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As we wrap up the year, I wanted to share a quick look at what actually mattered in mortgages in 2025 — beyond the headlines.

This isn’t a market forecast or a sales pitch. It’s a snapshot of the real patterns, quiet wins, and opportunities I saw across clients this year — and how to think about 2026 with more clarity.

Not every win made the news — but some of the biggest ones happened quietly.

Variable-rate holders finally saw relief.

Borrowers who took the early gamble got the rate cuts they were hoping for in 2025. That said, the path ahead isn’t as clear, and strategy matters more than ever from here.

Shorter-term fixed borrowers gained flexibility.

Clients who chose 1–3 year fixed terms in 2023–2024 were able to refinance early in 2025 with smaller penalties and lock in meaningful savings.

Refinancing made sense again — even with penalties.

With rates back in the low 4s, strategic refinances to consolidate debt, fund renovations, or move forward on investment plans became viable again.

First-time buyer affordability quietly improved.

Softer home values, the return of 30-year amortizations for insured buyers, and an insured purchase price cap increase to $1.5M reopened the door for many buyers.

Looking back across 60 completed transactions, a few clear trends stood out.

The most asked questions of 2025:

• What are closing costs — and when do I need to pay them?
• Should I renew or refinance, and what’s the real impact of each?
• How much down payment actually makes sense?

What clients chose:

• Average interest rate at closing: 4.75%
• Average loan amount: $640,000

Most common terms:

• 3-Year Fixed: 34.5%
• 5-Year Fixed: 32.7%
• 5-Year Variable: 21.8%

Transaction mix:

• 43.6% Purchases
• 45.4% Refinances
• 10.9% Renewals

Most-used lenders: Scotiabank, TD Bank, First National

The takeaway?

2025 wasn’t about chasing the lowest rate — it was about choosing the right structure for each situation.

This year opened doors that weren’t available 12–18 months ago.

Home equity became usable again.

We helped clients solve real financial problems using equity — from improving cash flow to funding renovations or planning investments.

Rate stability created planning windows.

As rates stabilized, borrowers could plan around more predictable carrying costs instead of reacting to constant volatility.

Strategic term selection mattered more than ever.

Understanding economic trends and probabilities — not predictions — shaped better decisions around flexibility and future options.

Mortgage monitoring became a real advantage.

Tracking home value, mortgage balance, buying power, and penalties monthly turned mortgages into something clients could act on — not just renew.

👉 Track yours here.

If 2025 was about adjustment, 2026 is about preparation.

• Review your mortgage annually — not just at renewal. Understanding your options early gives you leverage, not panic.

  👉 Book a strategy conversation: Here

• Get proactive with renewal strategy. Learn how banks price renewals — and how to avoid overpaying.

  👉 Sign up for my 2026 Renewal Masterclass: 👉 Here

• Clean up high-interest consumer debt
• Self-employed? Organize income early and understand the impact
• Track your mortgage for opportunities. Monitoring rates, equity, and market shifts helps you act at the right time — not react.

  👉 Track your mortgage here: Here

• Open an FHSA before the end of 2025: You get an $8,000 contribution room for the year you open it — even if you don’t fund it right away.
• Maximize RRSP contributions: Up to $60,000 per person — deadline is March.
• Know your real buying power before you shop. Pre-approval isn’t just a number — it’s a strategy.

  👉 Book a Consultation with me

If you want help reviewing your situation, planning ahead, or understanding what options make sense for you going into 2026, I’m always happy to help.

Wishing you and your family a great holiday season and a strong start to the year ahead — we’ll be taking a brief break, with the newsletter returning January 8th.

— Marshall

Your renewal should open doors —
not close them.I’m hosting a 2026 Mortgage Renewal Masterclass, that walks you through everything you need to think about when going through your renewal.