The Mortgage Life
Pete & Mindy · Vernon, BC
Two mortgage brokers discuss Canadian mortgage topics in plain language: Bank of Canada decisions, variable vs fixed, first-time buyer programs, renewals and HELOCs.
Status: inactive · Dominion Lending Centres White House Mortgages
Episodes
- 14 min
e63 - How Today’s Bank of Canada Rate Decision Impacts Variable, Adjustable, and HELOC Mortgages
The Bank of Canada announced its latest rate decision today, and while headlines often focus on the “what,” we’re diving into the “why” — and, more importantly, the “what now.” In this episode of The Mortgage Life Podcast , we break down: The key factors the BoC weighs when making rate decisions Why the central bank continues to lean on inflation, economic resilience, and global pressures The three types of mortgages most directly impacted by rate changes: variable, adjustable, and HELOC 🎧 Listen now to get clarity on what today’s announcement means for your mortgage and how to stay proactive
- 26 min
e62 - First-Time Buyer Advantage: Programs, Perks, and the Power of Ownership
Thinking about buying your first home? This episode of The Mortgage Life Podcast is packed with insights you won’t want to miss. Your hosts dive into the provincial and federal programs available to first-time home buyers, unpack how home ownership acts as a powerful forced savings tool , and explain the technical details that can help you maximize your options. Heads up: this one’s note-taking material. We go deep into the numbers and strategies, so you’ll want to listen more than once. Whether you’re preparing to buy your first place, or advising someone who is, this episode will give you th
- 12 min
e61 - Still Holding: What the Bank of Canada’s Rate Pause Means for You
The Bank of Canada held the key rate steady on July 30, 2025 — and while there’s no dramatic change, there’s still plenty to unpack. In this episode, we break down the three reasons behind the rate hold: - Global tariff uncertainty - A surprisingly resilient Canadian economy - Inflation hovering near target We also talk about what this “wait and see” moment means for borrowers — and why now might still be a good time to make a move. We’ll walk you through three key questions to consider: - Are you happy with your current lender’s service? - Do you have high-interest debt you could consolidate?
- 23 min
e60 - Navigating Private Real Estate Transactions: A Yukon Perspective
In this episode, we sit down with an experienced and knowledgeable Yukon real estate lawyer, Graham Lang of Lamarche, Lang & Barrett LLB, who unpacks the ins and outs of private property transactions (no MLS). From legal must-knows to common pitfalls, get expert insights to help you navigate a private deal with confidence. A must-listen for buyers, sellers, and industry pros alike!
- 8 min
e59 - Why the Bank Held Steady: Breaking Down the Latest Rate Decision
In this timely episode of The Mortgage Life Podcast, we break down the Bank of Canada’s latest rate announcement. We explain possible reasons why, despite ongoing inflation concerns, the central bank chose to hold the key interest rate steady. Whether you're a homeowner, buyer, or just mortgage-curious, this episode will help you make sense of the bigger picture, and what it could mean for your next renewal or approval.
- 35 min
e58 - Demystifying Your Mortgage Renewal: 5 Options You Need to Know!
Renewal time doesn't have to be confusing — and it definitely shouldn't be rushed. In this episode of The Mortgage Life Podcast, your broker hosts break down five clear options you have when your mortgage comes up for renewal. From simple renewals with your current lender to full refinancing strategies, we get into the technical details, numbers, and considerations you need to feel empowered — not overwhelmed. This is a knowledge-packed episode, so don’t be shy about hitting replay! If your renewal date is coming up (or even if it's a year away!), now is the time to get informed. Listen now an
- 7 min
e57 - Rate Pause: Bank of Canada Hits 'Snooze' on April 16
NO CHANGE from The Bank of Canada! The key overnight rate has remained the same. What does this mean for our your mortgage? For our economy? What pressures are influencing today's decision to hold steady? Check out this episode to hear our take.
- 25 min
e56 - Navigating Rate Drops: What You Need to Know with Professor Davidoff
The Bank of Canada dropped rates by 1/4% on March 12, 2025. This is the 7th straight interest rate drop and it falls in amongst some very turbulent economic and political times. Our guest, Professor Thomas Davidoff, from UBC explores the interest rate decrease and its effects on you, the mortgage consumer. We also discuss the impacts of tariffs and how they play into the Bank of Canada's decision making process. And we finish by asking Professor Davidoff where he thinks the opportunities are in the mortgage market and in real estate. Have a listen!
- 19 min
e55 - Assess, Address, & Strategize: Making Sense of BC Assessments & Mortgage Statements
The start of a new year is a great time to take stock of everything that happened in the past year... with your mortgage! In this episode, we break down two important documents that you'll be receiving shortly - your BC Assessment and your mortgage statement. Find out why you'll want to review these documents and listen for important tips to ensure accuracy and potentially save some money. Have a listen!!!
- 12 min
e54 - Cut to the Chase: Bank of Canada’s Rate Decrease
The Bank of Canada has once again dropped their key policy rate, this time by .25%. This rate drop will most likely cause Canadian banks to drop their prime rate by .25%, which would bring prime to 5.2%. For those with Variable Rate mortgages, Adjustable Rate mortgages, and Home Equity Lines of Credit - you will see a change to your mortgage (either payment or amortization period). For those with Fixed Rate mortgages, there will be no change. Just a reminder that in general, fixed rates follow long term bond yields and are not directly impacted by the Bank of Canada rate changes like variable
- 11 min
SPECIAL FEATURE December 11, 2024 -Bank of Canada UPDATE
Christmas presents being given out by the Bank of Canada? Yup, that's right! The Bank of Canada announced today that they're cutting the overnight rate by 1/2% to 3.25% today. That means variable rate mortgage clients and those with lines of credit should see some relief in their rates shortly. Tune in to get our take on what happened and where we're going in 2025.
- 22 min
e53 - CoSigner VS Guarantor
Co-Signers and Guarantors – what exactly are they and when would you need them? In this episode we chat about potential options of including cosigners or guarantors when you can’t qualify for the mortgage on your own. We also review what is required, their legal obligations, and how easy (or difficult) it is to remove them at a later date. If you have a co-signer or guarantor on your mortgage, tune in to get all the details.
- 53 min
e52 - Fall Summer-y
From policy changes to interest rates to home values, this in an enlightening chat with Dustan Woodhouse, author of Be the Better Broker book series. After a challenging couple of years in the mortgage and real estate industry, and following the most recent drop in the Bank of Canada interest rate, we hope that you enjoy the extra perspective in this episode!
- 8 min
SPECIAL FEATURE October 23, 2024 -Bank of Canada UPDATE
Today, the Bank of Canada announced another rate cut - the fourth consecutive rate cut for the Bank this year. And, to top it off, today's rate cut is twice the size of previous cuts at 1/2 percent! Tune in to get Pete and Mindy's take on the rate cut, why it was a jumbo sized rate cut, and what might happen at the Bank of Canada's next announcement on December 11th. Have a listen!
- 41 min
e51 - Loan and behold! What documents do we NEED?
The beginning of a broker / client relationship is warm and encouraging as we discuss the client's goals and how we can achieve them...then we ask for supporting documentation... Quite often a client may feel like we're asking for too much information, and it can be quite a bit of home work for the client finding all the pieces! In all cases each lender is very specific on what they want to see in order to verify income, down payment, property details etc. We do our best to streamline the process for our clients, but document collection is a reality when it comes to getting approved for a mort
- 11 min
SPECIAL FEATURE September 17, 2024 - Policy Update
Effective December 15, 2024 there are some MAJOR changes to insured mortgages. One big change is that purchases of up to $1.5M can now be insured mortgages which means your down payment can be less than 20%. Another change is bringing back 30 year amortizations on insured mortgages. Buyers who are considered first-time home buyers or buyers of newly built homes can now get a mortgage with a 30 year amortization. Lastly, we discuss the latest inflation numbers with CPI coming in at 2.0% for August which means there could be some downward pressure on variable rates. Have a listen to see what we
- 33 min
e50 - What DOES a Mortgage Broker do??
What DOES a mortgage broker do? Good question! And turns out Pete and Mindy could speak about it for days! In a nutshell, mortgage brokers are independent, licensed, regulated and educated professionals who are absolutely determined to understand their clients financing needs! Have a listen to Pete and Mindy' chat!
- 9 min
SPECIAL FEATURE September 4, 2024 -Bank of Canada UPDATE
The Bank of Canada dropped the overnight lending rate by 1/4 % today. Check out this episode for our analysis of the rate drop and what's coming for possible future cuts.
- 5 min
SPECIAL FEATURE July 24, 2024 - Bank of Canada UPDATE
For the second time in a row, the Bank of Canada has dropped their rate!
- 22 min
e49 - Are YOU a first time home buyer?
Check out this episode where Pete and Mindy discuss some of the things you might want to think about as a first time home buyer.
- 27 min
e48 - What's Up, Bank of Canada?
We chat with Brendon Ogmundson, the chief economist for the BC Real Estate Association, to find out what he thinks about the current state of interest rates. Brendon explains the recent Bank of Canada rate drop and the potential for future rate decreases. Does the Bank of Canada have any effect on fixed rates? And how do these rates affect the real estate market? Is it a good time to buy? Tune in to find out!
- 13 min
e47 - Welcome to The Mortgage Life
Welcome to our podcast! We have created this library of episodes to help educate our clients on some of the most important and most asked about topics relating to the mortgage process. Stay tuned for more captivating topics in the future, and in the meantime, please enjoy the 62 episodes published to date.
- 26 min
e46 - Unique Aspects of the Yukon Market
You might be surprised at some of the unique topics uncovered in this episode! Have a listen as Pete, Sue, and Mindy chat with Terence Tait, broker/owner at REMAX Action Realty in Whitehorse, YT.
- 23 min
e45 - Working with an Accountant
Murray Smith from KPMG in Vernon joins Pete, Sue, and Mindy for a riveting chat about working with an accountant, and how an accountant can add to your trusted team of advisors. From financial reporting, to tax advice, to business strategy, an accountant can add an in depth financial perspective to your portfolio.
- 18 min
e44 - The 12 Days of Mortgage-mas
Reflections on some of our key episodes since the launch of The Mortgage Life in January 2021. - episode 1: Curious about BC Assessment? - episode 2: Don't burn your mortgage statement! - episode 6: What is Alternative Lending? - episodes 14-16, 19, 20: the GAM! Series - getting a mortgage - episode 17: First Time Home Buyers - episode 25: Thinking of purchasing in the USA? - episode 26: Under the Mattress - Saving for a Down Payment? - episode 41: Down Payment - upside down or right side up? - episode 37: Choosing Your Lender - episodes 29, 31, 32: the DAM! Series - design and mortgages -
- 5 min
SPECIAL FEATURE December 6, 2023 - Bank of Canada Update
Another hold! The Bank of Canada has given us a bit more time with the current rate. Have a listen to our chat about it, and we have a little announcement! **check out episode 40 - Insights of a CEO for the full conversation with Gary Mauris, as mentioned in this Special Feature.
- 15 min
e43 - Avoiding the Penalty Box
Do you have a great rate on your mortage, want to make a change, but don't want to incur a penalty? Have a listen to this episode on how to avoid the penalty box, and contact your broker to see if there are options for you.
- 17 min
e42 - What in the world is Capacity?
A person's capacity in a mortgage transation is the amount of mortgage they qualify for given their verified income. What does that mean for you? Have a listen to this episode where Pete, Mindy, and Sue tackle the extensive world of income qualification to break it down into understandable and bite sized pieces. Also! Check out our RAM! series, episodes 34-36, where we dive deeper into investment income through rental/investment properties.
- 6 min
SPECIAL FEATURE October 25, 2023 - Bank of Canada Update
The Bank of Canada leaves its rate unchanged! Are we at a precipice? Are we at a place where inflation might continue to decrease? Will we stay level, or decrease in the near future? We'll have to wait and see!
- 18 min
e41 - Down Payment: upside down or right-side up?
Your down payment represents your 'skin in the game' - it is an equity injection at the time of your purchase. It also represents the biggest barrier to getting into the real estate market. Listen in as Pete, Sue, and Mindy talk down payment.
- 27 min
e40 - Insights of a CEO
Pete, Sue, and Mindy have an in depth conversation with Gary Mauris, co-founder and President & CEO of Dominion Lending Centres; CEO of Mortgage Centre Canada; and Chairman of Mortgage Architects. They chat about everything from the Canadian economy to the concept of imposter syndrome, both in business and in life in general. Together, the DLC Group of Companies (DLCG) account for almost 40% of all broker originated mortgages in Canada. Mr. Mauris is a serial entrepreneur, having sold two prior companies to the public market. He has been recognized as a finalist for the Ernst & Young E
- 16 min
e39 - What the Chattel??
A chattel mortgage is a loan for a manufactured home or other movable piece of personal property, such as machinery or a vehicle. On this episode, Pete, Sue, and Mindy chat about what these loans look like in the mortgage industry.
- 8 min
SPECIAL FEATURE September 6, 2023 - Bank of Canada Update
The Bank of Canada held it's interest rate this morning. After 10 increases over the past couple of years, Canadians are faced with higher mortgage payments than ever before. So what does this mean for us now? What is the Bank of Canada looking for between now and the next annoucement on October 25, 2023? Have a listen to this morning's brief conversation, as we hash out some of these questions.
- 18 min
e38 - In Case of Emergency
We are interrupting our regular podcast flow for a bonus episode on preparing for a natural disaster. Whether you're in the Okanagan, on Vancouver Island, or somewhere else in the world, this episode is meant to get you thinking about how to prepare for fires, floods, earthquakes, and whatever else Mother Nature brings.
- 24 min
e37 - Choosing Your Lender
How does your mortgage broker choose your lender? Why do some lenders have a branch location, while others do not? What is a Monoline lender? On this episode, Pete, Mindy, and Sue find answers to these questions in their chat with Sarah Almond from First National Financial. Sarah has been working in the mortgage industry since the early 2000's and joined the First National team in 2015. She is located in Kelowna and brings deep industry knowledge and excellent problem solving skills to her Account Manager role for the Interior of British Columbia. Sarah believes that education and partners
- 23 min
e36 - RAM! Part 3 - Building an Empire
In the third and final episode of the RAM! series, The Mortgage Life hosts discuss the basic parameters, common misconceptions, and the risks involved with building an empire (i.e. your rental investment portfolio). What is your purpose? How many properties will you own? Do you have the time and a solid financial plan? Check out the conversation!
- 13 min
SPECIAL FEATURE July 12, 2023 - Bank of Canada Update
Mindy, Sue and Pete talk with Brendon Ogmundson, chief economist from the BC Real Estate Association, about the Bank of Canada’s 0.25% rate increase this morning. Brendon gives his insights about the latest rate increase, what the Bank of Canada is trying to do with all these increases, and when we might see rate increases stop… or even start to go back down. Check it out!
- 19 min
e35 - RAM! Part 2 - Short Term Rentals
Check it out! In this episode, we discuss short term rentals, and Mindy talks about her experience in ownership.
- 32 min
e34 - RAM! Part 1 - Long Term Rentals
It’s another series! RAM is for Rentals And Mortgages! Are you curious about real estate investment? This series kicks off with a knowledgeable property manager sharing his experience with managing rental properties. Aaron Piva is the Owner and Managing Broker of Real Property Management Executives in Kelowna, BC. Born and raised in Metro Vancouver, Aaron has a bachelor’s degree from Simon Fraser University and has devoted his career to project/operational management, and quality control. Living and working in a fast-paced environment has made Aaron excel in the areas of execution, time manage
- 10 min
SPECIAL FEATURE June 7, 2023 - Bank of Canada Update
Mindy, Sue and Pete discuss the Bank of Canada's rate announcement this morning and... here we go again! Another rate increase today of 0.25%. How does the Bank of Canada deal with inflation that is made up of increasing housing costs? And how do you handle those increasing costs? Tune in to find out!
- 19 min
e33 - What does it mean to lock in?
Pete, Sue, and Mindy talk about locking in interest rates on this episode, along with the process and procedure for making it happen. Your decision to lock in or stick with your variable rate depends entirely on your personal situation. And so, this has been a popular discussion over the past year while the Bank of Canada rates (and those variable rate mortgages) were rising. Listen in!
- 34 min
e32 - DAM! Part 3: The Build
Join Pete, Sue and Mindy as they discuss construction financing. They also interview builder-turned-realtor Mark Imhoff about the builder/developer perspective. In 1983 Mark was bitten by the entrepreneurial bug, purchasing the first of two restaurants he would own. In 1988 Mark sold the restaurants to pursue a new career in the building industry. Working for a project management company from Vancouver, building Seniors Homes in Victoria, Mark started at the bottom and quickly rose to the top. Within 18 Months he was running projects as large as 200 suites. After 3 years it was time to venture
- 27 min
e31 - DAM! Part 2: The Plan
Welcome to part 2 of the DAM! series - design and mortgages! In this episode, Pete, Sue and Mindy chat with home designer Matt Lunde. Matt is principal at the award winning design studio 925R Design Inc. He has 20+ years in the design world, 925R Design Inc being incorporated for 14 years. Matt has a structural steel detailing background, and then went into architecture with his fathers company Lunde Architect Ltd in 2006. In 2009 925R Design Inc was founded and mainly focuses on custom home design, but also designs some multi-family and small commercial Buildings. Give him a follow on Instagr
- 11 min
SPECIAL FEATURE April 12, 2023 - Bank of Canada Update
Pete and Mindy discuss today's Bank of Canada rate announcement with Professor Tom Davidoff from UBC Sauder School of Business. Thomas Davidoff holds a BA from Harvard, an MPA/URP from Princeton, and a PhD from MIT. He holds the Stanley Hamilton Professorship in Real Estate Finance and is the Director for the UBC Centre for Urban Economics and Real Estate. He is also an Associate Professor of the Strategy and Business Economics Division at the Sauder School of Business, University of British Columbia. Professor Davidoff talks about how the unchanged rate actually gets felt in the economy -
- 26 min
e30 - Hello Spring!
We’re bringing a bit of the Victoria Market to The Mortgage Life, in this conversation with Matthew Traynor from The Traynor Group. A driven entrepreneur for most of his life, in 2010 Matthew had the excitement of co-founding what would become a nationally recognized nutrition bar company. All of this while using his free time training as a paid volunteer Firefighter with the Qualicum Beach Fire Department. And then his transition into his career as a team Realtor in Victoria, British Columbia. We thought this would be a natural fit to discuss teamwork, building teams, and executing a high lev
- 27 min
e29 - DAM! Part 1: Home Renos & Life Design
NEW series alert! DAM! stands for design and mortgages! With products available in the mortgage world to help make home renovations possible, on this episode we chat with interior designer, Nicole Verbeke. She shares her journey into her industry, some thoughts around design trends, and how working with a professional can save you money in the long run. Nicole is the Founder and Principal Designer of award-winning full-service residential design studio, Copper + Oak Design ( https://copperandoak.design ). Based in the Okanagan, her work primarily focuses on high-end residential projects. She i
- 5 min
SPECIAL FEATURE March 8, 2023 - Bank of Canada Update
In today's Bank of Canada announcement we finally get a pause! The Bank of Canada has decided to leave the policy rate unchanged at 4.5% which means that variable rate mortgages, home equity lines of credit, and unsecured lines of credit will not see any increases. For the first time in a year people with variable rates can breathe a sigh of relief. The next rate announcement comes on April 12th. Stay tuned...
- 27 min
e28 - Getting with the (new) Programs
From the new recission period, to the foreign buyer ban, to discussing our stress test requirements when it comes to mortgage financing - we had another interview with Brendon Ogmundson about some of the new housing rules as of January 2023. Brendon Ogmundson is the Chief Economist for the BC Real Estate Association. He holds an MA in Economics from Simon Fraser University and is a CFA Charterholder. Brendon specializes in housing market analysis and macroeconomic forecasting and is a member of the BC Ministry of Finance’s Economic Forecast Council, a contributor to the Philadelphia Federal Re
- 23 min
e27 - A Peaceful Resolution
As mortgage brokers, we have helped many many clients through the financial side of their spousal separation. Every circumstance is different, but the end goal remains the same; a peaceful resolution where all parties can afford their path forward. In this episode, we interview Christina Vinters. She is a wealth of knowledge, and adds her depth of experience to this informative conversation. Christina Vinters, J.D., C.Med, is a family lawyer with a boutique online mediation practice, Modern Separations, dedicated to helping couples across British Columbia peacefully resolve the details of thei
- 30 min
e26 - Under the Mattress - Saving for a Down Payment?
In this informative episode, hosts Pete, Sue, and Mindy chat with Jess Patterson about saving, budgeting, smart financial decisions, and so much more. With interest rates rising, and a new year starting, make sure you're setting and working towards your financial goals. Born and raised in Victoria, British Columbia, Jess Patterson has established a successful and thriving practice during his 16 years with IG Wealth Management. Jess takes the business of comprehensive financial planning very seriously. He prides himself in conducting his practice in a seamless and professional manner, paying cl
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