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Welcome to the Better Mortgage Select monthly newsletter – February 2026 edition. Brought to you by Daniel Patton, Michael Zanzini, Lorenzo Podda, and our President, Dave Butler.
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While much of the media narrative around real estate continues to focus on negativity and uncertainty, there has been a meaningful — and largely underreported — development in the mortgage world over the past two weeks. Since February 9th, the Canadian five-year bond yield has quietly repriced lower by roughly 25 basis points (0.25%). In plain terms:
That’s the equivalent of a quarter-percent drop in the underlying pricing mechanism that determines fixed mortgage rates in Canada.
And unlike the bond yield spike we saw in December — when unemployment unexpectedly dropped from 6.9% to 6.5% and yields jumped aggressively — this time the move has worked in borrowers’ favour. The interesting part? Unemployment has now returned to that same 6.5% level… but the bond market didn’t spike again, in fact, it’s moving in the opposite direction. When you dig into the details, it appears the decline in unemployment was driven less by job creation and more by people stepping out of the workforce altogether. That nuance matters — and markets seem to be recognizing it. The result: bond yields have drifted back to where they were before December’s surprise. And mortgage pricing is following.
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What This Means, Right Now:
For owner occupied homes, we are now seeing the following interest rates: Conventional Mortgages (20% down payment or more & Refinances) - 3-year fixed rates pricing between 3.89% and 3.99%
- 5-year fixed rates pricing as low as 3.99% up to 4.14%
- Variable rates in the 3.65% to 3.90% range
CMHC Insured Mortgages (less than 20% down payment) - 3-year fixed rates as low as 3.79%
- 5-year fixed rates as low as 3.89%
- Variable rates bottoming out at 3.45%-3.75%
For borrowers renewing in 2026, this eases the transition significantly compared to what we were staring at even a few months ago. For buyers heading into the spring market, lower fixed rates improve qualification levels and purchasing power — even if modestly — which can meaningfully impact what’s affordable. For sellers, this is constructive. As fixed rates drift lower, buyer confidence tends to follow. This is not dramatic.
But it is directionally important.
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The Bigger Picture:
We are still operating in a data-sensitive environment. - GDP numbers will be released shortly after this newsletter lands.
- Inflation and employment prints in March will shape expectations for the Bank of Canada’s next move.
- The March Bank of Canada meeting is currently expected to be a hold — but the bond market is beginning to hint that a rate cut later this year is not off the table.
Bond markets don’t move 25 basis points for no reason. They are forward-looking by nature. Whether that ultimately translates into a Bank of Canada cut in the summer remains to be seen — but the signal is worth noting.
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What We're Doing with This Information:
When bond yields quietly go down, we don’t celebrate prematurely — we act methodically. - If you’re renewing this year, we are actively monitoring and securing rate holds where appropriate.
- If you’re buying this spring, now is the time to refresh your pre-approval while fixed pricing is cooperative.
- If refinancing has been on your radar, a 25-basis point reduction to an interest rate can materially change the math.
This is the kind of shift that doesn’t make headlines — but can absolutely improve outcomes.
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Ready to Re-Run the Numbers?
Reply to this email with the email subject Refresh and we can: - Recalculate your renewal options
- Update your pre-approval numbers
- Review refinance scenarios
- Discuss converting a variable rate to a fixed rate
- Or simply confirm you’re optimally positioned for 2026
Sometimes the smartest move isn’t reacting. It’s recalibrating. And right now, the market just gave us something worth recalibrating around.
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Buying your first home in today’s market can feel overwhelming. Rates have moved.
Rules have changed.
The media is loud.
And everyone seems to have an opinion. That’s exactly why we’re hosting our first live webinar of 2026: An Exclusive First-Time Buyers' Webinar: This Wednesday, March 4 at 6:30 PM EST This will be a practical, step-by-step walkthrough for first-time buyers — no jargon, no scare tactics, just real strategy. We’ll cover: • How affordability is calculated in 2026
• Fixed vs. variable — what makes sense right now
• How to prepare your credit and finances properly
• What lenders are really looking for
• How to enter the market confidently (not emotionally)
• And how to avoid the most common first-time buyer mistakes This isn’t theory. It’s how we’re getting first-time buyers approved and into homes right now. If you’re planning to buy in 2026 — or even thinking about it — this session will give you clarity and a roadmap. And if you’re already a homeowner, this is the perfect event to forward to:
- A son or daughter
- A friend or colleague
- A younger family member
- Anyone sitting on the sidelines unsure how to start
Sometimes one clear conversation changes everything.
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Let’s make sure the next generation of buyers enter the market informed, strategic, and prepared — not intimidated.
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Our very own Vice-President, Daniel Patton, was at the RockStar Real Estate office to present the 2026 Pre-Spring Market Update in front of a room full of eager clients. Hosted by real estate experts, Paul D’Abruzzo and Josh Arnett, Daniel shared insights on interest rates, market trends, and what buyers and sellers can expect heading into the spring market.
Thank you to Paul and Josh for hosting a great event and bringing everyone together for an informative session.
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It didn’t stop there for Daniel, as he and our Director of Operations, Lorenzo Podda, had a fantastic meeting with Michael and Robin of Michael St. Jean Realty, along with lawyer Gerry Gatto, to do some 2026 game planning and strategize on how we can help more buyers find and secure the right properties. Hosted by Robin, it was great food, a great time, and an even better conversation around collaboration and growth for the year ahead. Excited for what’s to come.
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Senior Mortgage Agent, Michael Zanzini continued his busy month by attending an exclusive event with Losani Homes and Rare Realty, alongside our valued partner and friend, Ashad Mohammad, at their ‘weekend showcase’ that highlighted upcoming new developments with exclusive access.
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Michael kept the momentum going by attending a partner event with Strategic Success Consulting’s own Kory McKinnon and Danielle Chiasson. The evening provided a great opportunity to connect with industry professionals and like-minded individuals focused on growth and expansion in real estate. Kory and Danielle have been valued partners, surrounded by an exceptional network, and we look forward to continued success together as 2026 progresses.
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Finally, Michael had the opportunity to reconnect with past client and friend, Paul Prochilo of Prochilo Bros and UrbinCo Developments. They discussed current projects and explored strategies for structuring opportunities moving forward. Paul continues to be a refreshing voice in the development space, always focused on the next project and identifying opportunities to scale and navigate the evolving market.
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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: info@bmselect.ca | |
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