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Labour Market Weakness Continued in May, Raising the Prospects of a Rate Cut at The Next BoC Meeting
Posted by: Jen Lowe
Each Office Independently Owned & Operated
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Posted by: Jen Lowe
Refinancing your mortgage can be a smart financial move for many reasons, and as your trusted mortgage advisor, I’ve seen how much it can benefit homeowners!
Ideally, refinancing is done at the end of your mortgage term to avoid penalties, but the timing can vary depending on your goals. For some, it’s about unlocking the equity in their home to fund renovations or cover big expenses like college tuition. For others, it’s an opportunity to consolidate debt, lower their interest rate, or change up their mortgage product.
Let’s take a closer look at some of the ways refinancing your mortgage can help!
PLUS! Some latest changes by the Government of Canada will make it even easier for you when it comes to your renewal and refinancing options:
No matter your plans or situation, please don’t hesitate to reach out!
Posted by: Jen Lowe
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Posted by: Jen Lowe
Canada’s 2025 federal election is over, and the Liberals have been re-elected under Mark Carney — but with a minority government. That means they’ll need support from other parties (like the NDP or Bloc) to get major policies passed.
So what does that mean for you — as a homebuyer, homeowner, or someone looking to get into the market?
As a mortgage broker with over 13 years of experience, here’s my no-fluff breakdown of how this all impacts housing, affordability, and your next move.
A minority government adds a layer of uncertainty — but also accountability. Policies can still move forward, but they need wider political support.
What this means for you:
Big promises (like housing, tax reform, and infrastructure) are on the table — but expect slower rollouts, more compromise, and the occasional political delay.
From a mortgage and economic perspective, this setup could keep interest rates stable in the near term, as the government is unlikely to introduce major surprise shifts without support.
So while the direction is set, the pace of change will depend on collaboration in Ottawa.
One of the boldest promises? Build 500,000 new homes per year.
(For context: we’ve never hit that number before.)
$25 billion “Build Canada Homes” program to purchase and place prefab housing on public land.
$6 billion to help cities cut development charges on multi-unit residential buildings.
$10 billion for affordable housing programs, including support for students, seniors, and underserved groups.
Bottom line:
If successful, this could help ease the housing crunch, increase supply, and stabilize prices. But prefab housing makes up just 1% of today’s supply — scaling that up won’t be fast or easy.
Delays in building approvals have long been a problem. This government wants to change that.
A new Major Federal Projects Office will limit permitting delays to 2 years max.
Overlapping assessments will be cut by recognizing provincial and Indigenous-led reviews.
$11.8 billion in trade infrastructure (roads, ports, bridges) to support growing communities.
Why it matters:
Faster approvals = more shovels in the ground = more homes coming to market sooner.
Some tax and spending updates that could affect your bottom line:
Lowest tax bracket drops from 15% to 14% — a little more take-home income.
No increase to capital gains taxes, a relief for real estate investors.
Federal spending growth slows from 9% to 2%, with a focus on efficiency and reduced consultant costs.
These steps suggest a more stable economic outlook — which is good for long-term planning, borrowing, and investment confidence.
With the Liberals in a minority, expect more negotiation, fewer surprises, and moderate pace in rolling out housing programs.
Here’s what you can take away:
✅ More homes are in the pipeline, especially in the new build and prefab space.
✅ Permitting timelines could improve, speeding up housing projects.
✅ Tax changes are small but positive, supporting affordability.
✅ Market conditions may remain stable, at least in the near term.
Whether you’re a first-time buyer, upsizing, or refinancing — now is the time to get clear on your goals and strategy. Even in a shifting political environment, there are real opportunities to position yourself ahead of the curve.
Want to know how this political landscape impacts your mortgage options or timing to buy?
Let’s connect.
Jen Lowe
Mortgage Broker | 13+ Years of Experience
📞 250-217-4925
📧 jen@jenlowe.ca
Posted by: Jen Lowe
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Posted by: Jen Lowe
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