The Local Broker

Keeping Mortgage Payments a Top Priority During The Holidays

Managing Your Finances During the Holidays Without Losing Sight of What Matters - The Local Broker For many Canadians, the holidays are one of the most enjoyable times of the year. They are filled with family gatherings, festive meals, gift giving, and a

Many Canadians who bought pre construction homes during the Covid real estate surge are now struggling to close. If you cannot get financing or are worried about a potential shortfall, this explains what really happens next and why the solution is rarely simple. Here is what you need to know before calling an LIT and who can help you explore your options.

When You Cannot Afford to Close on a Pre Construction Home: What Canadians Need to Know Before Calling an LIT - The Local Broker During the peak of the Covid housing boom, from early 2020 through early 2022, thousands of Canadians purchased pre construction homes and condos at

Did you know?
Ontario has the highest percentage of 2025–2026 mortgage renewals in the country.
If you’re renewing soon, you’re not alone — and planning early is the best move.

A small payment increase — even $20 a week — can knock years off your mortgage.
Little adjustments add up fast.

Your 2025 Mortgage Renewal Checklist:
✔ Check your remaining mortgage balance
✔ Compare 3 lender offers (not just one)
✔ Review penalties
✔ Consider a small payment increase
✔ Know your break-even point
✔ Lock in early if rates align
Save this for later.

Choosing to walk away from a mortgage is never simple, but it is sometimes the most responsible decision. A mortgage broker can help you explore every option and ensure you understand the consequences and alternatives before taking action.

When It Might Be the Right Time to Walk Away from a Mortgage - The Local Broker The idea of walking away from a home is one of the most difficult financial decisions a person can face. For many Canadians, a home is the centre of family

What is the mortgage stress test?
It’s the rule that says you must qualify at a higher rate than you’ll actually pay.
It exists to make sure homeowners can handle future rate changes — not to make your life harder.

Quick puzzle break.
Renewing your mortgage should not be this confusing.

3 Renewal Mistakes Ontario Homeowners Should Avoid

1. Waiting for the bank’s renewal letter

2. Assuming your lender automatically gives their best rate

3. Not reviewing penalty rules from your current mortgage

Save this if your renewal is coming up in 2025 or 2026.