Back to Blog
1 Nov

Major Rate Drop Alert! Here’s What It Means for Your Mortgage

Bank of Canada

Posted by: Philippe Alexandre

Hey there! It’s Philippe Alexandre, your local bilingual mortgage agent in Eastern Ontario.

I wanted to drop in with some important news that could have a serious impact on your mortgage—and potentially put some extra money back in your pocket.

Big News: The Bank of Canada has reduced its rate for the fourth time in a row! This recent 0.5% drop, announced on October 23, is a potential game-changer. To give you a sense of what this means, every $100,000 of mortgage could now cost you $30 less per month. Imagine what that could mean across the life of your mortgage—thousands in savings and more breathing room each month!

If you’re a homeowner facing renewal, thinking about refinancing, or simply someone planning to buy, this is the moment to explore your options. Whether it’s planning for changing rates or weighing the benefits of fixed vs. variable, these decisions are key to making the most of today’s mortgage environment. Don’t wait—rates might not stay this low forever.

I’m here to guide you, with the added advantage of having partnered with industry veteran Guy Morin, who brings over 20 years of experience to our clients. Together, we work with a broad range of banks to find the best possible options tailored just for you, saving you time and offering peace of mind.

Here’s what I promise when you work with me:

  1. Clarity and Control – I’ll break down each option, explaining how each decision impacts your future.
  2. A Personalized Plan – My goal is to help you feel confident, informed, and ready to take action on what’s best for you.
  3. A Trusted Team – Guy and I are here to provide not just answers but solutions.

Ready to see how much you could save? Let’s make this rate drop work for you. Schedule a call, or reach out directly using the information below.

Looking forward to helping you save more!

Philippe Alexandre
Cell: 613-318-6315
Email: palexandre@dominionlending.ca