July 22, 2025 • 12 mins
In this episode, the discussion opens with an introduction by Steve Hamoen, followed by a sponsor message from Real Approved Inc. The focus then shifts to changes in mortgage payments and advice on renewals, examining their broader implications for the housing market. The conversation highlights recent developments and a broker focus at WealthONE in the alt-A lending sector. The impact of Ontario's Bill 17 on development is explored, alongside the influence of the Canadian bond market on mortgage rates. The episode wraps up with closing remarks and a sponsor message from Real Approved Inc.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
"Welcome to the Ontario Mortgage & Real EstateInsights Podcast, your go-to source for the
(00:04):
latest developments, trends, and regulatorychanges in the industry.
I'm your host, Steve Hamoen, here to provideyou with insights sourced from reputable news
outlets to help you stay informed and makewell-informed decisions."
"This podcast is brought to you by RealApproved Inc., a trusted mortgage brokerage
(00:25):
dedicated to helping Canadians achieve theirhomeownership dreams.
Visit realapproved.ca to learn more about howour experienced team can assist you with your
mortgage needs.
Let's dive into today's episode."
"Today, we're diving into the recent news fromBarrie, where mortgage payments are easing due
to Bank of Canada rate cuts, but renewal stressis a growing concern.
(00:49):
It’s a bit of a mixed bag right now, isn’t it,Janine?"
"Absolutely, Steve.
While it’s great to hear that homeowners withadjustable-rate mortgages in Barrie are seeing
a 5 to 7 percent drop in their payments,there’s a looming concern with the upcoming
renewals.
Over half of Canadian mortgages are set torenew by the end of 2026, and many homeowners
(01:12):
could face higher payments compared to the lowrates during the pandemic."
"That's right.
For example, if someone took out a $500,000mortgage at 1.8 percent in 2020, their monthly
payment would have been around $2,100.
With renewal rates now around 4.4 percent,those payments could jump to roughly $2,700.
(01:34):
That's a $600 increase, which is significantfor any household budget."
"It really is, Steve.
And while the Bank of Canada’s FinancialStability Report highlights these risks, it’s
important for homeowners to prepare.
I always advise starting the process early,about 6 to 8 months before renewal, and
consider options like making lump-sumprepayments or talking to a mortgage broker
(01:57):
about blend-and-extend options."
"Good advice, Janine.
And for those who are worried about the stresstest, remember that while it offers some
protection, real-world affordability will alsodepend on factors like income, inflation, and
job security.
It's a time to be proactive and strategic."
(02:17):
"Exactly, Steve.
And while not everyone will see an increase,those who locked into high variable rates in
2023 might actually see a drop.
But fixed-rate borrowers from 2020 to 2021 willlikely have to pay more.
The key is understanding your specificsituation and planning accordingly."
(02:40):
"And let's not forget about the broaderimplications for the housing market.
Some areas might see more listings ashomeowners try to manage higher mortgage
burdens.
It’s a dynamic time, and it's crucial forhomeowners to stay informed and seek guidance
if needed."
Let's delve into the recent developments atWealthONE, a bank that's making waves in the
(03:01):
alt-A lending market.
With new ownership and a strategic pivot,WealthONE is positioning itself as a major
player in Canada’s financial landscape.
This is an intriguing move, don’t you think,Janine?
Absolutely, Steve.
WealthONE's journey is quite fascinating.
Initially, they faced some challenges,particularly with their focus on serving
(03:23):
Chinese immigrants.
But now, they’re broadening their scope tocater to entrepreneurs, contractors, and
newcomers.
These are clients who might not have atraditional income profile but possess high net
worth and creditworthiness.
Exactly, Janine.
The acquisition by a consortium led byGlobalive, founded by Anthony Lacavera, marks a
(03:46):
new chapter for WealthONE.
With a fresh board and leadership, includingPresident and CEO Paul Leonard, they're
targeting an underserved niche in the Canadianmarket.
It’s like they’re taking a page from theEquitable playbook, aiming to carve out a space
where traditional banks might not tread aseasily.
And what’s really interesting, Steve, is theirfocus on brokers as a core part of their
(04:08):
strategy.
By forming partnerships with major players likeDLC and M3 Group, they’re ensuring that their
alt-A products reach a broader audience.
This approach seems to be paying off, eventhough they faced setbacks, such as the
divestment of shares by previous shareholdersdue to regulatory issues.
That’s right, Janine.
(04:28):
Despite those challenges, WealthONE retainedits regulatory approvals and continued to grow
its niche product line.
The investment from Globalive is allowing themto bolster their technology and cyber security,
which is crucial for a bank looking to innovatein digital services.
It’s exciting to see them leverage technologyto enhance their offerings.
(04:50):
With open banking on the horizon, WealthONEcould be in a prime position to introduce new
lending products that are nimble andcustomer-focused.
Their new board chair, John Webster, brings 37years of experience in the mortgage industry,
which should help them navigate thiscompetitive landscape.
John Webster’s appointment indeed signals theirambition to be a leader in mortgages and
(05:14):
alternative lending.
His experience with institutions like MapleTrust and Scotia Mortgage Authority is
invaluable.
WealthONE is clearly gearing up to not justsurvive but thrive in the alt-A market.
And for brokers, this means more opportunitiesto offer diverse products to clients who fall
outside the conventional lending criteria.
(05:35):
WealthONE's focus on providing efficient andreliable service to brokers can only enhance
their reputation in the market.
Absolutely.
As they continue to grow and refine theirofferings, it’ll be interesting to see how
WealthONE shapes the future of alt-A lending inCanada.
They’re certainly a bank to watch as they aimto capitalize on regulatory changes and the
(05:57):
evolving financial needs of Canadians.
Let's dive into the recent passage of Ontario'sBill 17, known as the Protect Ontario by
Building Faster and Smarter Act, 2025.
This legislation is set to acceleratedevelopment approvals and streamline building
charges across the province.
What are your thoughts on this, Janine?
(06:18):
Well, Steve, this is quite a significantdevelopment.
Bill 17 is designed to reduce red tape andfast-track housing and infrastructure projects,
which is good news for homebuyers andinvestors.
It introduces some key reforms like deferreddevelopment charges until occupancy and
municipal planning standardization.
(06:40):
This means that builders can minimize upfrontborrowing, which could, in turn, speed up the
process from approval to move-in.
Absolutely, Janine.
For Burlington buyers, these measures couldlead to more timely completion of mid-rise
condos and townhome developments.
This not only enhances selection but alsooffers more financing choices when planning a
(07:01):
move in the fall.
Jason Woods from TLC Mortgage Group is offeringtargeted advisory sessions to help buyers and
investors capitalize on these changes.
It's a proactive approach that aligns with themarket's evolving landscape.
Yes, Jason Woods is really stepping up to guidelocal buyers through this transition.
(07:22):
He’s launching September Strategy Workshops,which are virtual sessions focused on
leveraging Bill 17’s impact.
Plus, he’s providing pre-approvals and ratestrategies to ensure clients are ready to act
when new developments launch.
This kind of preparation is crucial, especiallywhen dealing with transit-linked developments,
(07:43):
where zoning changes could impact propertyvalues.
That's a great point, Janine.
Timing is everything in real estate, and Bill17 could open new windows and choices.
By preparing now, Burlington buyers andinvestors can potentially seize financial
advantages.
It’s all about being ready to move quickly whenopportunities arise, and Jason's approach seems
(08:06):
to be geared towards ensuring his clients arewell-positioned to do just that.
Exactly, Steve.
Being prepared means understanding how theselegislative changes impact your specific
circumstances.
Jason Woods emphasizes the importance ofreadiness, stating that fall market access
depends heavily on timing.
This proactive stance can make all thedifference for buyers looking to make the most
(08:30):
of the current market conditions.
In the end, it's about using these legislativechanges to optimize your mortgage and
purchasing strategy.
With Bill 17 in place, there are newopportunities on the horizon for those who are
ready to act.
It's an exciting time for Burlington buyers,and Jason Woods seems to be providing the tools
and insights needed to navigate this evolvingmarket.
(08:52):
Now, let's turn our attention to the Canadianbond market, specifically the 10-year
government bond yield, which has recently easedfrom its one-year highs.
This is an important development for bothinvestors and homeowners, as bond yields can
influence mortgage rates.
Janine, how does this shift in bond yieldsimpact the real estate landscape?
Well, Steve, when bond yields decrease, itoften leads to lower mortgage rates, which is
(09:17):
generally good news for homebuyers and thoselooking to refinance.
The recent dip to below 3.5% from a high of3.611% earlier in July reflects a broader rally
in global bond markets.
This rally has been driven by renewed concernsover US-China tariffs and uncertainty around
(09:38):
the Federal Reserve's policy, promptinginvestors to seek safer assets like government
bonds.
That's right, Janine.
The Canadian market has been reacting to bothinternational and domestic factors.
While high core inflation and strong jobcreation initially supported higher yields, the
softer headline CPI reading for June at 1.9%and stable labor market conditions have led to
(10:03):
expectations that the Bank of Canada willmaintain its current interest rate.
This stability can be reassuring for thoseconsidering long-term investments in real
estate.
Absolutely, Steve.
With the Bank of Canada likely holding interestrates steady, it provides a level of
predictability for buyers and investors.
The latest Business Outlook Survey alsoindicates that businesses are less worried
(10:27):
about severe US tariff actions and expectlittle change in inflation and employment.
This adds another layer of stability to themarket, which is crucial for long-term
planning.
And for those in the real estate sector,understanding these bond market dynamics is
essential.
Lower bond yields can mean more favorableconditions for borrowing, potentially leading
(10:47):
to increased activity in the housing market.
It's a reminder of how interconnected globalmarkets are and how they can influence local
economic conditions.
Exactly, Steve.
It highlights the importance of stayinginformed about both local and international
economic trends.
For homeowners and prospective buyers, thiscould be an opportune moment to assess their
(11:09):
mortgage options and consider refinancing if italigns with their financial goals.
It's all about seizing the right moment to makeinformed decisions.
Indeed, Janine.
As we continue to monitor these developments,it's clear that the easing of bond yields
presents both opportunities and challenges.
(11:30):
Staying proactive and informed is key tonavigating the changing landscape of mortgages
and real estate.
Thanks for tuning in to another episode of theOntario Mortgage & Real Estate Insights
Podcast.
We hope you found today's insights valuable asyou navigate the world of mortgages and real
estate.
Before you go, a quick reminder (11:49):
Real Approved is here to make your mortgage journey smoother.
Whether you're buying your first home orrefinancing, their experienced team is ready to
guide you with personalized support every stepof the way.
Visit realapproved.ca to get started and takethe next step toward achieving your
homeownership goals. Catch you next time, and stay informed with the latest insights!
"Welcome to the Ontario Mortgage & Real EstateInsights Podcast, your go-to source for the
(00:04):
latest developments, trends, and regulatorychanges in the industry.
I'm your host, Steve Hamoen, here to provideyou with insights sourced from reputable news
outlets to help you stay informed and makewell-informed decisions."
"This podcast is brought to you by RealApproved Inc., a trusted mortgage brokerage
(00:25):
dedicated to helping Canadians achieve theirhomeownership dreams.
Visit realapproved.ca to learn more about howour experienced team can assist you with your
mortgage needs.
Let's dive into today's episode."
"Today, we're diving into the recent news fromBarrie, where mortgage payments are easing due
to Bank of Canada rate cuts, but renewal stressis a growing concern.
(00:49):
It’s a bit of a mixed bag right now, isn’t it,Janine?"
"Absolutely, Steve.
While it’s great to hear that homeowners withadjustable-rate mortgages in Barrie are seeing
a 5 to 7 percent drop in their payments,there’s a looming concern with the upcoming
renewals.
Over half of Canadian mortgages are set torenew by the end of 2026, and many homeowners
(01:12):
could face higher payments compared to the lowrates during the pandemic."
"That's right.
For example, if someone took out a $500,000mortgage at 1.8 percent in 2020, their monthly
payment would have been around $2,100.
With renewal rates now around 4.4 percent,those payments could jump to roughly $2,700.
(01:34):
That's a $600 increase, which is significantfor any household budget."
"It really is, Steve.
And while the Bank of Canada’s FinancialStability Report highlights these risks, it’s
important for homeowners to prepare.
I always advise starting the process early,about 6 to 8 months before renewal, and
consider options like making lump-sumprepayments or talking to a mortgage broker
(01:57):
about blend-and-extend options."
"Good advice, Janine.
And for those who are worried about the stresstest, remember that while it offers some
protection, real-world affordability will alsodepend on factors like income, inflation, and
job security.
It's a time to be proactive and strategic."
(02:17):
"Exactly, Steve.
And while not everyone will see an increase,those who locked into high variable rates in
2023 might actually see a drop.
But fixed-rate borrowers from 2020 to 2021 willlikely have to pay more.
The key is understanding your specificsituation and planning accordingly."
(02:40):
"And let's not forget about the broaderimplications for the housing market.
Some areas might see more listings ashomeowners try to manage higher mortgage
burdens.
It’s a dynamic time, and it's crucial forhomeowners to stay informed and seek guidance
if needed."
Let's delve into the recent developments atWealthONE, a bank that's making waves in the
(03:01):
alt-A lending market.
With new ownership and a strategic pivot,WealthONE is positioning itself as a major
player in Canada’s financial landscape.
This is an intriguing move, don’t you think,Janine?
Absolutely, Steve.
WealthONE's journey is quite fascinating.
Initially, they faced some challenges,particularly with their focus on serving
(03:23):
Chinese immigrants.
But now, they’re broadening their scope tocater to entrepreneurs, contractors, and
newcomers.
These are clients who might not have atraditional income profile but possess high net
worth and creditworthiness.
Exactly, Janine.
The acquisition by a consortium led byGlobalive, founded by Anthony Lacavera, marks a
(03:46):
new chapter for WealthONE.
With a fresh board and leadership, includingPresident and CEO Paul Leonard, they're
targeting an underserved niche in the Canadianmarket.
It’s like they’re taking a page from theEquitable playbook, aiming to carve out a space
where traditional banks might not tread aseasily.
And what’s really interesting, Steve, is theirfocus on brokers as a core part of their
(04:08):
strategy.
By forming partnerships with major players likeDLC and M3 Group, they’re ensuring that their
alt-A products reach a broader audience.
This approach seems to be paying off, eventhough they faced setbacks, such as the
divestment of shares by previous shareholdersdue to regulatory issues.
That’s right, Janine.
(04:28):
Despite those challenges, WealthONE retainedits regulatory approvals and continued to grow
its niche product line.
The investment from Globalive is allowing themto bolster their technology and cyber security,
which is crucial for a bank looking to innovatein digital services.
It’s exciting to see them leverage technologyto enhance their offerings.
(04:50):
With open banking on the horizon, WealthONEcould be in a prime position to introduce new
lending products that are nimble andcustomer-focused.
Their new board chair, John Webster, brings 37years of experience in the mortgage industry,
which should help them navigate thiscompetitive landscape.
John Webster’s appointment indeed signals theirambition to be a leader in mortgages and
(05:14):
alternative lending.
His experience with institutions like MapleTrust and Scotia Mortgage Authority is
invaluable.
WealthONE is clearly gearing up to not justsurvive but thrive in the alt-A market.
And for brokers, this means more opportunitiesto offer diverse products to clients who fall
outside the conventional lending criteria.
(05:35):
WealthONE's focus on providing efficient andreliable service to brokers can only enhance
their reputation in the market.
Absolutely.
As they continue to grow and refine theirofferings, it’ll be interesting to see how
WealthONE shapes the future of alt-A lending inCanada.
They’re certainly a bank to watch as they aimto capitalize on regulatory changes and the
(05:57):
evolving financial needs of Canadians.
Let's dive into the recent passage of Ontario'sBill 17, known as the Protect Ontario by
Building Faster and Smarter Act, 2025.
This legislation is set to acceleratedevelopment approvals and streamline building
charges across the province.
What are your thoughts on this, Janine?
(06:18):
Well, Steve, this is quite a significantdevelopment.
Bill 17 is designed to reduce red tape andfast-track housing and infrastructure projects,
which is good news for homebuyers andinvestors.
It introduces some key reforms like deferreddevelopment charges until occupancy and
municipal planning standardization.
(06:40):
This means that builders can minimize upfrontborrowing, which could, in turn, speed up the
process from approval to move-in.
Absolutely, Janine.
For Burlington buyers, these measures couldlead to more timely completion of mid-rise
condos and townhome developments.
This not only enhances selection but alsooffers more financing choices when planning a
(07:01):
move in the fall.
Jason Woods from TLC Mortgage Group is offeringtargeted advisory sessions to help buyers and
investors capitalize on these changes.
It's a proactive approach that aligns with themarket's evolving landscape.
Yes, Jason Woods is really stepping up to guidelocal buyers through this transition.
(07:22):
He’s launching September Strategy Workshops,which are virtual sessions focused on
leveraging Bill 17’s impact.
Plus, he’s providing pre-approvals and ratestrategies to ensure clients are ready to act
when new developments launch.
This kind of preparation is crucial, especiallywhen dealing with transit-linked developments,
(07:43):
where zoning changes could impact propertyvalues.
That's a great point, Janine.
Timing is everything in real estate, and Bill17 could open new windows and choices.
By preparing now, Burlington buyers andinvestors can potentially seize financial
advantages.
It’s all about being ready to move quickly whenopportunities arise, and Jason's approach seems
(08:06):
to be geared towards ensuring his clients arewell-positioned to do just that.
Exactly, Steve.
Being prepared means understanding how theselegislative changes impact your specific
circumstances.
Jason Woods emphasizes the importance ofreadiness, stating that fall market access
depends heavily on timing.
This proactive stance can make all thedifference for buyers looking to make the most
(08:30):
of the current market conditions.
In the end, it's about using these legislativechanges to optimize your mortgage and
purchasing strategy.
With Bill 17 in place, there are newopportunities on the horizon for those who are
ready to act.
It's an exciting time for Burlington buyers,and Jason Woods seems to be providing the tools
and insights needed to navigate this evolvingmarket.
(08:52):
Now, let's turn our attention to the Canadianbond market, specifically the 10-year
government bond yield, which has recently easedfrom its one-year highs.
This is an important development for bothinvestors and homeowners, as bond yields can
influence mortgage rates.
Janine, how does this shift in bond yieldsimpact the real estate landscape?
Well, Steve, when bond yields decrease, itoften leads to lower mortgage rates, which is
(09:17):
generally good news for homebuyers and thoselooking to refinance.
The recent dip to below 3.5% from a high of3.611% earlier in July reflects a broader rally
in global bond markets.
This rally has been driven by renewed concernsover US-China tariffs and uncertainty around
(09:38):
the Federal Reserve's policy, promptinginvestors to seek safer assets like government
bonds.
That's right, Janine.
The Canadian market has been reacting to bothinternational and domestic factors.
While high core inflation and strong jobcreation initially supported higher yields, the
softer headline CPI reading for June at 1.9%and stable labor market conditions have led to
(10:03):
expectations that the Bank of Canada willmaintain its current interest rate.
This stability can be reassuring for thoseconsidering long-term investments in real
estate.
Absolutely, Steve.
With the Bank of Canada likely holding interestrates steady, it provides a level of
predictability for buyers and investors.
The latest Business Outlook Survey alsoindicates that businesses are less worried
(10:27):
about severe US tariff actions and expectlittle change in inflation and employment.
This adds another layer of stability to themarket, which is crucial for long-term
planning.
And for those in the real estate sector,understanding these bond market dynamics is
essential.
Lower bond yields can mean more favorableconditions for borrowing, potentially leading
(10:47):
to increased activity in the housing market.
It's a reminder of how interconnected globalmarkets are and how they can influence local
economic conditions.
Exactly, Steve.
It highlights the importance of stayinginformed about both local and international
economic trends.
For homeowners and prospective buyers, thiscould be an opportune moment to assess their
(11:09):
mortgage options and consider refinancing if italigns with their financial goals.
It's all about seizing the right moment to makeinformed decisions.
Indeed, Janine.
As we continue to monitor these developments,it's clear that the easing of bond yields
presents both opportunities and challenges.
(11:30):
Staying proactive and informed is key tonavigating the changing landscape of mortgages
and real estate.
Thanks for tuning in to another episode of theOntario Mortgage & Real Estate Insights
Podcast.
We hope you found today's insights valuable asyou navigate the world of mortgages and real
estate.
Before you go, a quick reminder (11:49):
Real Approved is here to make your mortgage journey smoother.
Whether you're buying your first home orrefinancing, their experienced team is ready to
guide you with personalized support every stepof the way.
Visit realapproved.ca to get started and takethe next step toward achieving your
homeownership goals. Catch you next time, and stay informed with the latest insights!
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