half spending over a third of their income on rent, renters are eyeing homeownership. But what’s holding them back?

🏠 40% are waiting for prices to drop

📉 29% are hoping for lower interest rates

💸 Over 25% say they simply can’t qualify for financing

Royal LePage CEO Phil Soper says: “Waiting rarely works — prices don’t tend to go down.”

💬 Is now the time to buy?

Let’s chat!
Lorie Schmidt 905=510-4429
[email protected]



https://blog.royallepage.ca/despite-falling-prices-and-lower-interest-rates-many-renters-are-still-pressing-pause-on-home-ownership/

06/20/2025

🏡 Over half of Canadian renters plan to buy a home within 5 years — and 1 in 3 aim to do so within 2 years.

But many are still waiting:

🔻 40% for prices to drop

📉 29% for lower interest rates

💸 25% can’t qualify for a mortgage

“Waiting rarely works — home prices don’t usually fall,” says Royal LePage CEO Phil Soper.

Is now the time to buy?

Let’s chat!
Lorie Schmidt 905- 510-4429
[email protected]

The majority of those Canadians who currently rent have their eyes set on purchasing a home within the next five years, according to Royal Lepage.

06/15/2025

Happy Father’s Day!
Thank you to all the dads and father figures for your love, strength, and support. Today, we celebrate you! 💙