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Welcome to the Better Mortgage Select monthly newsletter – April 2025 edition. Brought to you by Daniel Patton, Michael Zanzini, Lorenzo Podda, and our President, Dave Butler.
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With the election now behind us and campaign promises waiting to unfold, we’re experiencing a surprisingly calm mortgage and interest rate market. This follows the Bank of Canada’s recent rate-pause announcement, just two weeks ago. Canadian bond yields - closely tied to fixed mortgage rates - have edged up slightly since hitting 3-year lows on April 4th. As of yesterday’s close, the 5-year bond yield sat 35 basis points (0.35%) above those recent lows.
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Weekly chart (zoomed out):
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After a brief window where nearly every type of 5-year fixed mortgage rate dipped below 4%, we’ve now settled into the following rates and ranges:
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Note: Many lenders are still offer pricing exceptions - often requiring clients to switch their banking relationship or hold other assets (savings, stocks, RRSPs, TFSAs, etc.) to qualify for deeper discounts.
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1. Tariffs & Geopolitics In today’s trade-war era, tariffs remain the most unpredictable driver of interest rate volatility. A single social media post from the White House can trigger bond market swings and force reactive pivots from the Bank of Canada. 2. Inflation If headline and core inflation rise steadily, it limits the Bank of Canada’s ability to lower rates. However, inflation hovering near the 2% target could give the Bank room to cut rates if economic conditions warrant it. 3. Unemployment Should the unemployment rate exceed 7% and continue climbing, rate cuts may be used to stimulate economic growth and ease household debt burdens. Conversely, a declining unemployment rate signals economic strength, keeping rates steady. 4. GDP Trends Disappointing GDP results traditionally call for rate cuts - but today, rising GDP with stagnant (or declining) GDP per capita complicates the picture. The Bank of Canada is increasingly considering these nuanced trends, which creates challenges for traditional forecasting models.
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Even we were surprised by how much we could save clients who signed 3-year fixed-rate mortgages in 2023 or early 2024. Since our March 6th Rate Comparison email (read here), we’ve helped 95 clients break out of their high-interest 3-year terms and secure lower-rate 5-year fixed or variable options.
- Average savings per client: $8,645
- Total combined savings: $821,334.59
- This includes prepayment penalties to the existing lender - no gimmicks, no tricks.
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Check out the math for yourself:
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If you signed a 3-year fixed-rate mortgage in 2023 or early 2024, email us at info@bmselect.ca to see how much we may be able to save you.
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Let’s face it: These past few years haven’t been easy for real estate investors. Cash flow is tighter, and renewal time can be stressful. Add to that a shift away from “investor-friendly” lending by some big banks, and its clear investors need a new solution. We’ve found one.
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Introducing: BM Select’s Exclusive Portal to National Bank’s Wealth Division
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National Bank has always been open to working with investors, but they left the mortgage broker channel back in 2016. That changed recently thanks to one of our investor clients, an executive within National Bank’s Wealth division. Together we saw a void being created so he helped us establish access to their investor-focused mortgage suite and we then took the bull by the horns. After a successful 6-month pilot, we’re proud to announce:
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Interested?
Email us at info@bmselect.ca with the subject line “National Bank Wealth Portal” and we’ll get you started.
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2025 Mid-Year Review – Wednesday, June 11 at 6:30 PM EST Thank you to everyone who attended our last webinar! We appreciate the huge turnout and the kind feedback.
Congratulations to Matthew Fromm, winner of the $150 Amazon gift card!
Our next live webinar takes place on June 11, which will be one week after the Bank of Canada’s next interest rate announcement. Join us for expert insights into real estate and mortgage trends, and actionable strategies for the remainder of 2025
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The arrival of spring always signals one of our favourite events of the year — the Your Life, Your Terms event, hosted by our great friends and partners at RockStar Real Estate. This year, the RockStar team delivered an outstanding full-day experience packed with industry-leading speakers, valuable insights, and incredible networking opportunities with like-minded real estate professionals. It was also a fantastic chance for us to connect with our clients in person as they stopped by the Better Mortgage Select booth! Can't wait for the next one this fall!
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Lorenzo Podda visited the Cogeco filming studio this month for an interview with the YourTV Niagara team, covering everything from mortgages to the current economic climate and more. His interview will be featured as part of a nine-segment series airing this May — stay tuned for more details!
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Mark your calendars for Thursday, May 8th, from 6:30 to 9:30 PM, as our very own Daniel Patton takes the stage as a featured speaker at The Real Estate Mastermind event - an exciting and educational evening, hosted by our trusted friend and partner, Gary Hibbert of Smart Home Choice. Whether you're an experienced investor, a current homeowner, or just starting to grow your portfolio, this event is packed with valuable insights and actionable strategies to help you succeed in today’s market.
Reserve your spot now - CLICK HERE to get your tickets!
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Daniel Patton recently had the opportunity to catch up with two of our incredible realtor partners, Janelle Leblanc and Chloe Hardisty of REAL Broker Ontario Ltd., Brokerage. It was some much-needed time well spent reconnecting and collaborating with these outstanding professionals!
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Senior Agent and Partner, Michael Zanzini, kept his busy streak alive this month joining realtors Anthony and Lucy Bordin for an exclusive masterclass "The Real Estate Insider Playbook" which touched on rates and market trends. He shared expert insights and answered key questions to help first-time buyers, homeowners, and investors navigate today’s evolving market. | |
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After the session, Michael joined Our Neighbourhood Realty for a fantastic virtual golf event at Mulligans Indoor Golf Simulator. It was a great chance to connect with the team of realtors and brokerage owners Bob, Rhonda, and Louie — sharing laughs, food, and some much-needed downtime leading into the summer market. | |
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Michael wrapped up the month with a market update alongside our good friend, Gary Hibbert, of Smart Home Choice. Speaking to a full room of realtors, he shared timely insights on rate trends and lending strategies to help them better support their clients. | |
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Who could think of a better way to kick off spring than with a Raptors game? Our Better Mortgage Select partners teamed up with the RockStar Real Estate crew for an evening of dinner, basketball, and great conversation. It was the perfect setting to discuss our next collaborative initiatives with some of the sharpest minds in the industry. | |
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Just a friendly reminder to come visit us on our socials, where we put out a ton of videos with tips and information to help you navigate the wild world of mortgages! Check out the links below and give us a follow! | |
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As always, if you have any questions or want to do some mortgage planning, feel free to reach out to us at: | |
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