Stop Ghosting Your Credit Score — It Notices

Financial Tips 22 Oct

White ghost beside a phone displaying a credit score gauge. Text reads: “Stop Ghosting Your Credit Score. It notices.”
 

Your credit score can influence your mortgage options and the borrowing costs available to you, making it important for both current and future homeowners. But how much do you really know about this three-digit number?

In Canada, a credit score is a 3-digit number that you build (up or down) based on your use of credit products, such as loans, credit cards and bills. It is constantly changing, so monitoring and improving it is a life-long process.

Interested in how your score is calculated?

Here’s the breakdown:

  • Payment history of credit cards, car loans, student debt, mortgages, department store credit, and other loans, including tracking any late or missed payments, makes up 35% of your score
  • Credit history is mostly about how long you’ve had credit for and a track record of how you’ve managed it, and it makes up 15% of your score
  • Used credit vs available credit, which looks at revolving credit only, and includes your lines of credit and credit cards. Here it’s about a balance of having the credit vs using it, and makes up 30% of your score.
  • Credit mix means a variety of types of credit being used, and makes up 10% of your score
  • Credit inquiries, which are done by lenders every time you apply for credit, and make up 10% of your score

What credit score should you aim for? 

When it comes to your credit score, a higher number is better. A bruised score (anything under 560) means you’ll need help getting approved for credit, including a mortgage, car loan, or credit card. Getting a mortgage isn’t out of reach with the help of a mortgage broker, as we have access to alt-A, near prime, alternative and private lenders with more flexible lending requirements, some that are exclusive to DLCG.

A good score is up to 724, a very good score is up to 759, and an excellent score covers 760-900. Higher scores mean you’ll have access to more credit and lower borrowing rates, so aiming for something over 660 is a good starting point.

When you apply for credit, a lender will perform a credit check. That check is referred to as a hard hit, and applying for a mortgage is a great example of this. It’s also another reason to use a mortgage broker when you shop for a mortgage—we only do one hard hit on your credit, compared to shopping around yourself and having each lender perform their own. A hard hit is visible on your credit report and impacts your credit score negatively. A soft hit, on the other hand, is something that doesn’t impact your credit score, like requesting your own credit report.

Myths about credit are common.

Here are a few things that won’t impact your score.

  • Getting married or divorced
  • Using debit instead of credit when making a purchase
  • Salary changes
  • Seeing a credit councillor
  • Requesting/monitoring your own credit report for accuracy and fraud

Speaking of monitoring your credit – this is a great way to prevent fraud. Requesting your free credit report from Equifax or TransUnion once a year and looking for inaccuracies or signs of fraud is a great start. You should also be sure to notify banks and creditors when you move.

Want to improve your credit score?

Here are the basic principles:

  • Pay your bills on time, every time. You don’t have to pay off the full balance of a revolving credit line, but you do need to ensure you make at least the minimum payment on credit cards, lines of credit, etc. A good figure to keep in mind is having the outstanding balance no more than 30-35%.
  • Use less credit. Paying off loans, paying down revolving credit sources, and keeping balances as low as possible will reduce your debt load. Don’t apply for new credit if it’s not necessary.
  • Keep old accounts. Spring cleaning isn’t going to help you here – you want to keep the accounts you have the most history on open. An old credit card or hydro account can provide a valuable credit track record.

If I messed up in the past, am I doomed forever?

No! Over time, and with better credit management, you can overcome financial missteps. The amount of time it takes will vary based on how serious the mistake was though.

If you filed for bankruptcy, you’re looking at that staying on your credit report for 7-10 years. One late payment or a few hard hits will typically take less time to recover from. Regardless, it’s going to take some time, so be patient, put in the effort, and be diligent about future money decisions.

Overall, your credit is important to pay attention to, as it can really impact your life – be it the car you drive or the home you live in. When it comes to your mortgage, I can help you get qualified no matter what your score is – that’s the beauty of using a mortgage broker.

Whether it’s a difficult qualification or negotiating the best rate for the best credit histories, I’m here to help.

Let’s Talk About Your Mortgage Goals

Buying, renewing or refinancing? Let’s explore mortgage options that fit your goals and financial situation.

Jag Dhamrait
Mortgage Agent Level 2
Phone: 647-883-7790
Email: jag@jagdhamrait.com


Apply Now

Small Extra Payments = Big Mortgage Wins

Mortgage Tips 18 Jun

Model house beside three stacks of coins. Text reads: “Small Extra Payments. Big Mortgage Wins.”

Extra mortgage payments can help reduce interest and shorten your amortization, subject to your mortgage terms.

 

Small extra mortgage payments can make a big difference over time by helping reduce interest and shorten your amortization.

Having some extra cash on hand might give you some breathing room on rising gas and food prices, building an emergency fund, or even the ability to make a big purchase you’ve delayed. But – should you pay down your mortgage instead? If you’re considering paying down your mortgage, you’re in luck, because today we’re going to look at how a lump sum payment can transform your mortgage future.

Base Case Scenario

Here we’re going to look at a mortgage with a $500,000 balance at a rate of 4.99% and a 25-year amortization. In this scenario, your monthly payment would be $2,905.18. If we fast forward 25 years to the end of that mortgage, having made no lump sum payments, you’ll have paid $371,554 in interest and a total of $871,554 in payments for your $500,000 mortgage. Although your rate will vary over the course of your mortgage, in this example we’re going to keep it consistent at 4.99%.

Payment Options

When we’re talking about paying down your mortgage early, there are three main ways you can do this. The first is to save a lump sum of cash, which you put down all at once, one time per a year (for example, on your mortgage anniversary). You don’t have to make this payment every year, but you likely have the option to put down a flexible amount of cash with upper and lower limits every year of your mortgage.

The second option is to round up your regular payments to a set amount. Again, there will be upper and lower limits on how much you can pre-pay, but you’ll likely be able to round up by a couple hundred dollars or to the nearest $100, for example.

The third option is to go with accelerated payments, which are normally offered weekly or bi-weekly. Here the lender will calculate the specific amount for you.

Each of these options will help you pay less in interest over the lifetime of your mortgage, with varying impact on the total amount of interest. Below is a chart showing how these three prepayment types can change your mortgage.

 

 

As you can see, even a small monthly increase in your payment can save you tens of thousands of dollars on your mortgage. The biggest impact you can make on your own financial future is to change your payment frequency – the more often you pay, the less interest you pay, and the sooner you pay off your mortgage in full! Even if you don’t have a new mortgage, you can start any of these strategies at any time.  Whenever you do start prepaying, you’ll start saving time and money over the rest of the term of your mortgage.

Be Aware: It’s important to consult your lender about what prepayment types and amounts allowed within your current mortgage. Many lenders set prepayment amounts as a percentage of your outstanding mortgage balance, although some lenders offer more unique options like doubling a payment.

If you want to run this scenario for your own mortgage, with whatever numbers you have, and different prepayment amounts, I’ve got great news. You can download my app and do it all – easily and for free – whenever you want. And if you have questions, you can DM or call me right in the app for help!

Let’s Talk About Your Mortgage Goals

Buying, renewing or refinancing? Let’s explore mortgage options that fit your goals and financial situation.

Jag Dhamrait
Mortgage Agent Level 2
Phone: 647-883-7790
Email: jag@jagdhamrait.com


Apply Now

Economic Insights from Dr. Sherry Cooper

Economic News 3 Jun

Outlook for the Canadian Housing Market, 2026–2027

Canada’s housing market is set to undergo a period of slow recovery and structural adjustment in 2026 and 2027.

 

After several years marked by aggressive rate increases, deteriorating affordability, and uneven regional performance, the market is more likely to stabilize than to stage a dramatic rebound. Forecasts from the Canada Mortgage and Housing Corporation (CMHC), the Canadian Real Estate Association (CREA), and the major financial institutions broadly converge on the same picture: modest price growth, subdued sales activity, and continued supply shortages in key regions over the next two years.

Monetary policy is the central driver of this outlook. The Bank of Canada has lowered the overnight rate from its 5% peak—reached during the inflation-fighting cycle of 2022–2024—to 2.25% today, and the policy rate is expected to remain near current levels through most of 2026.

Market-determined interest rates, however, have moved in the opposite direction. Since the outbreak of the U.S.–Israel–Iran war nearly three months ago, oil prices have surged and inflation expectations have re-priced sharply higher, triggering a broad-based sell-off in government bonds and a meaningful back-up in longer-term yields. The result is a widening gap between the policy rate and the borrowing costs that households and businesses actually face.

Mortgage rates nonetheless sit well below their late-2023 highs, improving affordability at the margin and drawing some sidelined buyers back into the market. A return to the ultra-low borrowing costs that fuelled the pandemic-era boom is not in the cards. The Bank of Canada has been explicit that inflation risks remain elevated—particularly from global energy markets and ongoing geopolitical uncertainty—so rates are likely to hold around current levels through most of 2026 before gradually normalizing in 2027.

Economic growth is expected to remain weak this year, which will cap housing demand. CMHC forecasts Canadian GDP growth of just 0.7% in 2026, making it one of the weakest non-recessionary years in decades. Elevated household debt, soft labour market conditions, and slower income growth are weighing on consumer confidence, which has fallen to a record low. At the same time, reduced immigration targets and slower population growth are easing some of the demand pressures that intensified the housing crisis earlier in the decade.

Home prices are expected to rise only modestly over the next two years. CREA forecasts the national average price to increase roughly 1.5% in 2026 and less than 1% in 2027, leaving prices effectively flat in real terms. CMHC similarly anticipates only limited gains following the price declines recorded in 2025.

Taken together, the market is transitioning out of the speculative conditions of the pandemic era toward a more balanced environment. Buyers have become more price-sensitive, while sellers face stiffer competition from elevated inventory in many urban markets.

Regional divergence will remain one of the defining features of the Canadian market. Ontario and British Columbia are expected to underperform the rest of the country, as affordability remains severely stretched in both provinces. Toronto and Vancouver condominium markets look particularly vulnerable: investor demand has weakened, while developers face rising construction costs and slower pre-sales. CMHC expects housing starts in these markets to remain below historical averages through 2027.

Alberta and parts of Quebec, by contrast, are likely to outperform. Calgary and Edmonton continue to benefit from better affordability, strong interprovincial migration, and comparatively resilient economic growth driven by the energy sector. Quebec’s market has remained more stable thanks to lower average prices and a broader mix of housing types. Even these stronger regions, however, are expected to cool somewhat as national population growth slows and rental supply expands.

Housing supply remains the market’s central long-term challenge. Canada continues to build far fewer homes than are needed to restore affordability. CMHC estimates that the country requires roughly 430,000 to 480,000 new homes annually through 2035 to return affordability to 2019 levels. Yet housing starts are forecast to fall from approximately 259,000 units in 2025 to about 247,000 in 2026 and 223,000 in 2027. Developers are delaying projects in response to financing costs, weaker demand, labour shortages, and elevated construction costs. Condominium development is especially weak, while purpose-built rental construction remains the strongest area of activity.

The rental market is gradually moving back toward balance. A large pipeline of apartment completions in major cities is easing pressure on vacancy rates and slowing rent growth. Rents will remain high by historical standards, but the rapid increases recorded between 2021 and 2024 are expected to moderate. That easing should reduce the urgency for many would-be first-time buyers, a large share of whom have remained renters because ownership costs are still prohibitive.

Overall, the Canadian housing market in 2026 and 2027 is best characterized by a cautious recovery rather than a rapid expansion. Lower policy rates and gradually improving affordability should support a modest pick-up in sales activity, but economic uncertainty, geopolitically driven volatility in market rates, and persistent supply constraints will keep growth in check. Prices are likely to remain relatively stable nationally, with significant divergence between weaker high-cost markets and stronger affordable regions. Over the longer term, Canada’s housing affordability problem will remain unresolved unless construction activity rises substantially above current levels.

Home Décor Trends to Elevate Your Space

Home Tips 24 Mar

Home décor trends with blue kitchen cabinets and modern finishes

A contemporary kitchen renovation remodeling featuring a center island, hardwood floor and quartz counter.

Minimalism is dead.

In 2026 we’ve moved on, adding colour, vibrancy, new features and personality galore into our homes.

Here are the biggest trends you can keep your eyes (and budget) set on this year:

Grandma Chic: If your birth year starts with 19, you’ll probably feel nostalgic about this trend. Things like florals, ruffles and pleated skirts are back on couches and chairs. Lamp shades, antique clocks, China cabinets and anything else you saw in your grandma’s house in the 80’s is back in style. Your entire house doesn’t need grandma’s approval, but it’s time to proudly and stylishly display any heirlooms she passed down.

Dark Design: Terracotta, dark green, chocolate brown, darker woods… the stylish home has plenty of these colours in 2026. If you want to try it, consider painting your existing cabinetry, adding a chair or couch in a moody shade, or even choosing an area rug that does double duty in style and function while it hides the fact you haven’t vacuumed this week (or month).

Feeling Blue: Blue may not be the Pantone colour of 2026 – but it’s everything in fashion, design, social media content, makeup, even dining. Any shade will do, from icy to electric. It’s super easy to add to your home with things like furniture, dishes, artwork, rugs, or even knickknacks (those are back too… keep reading).

Bidets: Thanks to the explosion in bidet popularity, it’s easy to find an attachment, toilet seat, sprayer or entirely new toilet to bring the bidet lifestyle into your home. Plus, they reduce toilet paper use, saving your home plumbing and the environment! They’re fairly easy to install yourself so if you’re keen on trying one, a trip to your local hardware store is probably all you need.

Walls Are the Art: Wallpaper is back, baby! There are infinite cool patterns and colours to choose from, including some really interesting and personal choices. And don’t forget the fifth wall to every room – the ceiling! Paint it or wallpaper it too, adding drama, interest, and even heights to the space.

Personal Storytelling: This unique approach is about telling your own story, piece by piece. Any room can feel welcoming because nothing is too precious or perfectly styled. It won’t happen overnight though. It’s a rebellion against fast fashion and staged decorating, as you collect everything over your lifetime rather than in one trip to Pottery Barn. Display your travel souvenirs, favourite knickknacks, unique furniture and thrifted gems and enjoy sharing a memory or telling an origin story of your favourite treasures to your guests.

What’s Out

If you’re looking to thoughtfully declutter as you modernize or redecorate your home, here are the top three things to part with.

  • Fake plants. And its cousin, the 2000’s oversized vase with dried wheat.

  • Mass produced wall art. That print of le chat noir or Campbell soup are heading for retirement (or the attic for when they come back in style).

  • Word art. We don’t live laugh or love this look anymore.

I’d love to hear what interior decorating styles and trends you have going on – and if you’re looking at any of these trends to update your existing style. If your home needs a bigger upgrade than just some new design elements, I can always help you sort through the financing options. Call text or email me anytime!

Economic Insights from Dr. Sherry Cooper

Economic News 10 Mar

Last month, the US Supreme Court issued a verdict on the tariff lawsuit. The ruling invalidates a large portion of the tariffs that Trump implemented in 2025.However, there are other ways that he can introduce import taxes. Here’s a chart showing some of the other means these tariffs could be put back on the table:

Chart showing Trump statutory authority to impose tariffs after the tariff lawsuit

Source: Congressional Research Service, Bloomberg

Realistically, most affected tariffs will likely be reinstated by other means – and a temporary blanket 10% tariff already has. Trump has already ordered a raft of trade investigations that should allow him to enact more permanent tariffs, too.

While this could be good news for Canada, in the immediate future, it only increases uncertainty, further dampening consumer and business confidence and increasing the likelihood that spending decisions, whether for housing or business fixed investment, will be postponed.

Fraud Awareness: Essential Info for Today’s Digital World

Personal Finance 1 Mar

Senior man on cell phone - Fraud awareness for phone scams and digital fraud

Fraud awareness starts with recognizing red flags in calls, emails, texts, and online messages.

March is fraud awareness month, a great reminder that no matter who you are, scams are lurking right around the corner (or in the next email, call or post!). 2026 will undoubtably throw more sneaky, compelling, and downright dastardly scams than ever. So, we’re going to look at how and why fraud scams work, spotlight the techniques scammers use, give you tips on how to recognize a scam, and teach you what you can do to protect yourself.

Why do scams work? 

Here are my 4 E’s of an effective scam:

  1. Ego: Some people think they are too smart to fall prey. Their overconfidence says they don’t need to be cautious and that exposes them to unnecessary risk.

  2. Evolution: Scams are diverse and sophisticated – it’s not a Nigerian Prince asking you to share his millions anymore! The constant changing and diversification of scams is fuelled by new technology, making it harder to spot a fake.

  3. Education: A lack of awareness means you’re a step behind a fraudster, and you’re unlikely to recognize the newest and greatest plots.

  4. Exposure: We’re online a LOT, constantly seeing fake ads, sharing our email addresses to get discount codes, commenting on social media posts – you name it. We constantly expose ourselves to predators.

Techniques Scammers Rely On

The first strategy scammers use is emotional manipulation. They’ll create uncomfortable feelings like fear or urgency to get you to act quickly. They’ll also go the sympathy and goodwill route to appeal to your good nature and empathetic side so you help them.

The second strategy scammers use is cognitive bias. It’s our predisposition to a certain mindset that would make you more willing to comply. A few examples:

  • Optimism Bias: You don’t automatically suspect a scam

  • Truth Bias: You assume people are telling the truth

  • Authority Bias: You trust and comply with authority figures (like police or government)

The third strategy scammers use is influence. They’ll compliment you or pretend to have similar likes so they build a relationship with you. They’ll act as experts or authorities so that you trust them. And, they’ll commit to it, starting slow and building over time and increasing their requests.

How Did Scammers Get So Good?

They practice. They aren’t afraid to fail. They don’t take no as an answer. And, perhaps most importantly, they embrace technology. It catches victims unaware and drastically improves their reach and persuasiveness. Here are their fanciest tools.

  1. AI: AI makes it easy for scammers to create professional-looking websites, social media content, online ads, fake photos, persuasive emails and texts, and so much more.

  2. The Dark Web: Scammers can buy nearly any data they want, plus fake identities, malware tools, stolen credit card numbers, ransomware, a fake escrow service or even hire hackers.

  3. Deepfakes: Fake videos that clone real people and real voices are easy to create with free or cheap specialized software. These fake videos can promote products, laud fake charities or causes needing donations, even endorse ponzi schemes and pump-and-dump investments.

  4. Spoofing software: Fraudsters can mimic legitimate phone numbers, emails, or websites and even trick you into thinking you’re dealing with a real person you know.

Red Flags 

Scammers aren’t just straight up asking for your SIN and banking info anymore. Here are some common themes to watch for:

  • Urgency, including limited time offers or requests to act now

  • Threats, like an account will be closed, you’ll be arrested, or a fine is forthcoming

  • Uncommon payment forms, like wanting gift cards, cryptocurrency, or Venmo transfers

  • Secrecy, warning you not to tell friends or family or alert law enforcement

  • Poor quality, like spelling errors, weird links, or other telltale signs AI has been hard at work

  • Reciprocity, as in you get hired but you pay for your own training, or you won a prize but you have to pay to receive it

How to Avoid Falling for Scams 

If you don’t want to be blindsided by a scam, the first step is to know that scams exist. Staying current on the latest schemes will go a long way. Be skeptical about almost everything online! Installing ScamShield, call blocking or anti-virus software can help prevent a scam artist from contacting you. Multi-factor authentication is a great way to stop scammers from accessing your online accounts.

If you get faced with a scam, take a step back and think about the legitimacy of the situation. Call a trusted friend or loved one and run the situation by them. Just hearing it out loud might make you come to your senses! Practice saying no. Disconnect from the situation and reach out to the company independently (like the CRA, bank, cell phone company or store) to confirm the request or offer is real. Finally, monitor your accounts for any unauthorized activity if you think you might have given away too much information.

Conclusion

If you’d like to learn more, the FCT fraud insights centre is a great place to start. Or, get your information in video form in Mastercard’s Anatomy of a Scam docuseries. Hopefully shining a spotlight on these tactics keeps your safety top of mind. Or as Bert and Gert would say, “Stay Alert, Stay Safe”!

Reverse Mortgages: A Modern Tool for Retirement Planning

Mortgage Tips 23 Feb

Loving senior couple smiling in front of their house. Reverse mortgage retirement planning for Canadian homeowners 55 and older

A reverse mortgage can help homeowners 55 and older access home equity while continuing to live in their home.

Visualize this: It’s 1986. You’re an accountant in Vancouver. You’re seeing seniors living longer, healthier and more self-sufficient lives than ever. But they don’t have enough cash to pay their day-to-day expenses.

You want to help them. So, you create a financial product that lets them access home equity without giving up ownership.

You call it… the Canadian Home Income Plan, and lovingly refer to it as a CHIP. Your product – a reverse mortgage – gives seniors a way to stay in their homes, access the equity without selling, and have complete flexibility and control over the funds. It has a slow start, but over the next decade it catches on across Canada.

Fast forward to 2026 and the reverse mortgage has evolved into a useful tool for so many Canadians. We’ve seen a 40% increase in usage of reverse mortgages in the past 3 years alone! There are several reasons for this, including skyrocketing property values, inflation driving up the cost of living, people living longer and healthier after retirement, and a whopping 71% of those over 75 still owning homes. So, older Canadians are opting to supplement their income with home equity to maintain or improve their standard of living in retirement.

What are the Basics of a Reverse Mortgage?

A reverse mortgage is available exclusively to homeowners aged 55 and older; all applicants must meet that minimum age. You can access anywhere between 15-55% of the value of your home, with your age and the location playing the biggest roles in the amount.

With a reverse mortgage, you can take out money in four different ways:

  1. Use it like a line of credit
  2. Take out a lump sum of cash at any time
  3. Arrange regular ongoing monthly payments
  4. Use a combination of options 2 and 3 above

Also of note is that you must live in the home, maintain the property, and ensure property taxes and insurance are both paid and current. You can get up to 3 reverse mortgages and even qualify for one on multi-unit properties (up to 6 units).

What are the Benefits?  

A reverse mortgage doesn’t depend on your credit score or your income for qualification. In fact, you don’t need to have any income at all! You also maintain complete ownership of your home and continue to live in it and build equity.

Another set of benefits are that the funds aren’t considered income, so they’re not taxed and don’t impact any pension or benefits you qualify for. You can even use this as part of your tax strategy (do consult a financial planner about this though).

What Can I Use a Reverse Mortgage for? 

These funds are extremely flexible, so you can use them for nearly anything. A few common ways Canadians use them are:

  • Home renovations or upgrades
  • Helping family (like a gifted down payment, a living inheritance, or a paying for a wedding)
  • Buying another property
  • Paying off higher interest debts
  • Funding your lifestyle, a vacation, or other expenses

What Will a Reverse Mortgage Cost?  

There are two types of costs you’ll encounter with a reverse mortgage.

First, like any mortgage, you’ll be charged interest. The rates are typically 1-2% higher than a regular mortgage, but you have the same flexibility with fixed or variable rates in various terms.

Second, you’ll have upfront costs to fund the reverse mortgage. You’ll need to get independent legal advice, an appraisal on your home, and you’ll most likely pay a lender or setup fee. Those three items will typically cost $1500 – $3000. You might be able to negotiate the rate or even find a promotion that waives the setup fee, so using a mortgage professional to shop around could save you money.

How do I Get Out of a Reverse Mortgage? 

Much like a regular mortgage, you can pay off the amount owing in full at the end of the term without penalty. You can also make regular payments to bring down the balance. Lenders may also impose early repayment fees depending on the terms and conditions.

Alternatively, if you sell the property, you repay the amount in full at the time of sale. In the case of death, your reverse mortgage must also be repaid in full, before your estate is disbursed.

Are Reverse Mortgages Regulated? 

Yes. The industry is regulated by the Office of the Superintendent of Financial Institutions (OSFI). They’re considered a non-recourse loan, meaning you’ll never have to repay more than the property is worth or sold for. You often see this feature advertised by lenders as a ‘no negative equity guarantee’, but know that’s a legal requirement here in Canada.

Are Reverse Mortgages a Scam?  

No. They’re a legitimate and useful way for people to access home equity without selling their home. They’ve been approved and endorsed by the Canadian Association of Retired Persons (CARP), and members can even qualify for a $250 fee rebate upon funding. Plus, the Ontario Teachers Pension Plan invests in one of the main reverse mortgage companies.

However, like any financial product, the reverse mortgage market sees its share of scams. Be sure to use a licensed and experienced mortgage professional to avoid them. Look out for anyone one asking you to sign over the title to your home (never do this), or contractors offering to do the paperwork and get funding for you to fund upgrades or renovations. Those are big red flags!

Are there Alternatives to a Reverse Mortgage?

You always have options! A Home Equity Line of Credit (or HELOC) lets you take out equity and offers up to 80% of the value of your home (although you need income to qualify). You could also sell your home and downsize, rent, or move into another type of residence. No matter what route you go, you’ll want to look at the total cost of each option to help you make the best decision.

What Are the Next Steps to Getting a Reverse Mortgage? 

I’d love to help you explore your options. There are several Canadian financial companies that offer reverse mortgages in 2026, each with different fees, requirements and features. I would be happy to compare them and help you pick the best choice for your unique situation. Let’s set up a call to discuss.

Let’s Talk About Your Mortgage Goals

Let’s explore mortgage options that fit your goals and financial situation.

Jag Dhamrait
Mortgage Agent Level 2
Phone: 647-883-7790
Email: jag@jagdhamrait.com


Apply Now

Economic Insights from Dr. Sherry Cooper – Feb 2026

Economic News 3 Feb

Economic Insights from Dr. Sherry Cooper on Canada trade diversification

Dr. Sherry Cooper shares economic insights on Canada’s trade diversification, global partnerships, and economic outlook.

Amid significant shifts in global trade dynamics, Canada is redefining its position on the world stage. While the United States continues to make headlines with its assertive trade policies, other nations—Canada included—are forging ahead, adapting and expanding their international relationships.

Last week, Prime Minister Mark Carney’s visit to Beijing marked the first Canadian prime ministerial trip to China since 2017, culminating in a landmark trade agreement. Canada lowered its tariff on Chinese electric vehicles, while China reciprocated by reducing tariffs on Canadian canola seed. Carney emphasized the importance of renewing and strengthening the Canada-China partnership, asserting that these efforts signal a move toward a new global order, with Canadian exporters increasingly seeking opportunities beyond the US market.

Impact on Economic Sectors

The prevailing uncertainty surrounding trade—driven by tariffs and shifting alliances—has contributed to a decline in housing market activity, particularly in Ontario and British Columbia. In contrast, Quebec’s housing market remains more robust, although tariffs on aluminum and lumber have dampened broader economic activity in the province and across Atlantic Canada.

Despite widespread concern about these developments, Canada’s outlook for broadening trading partnerships is stronger than many anticipate. The country possesses substantial competitive advantages that position it well to meet international demand over the next decade.

Canada’s Competitive Advantages

Canada’s strengths lie in its rich natural resources, including oil and gas, uranium, critical minerals, food and agriproducts, fresh water, and Arctic access. These endowments provide a solid foundation for trade diversification.

Historically, 75% of Canadian exports have gone to the US, with agreements like CUSMA offering tariff protections for many Canadian goods. However, recent developments and strategic initiatives are opening new opportunities, especially in the energy and agri-food sectors, where Canada’s geography, resource reserves, and trade agreements align with growing demand from Europe and Asia.

Cross-Cutting Advantages

Resource Endowments

Canada is a leading global supplier of scarce commodities, including crude oil, natural gas, potash, canola, and other agri-food products. Its status as the world’s largest producer of potash is crucial to the US fertilizer supply, and there is significant potential to expand exports to major importers like Brazil, India, and China.

Trade Architecture

Canada benefits from a robust network of trade agreements, including CETA with the EU and CPTPP with Asia-Pacific economies. These agreements lower barriers for exports to Europe and Asia, offering advantages over non-preferential competitors. The country’s trade strategy now aims for a 50% increase in overseas (non-US) exports, a goal already being met ahead of schedule in some sectors.

Reputation and Standards

Canada’s reputation as a politically stable, rules-based, and relatively low-carbon supplier is increasingly valued by global buyers prioritizing security of supply, especially in energy and food. This reputational premium is particularly important for European and Indo-Pacific customers seeking to mitigate risks posed by Russia and certain Middle Eastern suppliers.

Sectoral Opportunities

Oil and Gas: West Coast Egress to Asia

The Trans Mountain Expansion (TMX) and LNG Canada projects have significantly increased Canada’s pipeline and liquefaction capacity, providing direct access to Pacific markets. Since 2017, TMX has enabled a 130% rise in energy exports to overseas destinations, with LNG shipments reaching Japan, South Korea, China, and Malaysia. Chinese purchases of Canadian oil have reached all-time highs.

For North Asian markets, Canadian Pacific Coast LNG shipments are much faster than those from the US Gulf Coast, cutting approximately 20 days off voyages to South Korea. This geographic advantage, combined with Canada’s vast gas reserves and political stability, makes it a structurally competitive supplier to Asian gas markets.

Following the Ukraine conflict, Europe and Asia have strong incentives to diversify their energy sources away from Russia. Canada’s new export infrastructure directly supports this demand, with the global LNG market expected to remain tight through the mid-2020s, offering a window for new Canadian supply to secure long-term contracts.

Metals, Steel, Aluminum, and Autos: Input Strength vs. Finished Goods

Canada’s primary advantages are in upstream metals and minerals, such as iron ore and critical minerals, rather than in finished steel and automotive products. Metal and non-metallic mineral exports have grown rapidly—up about 74% since 2017—driven by gold and other metals.

For steel, aluminum, and auto parts, Canada’s ability to market low-carbon content and secure supply is a key differentiator, especially in jurisdictions tightening carbon and supply-chain regulations. While Canada’s participation in multiple free trade agreements provides tariff preferences in Europe and Asia, the integration and scale of the North American auto platform continue to present challenges for diversification in finished goods.

Agriculture: Canola, Potash, and Food Products

Canada plays a central role in global canola and potash markets and faces strong demand from large agricultural economies outside the US. The country supplies roughly 85–90% of US potash imports but is positioned to pivot toward growing markets such as Brazil, India, and China if US trade becomes less attractive.

China is a major buyer of Canadian raw canola seed and has greater processing capacity than other markets. Canada’s access to Asian and European trade channels further supports diversification. According to Farm Credit Canada, approximately $12 billion CAD in food and beverage exports could be redirected from the US to other markets or to domestic buyers, highlighting significant potential for reallocation.

Canada’s surplus potash supply helps keep domestic fertilizer costs low, allowing grain and oilseed exports to remain competitively priced in third markets. Combined with high standards for food safety and sustainability, Canada presents a compelling value proposition in premium and bulk agri-food markets.

Hydropower and Virtual Water

In the near term, “water exports” are primarily realized through hydroelectric power from resource-rich provinces, rather than bulk water shipments. These hydro resources support green power exports, particularly to the northeastern US, and may contribute to future cross-border electricity grids.

As climate risks grow, Canada’s abundance of water and arable land creates long-term advantages in producing water-intensive goods such as grains, oilseeds, forestry products, and certain metals—positioning the country to supply water-stressed regions globally.

Policy and Political Economy

Canada’s federal strategy now explicitly positions trade diversification as central to risk management and economic resilience. Dedicated tools and financing, including Export Development Canada and trade commissioner services, are helping exporters access non-US markets. Combined with private-sector investments in logistics and port capacity, these efforts continue to reduce the costs and barriers associated with reorienting exports.

Conclusion

Canada’s structural advantages enable a gradual reduction in marginal dependence on the US, particularly in energy, agri-food, and some metals and advanced manufacturing sectors. However, full substitution in autos and certain processed goods remains unrealistic and inefficient due to the deep integration of the North American market. Overall, Canada’s expanding network of trading partners and robust resource base position it well for a resilient economic future.

As these successes mount, Canadian consumer and business confidence will rise, re-igniting pent-up demand in housing. As we move through this transition year, optimism will mount, and reduced housing prices, combined with lower mortgage rates, will return housing activity to more normal levels in the hardest-hit provinces of Ontario and British Columbia.

Estate Planning: Are You Covered?

Personal Finance 27 Jan

 

“New Year, new you” may be a cliché but it is for a reason! The New Year always has us thinking about where we are now, and where we want to end up. When it comes to your personal goals, a review of your finances and estate should be at the top of your list.

Proper estate planning can ensure that you have a stress-free year knowing you are covered!

Is your will up-to-date?

The purpose of a will is to outline your assets and determine how they will be distributed, as well as who will be in charge of managing affairs. Some key components to include in this document are:

  • Up-to-date list of your significant assets; note the location if outside your province or outside Canada.
  • Who will inherit your assets? And which?
  • Outline of where you want assets to pass outside your estate to avoid probate fees (e.g., an insurance policy, an RRSP)? Do this via beneficiary designation.
    • If they are minors, do you have a trust or other provisions in place?
  • Is the list of beneficiaries in your will up to date? Have there been recent births, deaths or marriages in your family?
  • Have you included alternates in case your named beneficiaries predecease you?
  • Do you want to give to charities or other organizations?
  • If you have children, have you indicated a guardian and spoken to them?
    • Did you include an alternate in case the guardian you chose is unable to commit?
    • Have you reviewed your choice of guardian as your child grows older?
  • Your executor who will carry out your wishes after you die. You can name one executor or two or more co-executors. Be sure to name one or more alternates as well.

Have you assigned a power of attorney?

Another important (and often overlooked!) aspect of estate planning involves naming a power of attorney. This individual is someone you trust to make decisions for you should you become unable to do so due to injury or illness, whether temporary or otherwise.  Power of attorney documents are created for you by a wills and estates lawyer (or notary in Quebec) as part of your estate plan.

Do you have mortgage protection insurance?

Through Manulife Mortgage Protection Plan (MPP), you have the opportunity to add a portable insurance policy to your mortgage that helps protect your loved ones and your home should something unexpected happen to you.  Unlike bank insurance, MPP is a portable life and disability product that you can take with you, from lender to lender and property to property.  This gives you the utmost future flexibility and is unlike bank insurance products which tie you down exclusively to them.  To ensure you get the best rate at renewal, you must have invested in an insurance product like MPP that will give you the freedom to move!

Mortgage life insurance will protect your family’s future by paying out your mortgage should the mortgage holder pass away. Manulife will also make your mortgage payments while your claim is being adjudicated, so there is no added stress for a loved one at an already difficult time.  Mortgage disability insurance will take care of your mortgage payments plus property taxes if you become disabled.  Disabilities from sickness and accidents are relatively common and will affect 1 in 3 borrowers throughout their mortgage amortization.  Manulife provides budget-friendly payment options, the ability to top-up your coverage and so much more.

These are all important aspects to consider to ensure your estate and family will be provided for should something happen. While never a fun topic, it is an important one and the better prepared you are, the better off your loved ones will be.

I would be happy to discuss coverage with you to ensure peace of mind for your family and their future.

Ice to Meet You: Build a Skating Rink in Your Own Backyard

Home Tips 20 Jan

Backyard skating rink at home with snow and hockey net

A common winter scene of a backyard hockey rink in Canada

A skating rink in your own backyard? Yes, please!

A skating rink is a great way to keep kids busy, stay active yourself, entertain guests, or even use as a conversation-starting background to your social media content. Here’s how to make this easy, enjoyable feature at home this month.

  1. Get a tarp: You’ll need to line the area you want to skate on with a heavy-duty tarp. You can get all kinds of sizes, so pick one that suits the area you’re looking to cover. Amazon is an easy destination but a hardware store might be a better bet so you can see and feel the quality before buying. If you think you want to make this rink year after year, consider investing in a quality tarp from heavydutytarps.ca.
  2. Frame the area: Set up a border for your rink using wood you have – scraps, 2x4s, logs, whatever! You can also buy long boards at that same hardware store you’re shopping for your tarp at if you don’t have something suitable at home already. Keep the frame secure with brackets or angles. Alternatively, you can use snow for a frame – just be sure it’s firmly packed and fully covered by the tarp. The frame should be a bit smaller than the tarp’s area, as you’ll want the tarp to come at least 10cms up the sides.
  3. Flood your rink: Use your backyard hose to flood the area until it’s at least 5 centimeters deep. Now the hard part – wait for it to fully freeze.
  4. Decorate your creation: Use strings of outdoor lights to illuminate your rink so it can be used well into the evening. Other fun additions are folding chairs with blankets, an old scrap of carpet where you can put skates on and off, a portable fire pit, a cooler to keep your beverages in, or even an outdoor patio lamp style heater (just not too close to the rink!).

I hope you give this a try – and don’t let my invite get lost in the mail if you do!

12