Reverse Mortgage Specials: October 2025

The reverse mortgage market is surging yet remains undeserved by brokers that dabble in this product.

We have been doing Reverse Mortgages since 2005, and also did the largest Reverse Mortgage ever at the time (in 2014) for $720,000!!

With millions of Canadians approaching retirement and facing a savings shortfall, now’s the time to look into REVERSE MORTGAGE Options.

Mortgage Mark Herman, expert in Canadian Reverse Mortgages

The Numbers

3M
Canadian households retiring in the next 10 years

$1M
What most Canadians believe they need to retire

$272K
Average retirement savings for Canadians 65+

That’s a $728K gap—and reverse mortgages can help close it.

 

Right now 2 of the 3 big lenders have a special on.

  • Available in AB, BC, ON, QC
  • We’ll beat any posted rate for comparable reverse mortgages

 

HIGHLIGHTS of these lenders and their reverse mortgages:

  • Tax-free cash for:
    • Paying off an existing mortgage
    • Debt consolidation
    • Health care & renovations
  • Living inheritance & gifts
  • No monthly payments required
  • No impact on federal retirement benefits
  • 100% home ownership retained⁶
  • Preserve investments & legacy while aging in place

 Ready to start the conversation?
Reach out today to discover how reverse mortgages can grow your business—and help your clients thrive.

Reach me direct at 403- six81- 437six

I answer from 9-9 x 365.

Summary: RE/MAX Canada Fall 2025 Housing Market Outlook

“54% of Canadians believe this fall is a good time to strike a deal on a home.”

Here’s a summary of the RE/MAX Canada Fall 2025 Housing Market Outlook piece, released Sept 21st:

  • Pricing Trends: Residential price trends varied regionally, rising across Atlantic Canada and the Prairies, while declining in major urban centres in Ontario and British Columbia.
    • National average home prices are expected to decrease by about 6.5% this fall.
    • 68% of Canadians say a five- to 10-per-cent drop in property prices would make a meaningful difference in their ability to enter the market.
  • Sales Activity: Home sales declined year-over-year in 62% of markets analyzed between January 1 and July 31, 2025.
  • Buyer Optimism:
    • 38.2% of housing markets are sitting firmly in buyer’s territory this Fall.
    • 7% of Canadians say they intend to buy their first home within the next 12 months.
    • 28% of Canadians planning to buy their first home in the next 12 months say they have saved at least 20 per cent for their down payment.
    • 64% of Canadians say they’d feel ready if interest rates fell by 0.5 to one per cent.
  • Seller Market: 
    • 26.4% of housing markets are expected to favour sellers this Fall.
    • 8% of Canadians say they plan to sell their home in the next year, and among them, confidence is strong.
    • 63% of those planning to sell believe they’ll be able to secure their asking price.
  • Homeowner Sentiments: 
    • 92% of Canadian homeowners see their homes as a solid long-term investment.

Click here to read the full report!

Now is the perfect time to buy a home in Alberta as it is a solid BUYERS MARKET!

Mortgage Mark Herman, best first time home buying mortgage broker in Calgary Alberta

Or call me for a chat at your convenience.

Mortgage Mark Herman

Canadian Mortgage with American Income, 2025

Yes, that headline is true!!

August 15, 2025

 

We finally have an “A lender” in the Canadian mortgage broker space that will allow a buyer’s USA/ American income to be used.

Quick summary of the details.

  • 30% down
  • 80% of USA salary to be used, income based on USA tax docs
  • Almost any standard residential property in Canada
  • “A lender,” at A rates, no lender fee, no broker fee, underwritten the same as all Canadian mortgages
  • No funny business here. This is a normal mortgage, that you would want. The same as what expect from any of the Big-6 banks in Canada.

For more data or to ask about a deal, contact Mortgage Mark Herman, on his cell phone. He usually answers his own phone; from 9 am to 9 pm MST daily.

 

Data points below summarize key criteria and parameters for an “A-lender” in the Canadian mortgage broker channel that accepts US income.


Borrower Eligibility

  • Citizenship: any (US, Canadian, or other)
  • Canadian residency: no minimum length of stay required
  • Tax history: two consecutive years of US tax filings (no CRA filings needed – its true!)

Income Documentation

  • W-2 forms (equivalent to Canadian T4 slips)
  • IRS Form 1040 (equivalent to Canadian T1 returns)
  • US Tax Return Transcripts or Notices of Assessment (NOA – Notice of Assessment)
  • All documents must cover the most recent two-year period

Income & Loan Parameters

  • Income recognized: up to 80% of gross US salary
  • Income types accepted: salary only (sorry, the bank can’t use fee-for-service, or self-employed/ BFS income)
  • Maximum loan-to-value ratio (LTV): 70%, means 30% down payment
  • Credit underwriting conforms to Canadian mortgage regulations

Property Types

  • Primary residence
  • 2nd home / Secondary or vacation home and even…
  • Rental or investment property

Notes

  • No requirement for employer size, industry, or Canadian work history
  • Simplified process: bypass CRA income filings entirely
  • Ideal for US-based clients relocating, investing, or holding dual residences

 

We used to run into a few of these deals ever year, and now we see one every month so we found a lender that can do this business for our realtor partners.

The buyers only need 30% down, and the bank will use 80% of their USA salary as the income.

Mark Herman, top Calgary Alberta and Vancouver Island mortgage broker

 

Canadian Residential Market Update

The Canadian economy continues to keep policymakers at the Bank of Canada guessing.  The key contributor to the quandary continues to be U.S. tariffs, and that puzzle has just become even more complicated.
Fixed rates are slowly rising due to Trump’s inflationary policies and we see that continuing until tariffs are sorted out.
In the mean time, now is a great time to buy as inventory is high and rates are only .4% above where they were before Covid.
Mortgage Mark Herman, Top Calgary mortgage broker specializing in 1st time buyers.
As of August first, the U.S. increased its tariff rate on imported Canadian goods to 35%, up from 25%, except for products covered by the CUSMA trade deal.  What that means remains to be seen, but any economic slowdown, inflation or unemployment triggered by the increase will figure into the BoC’s decision-making on its policy rate.
In the meantime, the Bank is monitoring a Canadian economy that has been remarkably resilient in the face of the tariff upheaval, so far.
The Bank of Canada once again held its benchmark, overnight policy rate steady at 2.75%, where it has been since the March setting.  The latest decision follows an increase in the June inflation reading from 1.7% to 1.9%, while core inflation remains stuck at about 3.0%. There was also a surprisingly strong employment report in June, with the economy creating 83,000 new jobs.  As well, expectations for Canada’s gross domestic product remain optimistic.
The latest report from Statistics Canada – which came out after the rate setting – shows GDP dropped 0.1% in May, as it did in April.  But, StatsCan’s early forecast for June suggests an increase and, as a result, GDP growth of 0.1% for the second quarter of 2025.
Market watchers say new data, coming this month, will give the BoC a clearer and truer view of the Canadian economy.  For those who are waiting for further interest rate relief, many of the experts say it will be September, or even October, before the Bank makes another move.

Bank of Canada keeps interest rate policy unchanged for July 2025

The Bank of Canada announced today that it is keeping its benchmark interest rate at 2.75%.

This was widely expected and reflects the Bank’s expert interpretation of current macroeconomic data, including inflation.

Mark Herman, best Calgary mortgage broker for first time buyers.

The Bank’s observations are summarized with our outlook below.

Canadian Economic Performance and Employment

  • In Canada, US tariffs are disrupting trade but overall, the economy is showing some resilience so far
  • After robust growth in the first quarter of 2025 due to a pull-forward in exports to get ahead of tariffs, Canadian GDP likely declined by about 1.5% in the second quarter, a contraction mostly due to a sharp reversal in exports following the pull-forward, as well as lower US demand for Canadian goods due to tariffs
    Growth in business and household spending is being restrained by uncertainty
    Labour market conditions have weakened in sectors affected by trade, but employment has held up in other parts of the economy
    The unemployment rate has moved up gradually since the beginning of the year to 6.9% in June and wage growth has continued to ease
    A number of economic indicators suggest excess supply in the economy has increased since January

Canadian Inflation and Shelter Prices

  • Inflation measured by the Consumer Price Index (CPI) was 1.9% in June, up slightly from the previous month.
  • Excluding taxes, inflation rose to 2.5% in June, up from around 2% in the second half of last year, largely reflecting an increase in non-energy goods prices
    High shelter price inflation remains the main contributor to overall inflation, but it continues to ease
    Based on a range of indicators, underlying inflation is assessed to be around 2½%.

Global Economic Performance, Bond Yields and F/X

  • While US tariffs have created volatility in global trade, the global economy has been reasonably resilient
    In the United States, the pace of growth moderated in the first half of 2025, but the labour market has remained solid
    US CPI inflation “ticked up” in June with some evidence that tariffs are starting to be passed on to consumer prices
    The euro area economy grew modestly in the first half of the year
    In China, the decline in exports to the United States has been largely offset by an increase in exports to the rest of the world
    Global oil prices are close to their levels in April despite some volatility
    Global equity markets have risen, and corporate credit spreads have narrowed
    Longer-term government bond yields have moved up
    Canada’s exchange rate has appreciated against a broadly weaker US dollar

No GDP Projections in July Monetary Policy Report

While some elements of US trade policy have started to become “more concrete” in recent weeks, the Bank notes that trade negotiations are fluid, threats of new sectoral tariffs continue, and US trade actions remain unpredictable.

Against this backdrop, the Bank’s July Monetary Policy Report does not present conventional base case projections for GDP growth and inflation in Canada and globally. Instead, the Report presents a current tariff scenario based on tariffs in place or agreed as of July 27, and two alternative scenarios—one with an escalation and another with a de-escalation of tariffs.

Modest Growth Outlook

The Bank notes that the current tariff scenario has global growth slowing modestly to around 2.5% by the end of 2025 before returning to “around 3%” over 2026 and 2027.

The Bank further postulates that in the current tariff scenario, after contracting in the second quarter, GDP growth picks up to about 1% in the second half of this year as exports stabilize and household spending increases gradually. In this scenario, economic slack persists in 2026 and diminishes as growth picks up to close to 2% in 2027. In the de-escalation scenario, economic growth rebounds faster, while in the escalation scenario, the economy contracts through the rest of this year.

In the current tariff scenario, the Bank would expect total inflation to stay close to 2% over the scenario horizon as the upward and downward pressures on inflation roughly offset. However, it notes there are risks around this inflation scenario. As the alternative scenarios illustrate, lower tariffs would reduce the direct upward pressure on inflation and higher tariffs would increase it. In addition, many businesses are reporting costs related to sourcing new suppliers and developing new markets. These costs could add upward pressure to consumer prices.

With still high uncertainty, the Canadian economy showing some resilience, and ongoing pressures on underlying inflation, the Bank’s Governing Council decided to hold the policy interest rate unchanged.

It offered that it will continue to assess the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from higher costs related to tariffs and the reconfiguration of trade. If a weakening economy puts further downward pressure on inflation and the upward price pressures from the trade disruptions are contained, the Bank offered that “there may be a need for a reduction in the policy interest rate.”

Final comments

Governing Council added that it is proceeding carefully, with particular attention to the risks and uncertainties facing the Canadian economy. These include: the extent to which higher US tariffs reduce demand for Canadian exports; how much this spills over into business investment, employment and household spending; how much and how quickly cost increases from tariffs and trade disruptions are passed on to consumer prices; and how inflation expectations evolve.

I added: “We are focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. We will support economic growth while ensuring inflation remains well controlled.”

Next scheduled BoC rate announcement

The Bank is scheduled to make its next scheduled policy interest rate decision of 2025 on September 17th.

Probably the end of Mortgage Rate Reductions for Canada

Expert opinions on Bank of Canada interest rate cuts are shifting. A growing number of market watchers are backing away from their predictions of two more reductions this year. Several are now saying the Bank has likely reached the end of the current trimming cycle.

Back in April we said that Prime is probably going to stay where it is now; discounting the expected 4 more reduction to 0.

that looks to have come true.

5-year fixed is the way to go to side-step all the world’s recent happenings .

Mortgage Mark Herman, best Calgary mortgage broker near me.

 

The central bank held its trend-setting Policy Rate at 2.75% for a second time in its decision on June 4. Since then, inflation numbers and Gross Domestic Product readings have given the BoC reasonable grounds to stand pat.

Statistics Canada’s latest figures for GDP show it declined by 0.1% in April compared to March. Much of that decline was led by the manufacturing sector, which is falling victim to U.S. tariffs and trade uncertainty. A similar reduction is forecast for May. While many economists admit the slowdown shows the economy is softening, they say it is not on the verge of collapse. GDP is 1.3% higher that it was a year earlier.

The other key factor in the Bank’s rate decisions, inflation, held steady at 1.7% in May. That headline number is actually below the Bank’s target of 2.0% and would normally suggest there is room for a further rate cut. However, that is a little deceiving.

Headline inflation (aka the Consumer Price Index) continued to be skewed by the elimination of the consumer carbon tax. As well, core inflation, which is the BoC’s preferred measure, remains stuck at 3.0%, which is the high end of the Bank’s desired inflation range.

The Bank finds itself trying to balance economic growth against the risk of rising inflation. The Bank’s next interest rate announcement is set for July 30.

Mortgage renewal: Now switch lenders without re-taking the stress test

​​​Great news as a few leading banks, soon to be followed by the rest of the pack, have DITCHED THE STRESS TEST for RENEWALS.

This means if you have extra debts or a debt level higher than when you got your mortgage, some banks can now overlook that and still get you the best rates.

there is now an option if you were concerned about renewing due to higher debt loads or if your financial situatoin has changed since you bought your home.

Technically, this means most conventional switch (more than 20% down payment) customers no longer need to prove they can afford a payment based on the minimum qualifying rate (MQR). That rate is at least 2% higher (or 200 bps where 100 bps = 1.oo%) than actual rates.

This news is just out today for BOTH High ratio/ insured (meaning you bought with less than 20% down payment) AND Conventional (meaning 20% or more down payment)

Note, however, that property values for insurable borrowers must be under $1 million unless grandfathered.

To find out more please call (best) 403-681-4376 or email to reach out for more data.

This is a BIG DEAL. For renewals we always had to do the math to ensure you could change banks and many with higher debts than they bought with were not able to change banks. The banks knew this and offered them renewal rates that were way to high, but the home owners had no option. Now you do!

20 year mortgage expert, Mortgage Mark Herman

YES!

New Housing Rules for 1st First-Time Buyers and New Builds

If you’re a first-time home buyer or looking to purchase a new build, this affects you.

Here’s a quick summary of the changes coming in December 2024:

What’s New?

30-Year Amortizations Now Available for First-Time Buyers and New Build Purchases

  • First-time home buyers can now access 30-year amortizations for insured mortgages.
    • This increases the amount you qualify for by about 9% or lowers your monthly payment about the same.
  • 30-Year Amortization for New Builds – Technically, this took effect on August 1, 2024, and is available to everyone, not just First-Time Homebuyers.

 

Price Cap Increase for Insured Mortgages

  • The price cap (purchase price) for insured mortgages has been raised from $999,999 to $1,499,999 million.
  • EG: if you were to purchase a home today priced at $1.1 million, your minimum down payment to qualify for a mortgage would be 20% or $220,000.  After December 15th, the minimum down payment required decreases to $85,000.
  • If that $1.1 million dollar home also has a self contained suite, you can use the rent or “potential” rent that suite will generate to help qualify for a bit more of a mortgage too.

 

The Fine Print

Down payment – Great news, minimum requirements stay the same:

  • 5% on the portion up to $500,000
  • 10% on the portion between $500,000 and $1.5 million

* Previously, the down payment on a $1.5 million home for a First-Time Home buyer was $300,000.

FTHB’s can now get into that same home with $125,000.

This will undoubtedly take some pressure off the Bank of Mom and Dad.

 

Effective Date

These changes will apply to mortgage insurance applications submitted on or after December 15, 2024. The key word here is ‘submitted.’ Your offer will need to be timed just right if you wish to take advantage of the new 30-year amortization.

 

Potential Impacts on the Housing Market:

We are in an interesting position right now. On one hand, lenders are competing for new business in what could be described as a ‘rate war.’

Additionally, with First-Time Home Buyers (FTHB) set to qualify for 30-year amortizations after December 15th, we can expect an uptick in demand.

Historically, higher demand leads to higher prices and rate decreases cause an equal and opposite increase in home prices.

 

Buy or Sell – Now or Later?

While there’s no crystal ball, consider these possibilities:

  • Buy Now: Prices are expected to rise once the new rules take effect, so purchasing before December could mean less competition and potentially lower prices.
  • Sell Later: If your home is priced between $1 million and $1.5 million, waiting until after December 15th could attract more qualified buyers and possibly higher offers.

 

More details will emerge as lenders and insurers prepare to offer the new 30-year amortization, such as how lenders will view the minimum down payment.

If you want to discuss how these changes might impact your plans to buy or sell, feel free to reach out!

Variable Rate Beats BOTH 3-year & 5-year Fixed Terms

The Variable is the best way to go right now and this blue link has all the details in PDF: VARIABLE RATE beats both 3-year fixed & 5-year fixed terms

Data point 1: Variable rates should be coming down 2% in the next 13.5 months, with a “jumbo reduction” of 0.5% (1/2%) expected on Wednesday, Oct 23rd – by 5 of the 6 Big Banks.

Data point 2: Historically, fixed rates only go down about 40% of the reductions to Prime, so fixed rates will not be going down anywhere near as much or as fast as the Variable.

Data point 3: Just a 1% rate reduction is expected to “reactivate” at least half of buyers who previously stopped shopping due to “buyer fatigue.”

Data point 4: As interest rates come down, prices INCREASE because most buyer’s need to go to their max mortgage when buying.

Graphic details of expected rate reductions and the dates of expected changes, in PDF: VARIABLE RATE beats both 3-year fixed & 5-year fixed terms

Our favorite customer quote so far in October:

I am not locking in 3-year money nor 5-year money today, when the Bank of Canada has made it clear rates are coming down 2% in the next 15 months.

Mortgage Mark Herman, Top Calgary Alberta Mortgage Broker near me.

 

 

GIFTed down Payment now possible for New-to-Canada home buyers!!

For New to Canada buyers – Expanded “GIFT-ing” is now possible for close family members!

That’s right! As of now, May 23, 2024, buyers who are New to Canada – in Canada for less than 2 years – ARE now allowed to use /receive GIFTS for down payment from “close family members.”

This is a big deal because it now includes; aunts, uncles, nephews, and cousins; all were not allowed to provide a “GIFT for down payment” before.

The standard used to be only: mother, father, brother, sister, grandparent and legal guardian; and that was it.

 

From our data that we have on on our own customers, this will help about 20% of our New to Canada files to buy a home, where they would have been shut out before.

Mortgage Mark Herman, top best fantastic Calgary Alberta mortgage broker, specializing in First Time Buyers.

 

We view that the Expanded Gift-er Options ARE needed due to the average new home price being 500k+, it is super tough for newcomers to save enough to buy a home. GIFTS are relied on all the time by 1st time home buyers.