http://www.tylerschwendemortgages.com/

Tyler Schwende Mortgages, 25 Scarsdale Road, Unit 12, Toronto, ON (2026)

12/10/2025

⛔️ BoC HOLDS RATE TODAY ⛔️

As widely predicted the Bank of Canada held their key lending rate today at 2.25%.

No change to fixed or variable rates.

Swipe right on image above for coles notes of today’s announcement ☝️

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 / Brokerage # 10534

# rateannouncement

12/10/2025

⛔️ BoC HOLDS RATE TODAY ⛔️

As widely predicted the Bank of Canada held their key lending rate today at 2.25%.

No change to fixed or variable rates.

Swipe right on image above for coles notes of today’s announcement ☝️

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 / Brokerage # 10534

# rateannouncement

10/13/2025

🦃 HAPPY THANKSGIVING 🦃

From my famjam to yours - have an amazing holiday weekend!

Hopefully it’s filled with lots of good food, tons of laughs and maybe a celebratory drink or two!

Cheers 🍻🍻🍻

❤️

12/11/2024

🥷 BOC SLASHES RATE BY 0.5% 🥷

The Bank of Canada (BoC) has become a rate cutting ninja and SLASHED its benchmark rate by 0.50% AGAIN today!

The acceleration in rate cuts has occurred due to growing signs of persistent softening in the economy and job market.

GDP growth undershot the BoC’s forecast in Q3 and looks poised to undershoot again in Q4. The unemployment rate in Canada at 6.8% in November has risen by 1% since last year, or 2% since July 2022 when conditions were overheating.

With that said, the central bank will take “a more gradual approach” to monetary policy adjustments moving forward which means the BoC will likely downshift to 0.25% reductions in their future meetings in 2025.

🤔 What this means for your mortgage!

Variable-rate mortgages: Prime rate, upon which variable-rate mortgages are priced, is expected to fall to 5.45% at most major lenders in the coming days which means if you have a variable rate, it will also fall by 0.50%.

This will lower payments for variable rate holders by approximately $28/m per $100,000 of mortgage balance. So if you have a $500K mortgage, your mortgage payment should fall by about $140/m.

If you have a static payment variable rate product (i.e. variable rate mortgage with TD or BMO), your payment will not change due to the lower rate. You’ll have to call your lender customer service to see what your options are if you want to reduce your payment.

Fixed-rate mortgages: Your mortgage term/rate remains unaffected by this announcement.

⏩ Looking forward....

I expect that a weak economy will push the BoC to cut their benchmark rate all the way down to 2-2.25% by end of 2025 which means potentially another 1-1.25% in further cuts (BoC overnight rate currently at 3.25% after today’s cut).

Have questions? I’ve got answers - send me a DM!

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 / Brokerage # 10534

10/23/2024

🎉 HUGE RATE CUT 🎉

The Bank of Canada has slashed its benchmark rate by 0.5% today amid continuing signs of a sluggish economy and plunging inflation.

This brings their trendsetting interest rate to 3.75%, its fourth rate reduction in a row and the biggest single cut since the beginning of the COVID-19 pandemic more than four years ago.

The Bank’s last 50-basis-point cut took place in March 2020, when it trimmed rates to a rock-bottom 0.25% as the economy ground to a halt in the face of a looming pandemic.

Inflation has posted a big drop since hitting a four-decade high of 8.1% in June 2022, coming in at 1.6% last month.

This cut is welcome relief for scores of homeowners who’d seen borrowing costs spike during the Bank’s series of hikes (especially those with variable rates) and also improved the outlook for hopeful homebuyers.

⬅️ Slide left on the above post for more info on how this might impact your variable rate!

The Bank is scheduled to make its final interest rate decision of the year on December 6, with market watchers expecting cuts to continue in the coming months – and it indicated its view that the policy rate needs to fall further if the economy continues to evolve as currently forecast.

Have questions? I’ve got answers - send me a DM!

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 / Brokerage # 10534

# rateannouncement

09/16/2024

🥳 MORTGAGE RULE CHANGES COMING 🥳

First-time homebuyers, as well as those purchasing new builds, will soon be able to take out insured mortgages with a 30-year amortization, up from the typical 25-year payback period. This will likely increase borrowing power by 10-15%.

Additionally, the Liberals are raising the price cap for taking out insured mortgages to $1.5 million compared with the previous bar of $1 million. Both proposed changes would go into effect on Dec. 15.

The reason for these changes? To make it easier for especially first time home buyers to get into their dream home.

Have more questions? Send me a DM - let’s chat!

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 /
Brokerage # 10534

09/04/2024

🕺OHHH YAAA RATE CUT! 🕺

The Bank of Canada has delivered another rate cut today, lowering its key lending rate by 0.25% down to 4.25%.

This is the central bank’s 3rd rate cut since the pandemic in March 2020.

The BoC reiterated that it is “reasonable to expect further cuts” as long as those expectations are confirmed in their data.

🕺What this means for your mortgage!

Variable-rate mortgages: Prime rate, upon which variable-rate mortgages are priced, is expected to fall to 6.45% at most major lenders in the coming days which means if you have a variable rate, it will also fall by 0.25%.

This will lower payments for variable rate holders by approximately $13-$14/m per $100,000 of mortgage balance. So if you have a $500K mortgage, your mortgage payment should fall by about $65-70/m.

If you have a static payment variable rate product (i.e. variable rate mortgage with TD or BMO), your payment will not change due to the lower rate. You’ll have to call your lender customer service to see what your options are if you want to reduce your payment.

Fixed-rate mortgages: Your mortgage term/rate remains unaffected by this announcement.

🕺Looking forward...

Most economists are now predicting the Bank of Canada’s key lending rate to be at 3% by next July/September (currently at 4.25%) which means they likely will cut another 1.25% in the next 8-12 months. If the economic data continues to worsen, further cuts could be warranted beyond that.

Have questions? I’ve got answers - send me a DM!

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 / Brokerage # 10534

# rateannouncement

07/24/2024

🎸 RATE CUT ROCK OUT 🎸

Yesssss - they did it again!

The Coles notes on today’s Bank of Canada cut:

📉 The Bank of Canada’s overnight rate was cut by 0.25% bringing it down to 4.5%

📉 Most lender’s will lower their prime rates by the same 0.25%

📉 This means if you have a variable rate, it will also fall by 0.25% - no impact if you have a fixed rate.

📉 For every $100K of mortgage, the 0.25% cut will lower your variable rate payment by approx. $13/m (i.e. $500K mortgage = $65/m reduction in payment

Most economists expect that there will be two additional rate cuts this year that will lower the BoC overnight rate to 4% by the end of 2024! ROCK OUT!

Don’t stop now indeed!

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 / Brokerage # 10534

# rateannouncement

06/05/2024

🥳 THE FIRST CUT IS HERE! 🥳

Excuse me while I scream a little but the first Bank of Canada rate cut is here and I can’t hold in my excitement! Woooooo! It only took 4 years in the making but Canadian variable rate mortgage holders can rejoice…at least a little bit.

The Bank of Canada lowered its key lending rate by 25 basis points to 4.75%.

🤔 What this means for your mortgage!

Variable-rate mortgages: Prime rate, upon which variable-rate mortgages are priced, is expected to fall to 6.95% at most major lenders in the coming days which means if you have a variable rate, it will also fall by 0.25%.

This will lower payments for variable rate holders by approximately $13-$14/m per $100,000 of mortgage balance. So if you have a $500K mortgage, your mortgage payment should fall by about $70/m.

If you have a static payment variable rate product (i.e. mortgage with TD or BMO), your payment will not change due to the lower rate. You’ll have to call lender customer service to see what your options are.

Fixed-rate mortgages: Your mortgage term/rate remains unaffected by this announcement.

🤔 Looking forward...

The Bank’s next rate decision is scheduled for July 24, 2024.

Whether or not the Bank of Canada will deliver another rate reduction at its next meeting remains dependent on economic performance between now and then. However, most economists are predicting another 0.25% cut next month.

Have questions or want to review your mortgage options? Send me a DM - let’s chat!

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 / Brokerage # 10534

# rateannouncement

04/10/2024

📉BOC STAYS THE COURSE📉

The Bank of Canada has held interest rates in place for a sixth consecutive time, leaving its policy rate unchanged even as speculation continues to grow around a timeline for its first cut.

Few had expected the Bank to announce a rate cut as early as today, although expectations are hardening around a likely rate drop in the summer – possibly in June, when its next decision on rates is due.

Policymakers have held the trendsetting interest rate at a 23-year high in recent months to keep inflation in check, although the consumer price index (CPI) fell to 2.8% in February, a reading that put it within the central bank’s target range.

Canada’s economy expanded at its fastest rate for a year in January, with GDP growth (gross domestic product) ticking up to 0.6% in a development that all but torpedoed the prospect of an April rate cut.

Still, the national jobless rate jumped to 6.1% in March, the largest month-over-month increase in the unemployment rate since mid-2022, as the economy shed 2,200 jobs.

Cuts are coming - it’s just a matter of when.

Have questions? I’ve got answers - send me a DM!

Tyler Schwende - Mortgage Agent Level 2
📱647-973-2053
📧 [email protected]
License # M12000861 / Brokerage # 10534

# rateannouncement

04/09/2024

My Lennox turned 6 - the world is your oyster darling! ❤️ you to the moon and back!

04/02/2024

Can’t say enough great things about my brokerage SAFEBRIDGE Financial! Another year of being nominated for the Canadian Mortgage Awards - so proud of this firm!

Tyler Schwende Mortgages

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