If you locked in your mortgage during the golden days of sub-2% rates, congratulations—you caught lightning in a bottle. But now, the party’s ending. Over 60% of Canadian fixed-rate mortgages are set to renew by the end of 2026, and the sticker shock is real.

A $400,000 mortgage at 1.89% becomes $400 to $700 more per month at today’s average 5.5%–6% range—and that’s not even the worst-case scenario.

My friends and clients, Jillian and Marco, (not their real names to protect them), a couple in Wasaga Beach who locked in at 1.84% in 2020 for a 5-year fixed mortgage. Their payment on their $380,000 mortgage was around $1,570 a month. Life was manageable. Two kids, decent jobs, a little breathing room for activities and savings.

Last month, they got their renewal letter. Their lender offered them a 5.64% renewal rate. That same mortgage? Now it’s $2,240 a month. That’s a $670 increase every single month.

Suddenly,

· the kids’ extracurriculars became negotiable.

· Vacations? Canceled.

· the stress? Palpable.

But here’s what changed when they called me:

✅ We did a full mortgage review — not just rate comparison, but budget alignment.

✅ We found a better rate through one of the 80+ lenders I work with—many of whom offer exclusive, unadvertised specials just for mortgage brokers like me, saving them over $150/month versus their bank’s offer.

✅ We restructured with a longer amortization, softening the monthly hit while keeping flexibility.

✅ And we added a Home Equity Line of Credit in case cash flow gets tight.

The result? Still an increase—but a manageable one. More importantly, they felt empowered again, not panicked.

This is your Mortgage Renewal Survival Guide:

1.Start Early – Don't wait for the letter. Most banks send them 30 days before maturity, but you can start planning 120–180 days out.

2.NEVER (seriously, NEVER, NEVER, NEVER) Accept the First Offer – That renewal letter is usually convenient, not competitive.

3.Shop With a Broker – I work with 80+ lenders—banks, credit unions, and monoline lenders—with access to daily rate specials not available to the “mainline” bankers. Simply put, I fight harder to get you the very best mortgage for your needs/Every Single Time!

4.Restructure Intelligently – Blend and extend? Refinance? HELOC? Payment smoothing? There are options—but only if you start early.

5.Think Big Picture – Sometimes we need to look at debt consolidation, budgeting, or interest-only options to ride out the higher rate period.

Here’s a quick example:

· Current mortgage balance: $450,000

· Old payment @ 1.89%: $1,886/month

· New payment @ 5.49%: $2,793/month

· Option: Re-amortize to 30 years = $2,512/month — saves ~$280/month

· Add HELOC for emergency buffer = peace of mind

These aren’t one-size-fits-all solutions—but they’re real strategies that are working for people across Georgian Bay right now.

Let’s not wait for the shock. Let’s plan together now—because your bank’s letter might arrive with a rate, but I’ll show up with a strategy.

Stuart Lessels

Your “Go To” Mortgage Broker for Georgian Bay and beyond

📧 stuart@housenow.ca

📞 (705) 445-1234

The Bank of Canada held its key overnight rate steady at 2.75%. While it’s not the rate cut many were hoping for, it’s a clear signal: we’re nearing a turning point.

Why the hold? - GDP growth is holding up (2.2% in Q1), boosted by a flurry of exports — likely folks racing to beat new U.S. tariffs. - Headline inflation is easing — now 1.7% — but core inflation (the sticky stuff) is still too warm for comfort. - Trade tensions and global uncertainty have the BoC treading carefully. The takeaway? The BoC isn’t ready to cut yet — but we’re getting close. Most economists predict at least two cuts before year-end, possibly starting in July.

What This Means for You:

🏠 Homebuyers: Fixed rates have started to slide thanks to bond market movements. If you’re shopping this summer, your timing might be *chef’s kiss*.

🔁 Renewals: More than half of Canadians will be renewing mortgages in the next 18 months. Today’s hold means we’re likely at the *top* of this rate cycle.

Great news if you're feeling the pressure.

📉 Variable-rate holders: You’re still in wait-and-see mode, but likely not for much longer. A cut could arrive next announcement — stay ready.

💰 Investors: With rates expected to drop later this year, you may want to re-run the numbers on that property that didn’t cash flow last fall.

📞 Lenders factor in all the variables including the anticipated rate drops. Because of that, it is often beneficial to run some numbers ahead of time so you can have a "plan B" or even a "plan c" ready to go. IT's free and there's never a better time to book a call with me than times when the market is catching it's breath like right now. Contact me and let me know the best time for you to chat!

Stuart Lessels

Your “Go To” Mortgage Broker for Georgian Bay and beyond

📧 stuart@housenow.ca

📞 (705) 445-1234

How House Fires Could Be Your Hottest Investment Yet: The Untapped World of Insurance Rentals

By Stuart Lessels, your "Go To" Mortgage Broker for Georgian Bay and Beyond

Picture this: a family is jolted awake in the middle of the night. Smoke. Flames. Chaos. Within hours, their home is uninhabitable, and they’re left scrambling for a roof over their heads. Enter you — the investor with a clean, cozy, fully furnished home ready to save the day… and earn steady, premium income in the process.

Welcome to the under-the-radar world of insurance rentals, a niche that combines compassion with cash flow.

What Is an Insurance Rental?

When disaster strikes — house fires, floods, or other damage — insurance companies are responsible for putting displaced families into temporary accommodations. Often, this means hotels. But hotels can be cramped, impersonal, and wildly expensive.

That’s where your furnished rental property steps in as the hero.

Instead of renting to long-term tenants, you rent directly to insurance companies. The insurer becomes your client, footing the bill for a temporary home that feels like, well, home. These stays can range from a few weeks to several months, depending on how long repairs take.

Why This Niche is So Damn Sexy (Yes, Sexy!)

Let’s be honest. Traditional rentals have their moments, but also their migraines:

• Chasing late payments 💸
• Tenants ghosting you 👻
• Plumbing emergencies at 3 a.m. 🚽
• That one guy who insists on using the backyard as a scrap metal yard 😩

With insurance rentals, most of that stress disappears:

• You get premium rates, often 20–50% higher than regular rent.
• Your “tenant” is a deep-pocketed insurer.
• You won’t face eviction issues — these families want to move back into their own home.
• You’ll likely be fully booked if your property is near an urban centre.

Real Math. Real Money.

Let’s do a back-of-the-napkin calculation. You buy a modest home for $800,000 and furnish it for $20,000. You list it as an insurance rental at $6,000/month. The family stays for four months. That’s $24,000 in income. Insurers typically cover rent, utilities, furniture use, and even damages.

And remember: your interest payments? Tax deductible. Furniture? Write-off. The goodwill? Priceless (but also a marketing goldmine).

How to Get Started:

1.       Furnish the property smartly.

2.       Get proper insurance.

3.       List on relocation platforms or connect with insurance agents.

4.       Get pre-approved (that’s my department 😉).

5.       Track, manage, and repeat.

Wrap-Up:

Want to explore how this could work for you — or get pre-approved for your next insurance rental opportunity?

Until next week’s niche…

— Stuart Lessels

Your "Go To" Mortgage Broker for Georgian Bay and Beyond 

📞 (705) 445-1234

📧 stuart@housenow.ca