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Welcome to the Better Mortgage Select monthly newsletter – April 2026 edition.

 

Brought to you by Daniel Patton, Michael Zanzini, Lorenzo Podda, and our President, Dave Butler.

If you’ve been following our updates this year, you’ve probably felt the shift.


We started 2026 with a sense of calm.
By late February, fixed rates were improving and momentum was building.
And then—almost overnight—the U.S.–Iran conflict changed the tone of the entire market.


Fast forward to today: the Bank of Canada just held rates yesterday, and we now enter a stretch with no meeting until mid-June.


So, the question we’re getting most right now is simple:


“What should I actually be doing with my mortgage?”


Let’s break that down clearly.

   

The Current Landscape (Simple Version)

  • Variable rates: Stable, mostly under 4%
  • Fixed rates: Elevated: up ~0.45 (or 45 bps) since early March due to global pressures (mainly oil/inflation risk)
  • Bank of Canada: Effectively paused — limited ability to move either direction

If you remove the geopolitical noise, fixed rates would likely already be back under 4%.


But we can’t ignore reality — and right now, reality is uncertainty.

Our Current Strategy (Macro View)


At a high level — we are leaning variable.


Why?


Because:

  • It’s currently lower than fixed rates (better affordability)
  • It’s more stable in the short term (Bank of Canada is effectively sidelined for now)
  • It gives you flexibility to lock in later when fixed rates improve

Think of it as giving yourself time + optionality.


If/when fixed rates drop back under 4% — that’s when we act.


Now one thing we cannot ignore from yesterday’s Interest rate press conference, is that the Bank of Canada is currently basing their models on an expected reduction in oil prices by next year.  However, if the US-Iran conflict goes longer and forces oil prices higher, the Bank may have to step in with a small rate hike to combat rising inflation.  On the other hand, they also publicly acknowledged that if the US-Canada Trade agreement is not renewed or if Canada ends up with worse terms in a new agreement, the Bank will likely have to jump in with rate cuts.

   

The Key Idea: Don't Pay a Premium for Temporary Noise


Right now, fixed rates are elevated largely due to a specific global event.


The question becomes:


Do you lock in today on a 5-year fixed at 4.39%–4.69% (*conventional rate*)?
Or position yourself to potentially lock in closer to 3.99% (or better) later?


That’s the strategic decision.


And for many clients, the answer lately has been: Wait, stay flexible, and be ready.

What This Means for You (Based on Situation)

Buying in 2026:

  • Still lock a 120-day fixed rate hold
  • It protects you if rates rise while you shop
  • You are not obligated to use it

When you buy, we reassess:

  • Fixed vs. variable
  • Market conditions
  • Your personal strategy

Mortgage Renewal Coming Up:

  • Same approach: secure a rate hold
  • Protect yourself from short-term increases
  • Re-evaluate closer to maturity

This is about control and timing.

Currently in a Variable Rate


Stay the course.


Nothing has changed in the original strategy:

  • You chose variable because fixed rates were high
  • You planned to lock when fixed rates improve

Right now:

  • You’re likely under 4% (*some as low as 3.44%*)
  • Fixed rates are at a temporary premium

Locking in today would mean doing the opposite of the plan.

Looking to Refinance or Restructure


If action is needed — take action.


But strategically:

  • We are still leaning variable-first, then reassess
  • Every situation is custom — this is where planning matters most

The Big Picture (What We Believe)

Even with current uncertainty:

  • Canada’s economy is not in a strong position
  • Growth is soft, pressures remain
  • Long-term outlook still leans toward eventual rate relief, not a sustained hiking cycle

The timing? Unknown.


The direction? Still fairly clear.

Final Thought


This is not a “panic” market.


It’s a strategy market.


The clients who win in this environment are the ones who:

  • Stay patient
  • Stay informed
  • And make decisions based on a plan — not headlines

Want to Map Out Your Plan?


If you’d like to sit down with one of our mortgage experts and build a clear strategy for your situation:


👉 Reply to this email with the subject, “Let’s Chat”


We’ll walk you through your options, answer your questions, and make sure you’re positioned properly for what’s ahead.


We’ll continue to guide you through this — step by step, decision by decision.

     

Earlier this month, we launched a program designed to help our real estate investor clients better optimize their portfolios.


In just one 30-minute session, we’ll review and update your portfolio, identify its strengths and weaknesses, and explore opportunities to improve overall performance.

   

Want to see how BUILD-UP works in real-life situations? Check out our digital booklet: Click Here

With new zoning laws now allowing up to four units per property, a major opportunity has opened up for real estate investors.


You can now add units to an existing home using construction financing that’s based on the after-repair value (ARV)—what the property will be worth after the improvements are complete.


There is nothing else like this in Canada.


 Our BM Select BUILD-UP Program is the first construction financing solution built by mortgage brokers, specifically for residential real estate investors looking to scale.

     
     

Watch Below to Learn How Build Up Works:

Stop letting certain properties hurt your portfolio.  A simple 30-minute meeting is all it takes.

 

Email us at info@bmselect.ca and let’s start getting you optimized today.

     

Rock Star Real Estate hosted their very popular semi-annual real estate investor conference “Your Life, Your Terms” early this month and what a turnout!  Over 1,000 likeminded Investors turned up to learn and network.  Our team was there showing off our new BM Select Investor Edge product suite as well as getting a chance to catch up with so many of our clients. 

   
     

And for those of you that attended the Rock star Real Estate VIP Members event the night before, our very own Director of Operations, Lorenzo Podda, held centre court, giving tons of updates on new products and doling out financing tips that will help Investors thrive in today’s tougher market.

   
   
     

Vice President, Daniel Patton, recently attended the Michael St. Jean Real Estate Brokerage Awards ceremony at the Ancaster Inn, and it was an incredible night all around. From great food and drinks to a high-energy atmosphere, the event was packed with fun, laughter, and well-deserved recognition. A fantastic evening celebrating success, with plenty of memorable moments along the way.

   
     

Sr. Mortgage Agent, Michael Zanzini, was invited to speak at the monthly Our Neighbourhood Realty / Royal LePage monthly team meeting where the discussion centered around updated rate trends, current financing options, and practical strategies to better educate clients and prepare them to confidently navigate the 2026 real estate market.

     

Michael and Daniel stayed busy throughout the month, with both putting in some time with our friends at Smart Home Choice, led by Gary Hibbert.  Daniel delivered a timely presentation, sharing insights on mortgage strategies and insights into how to navigate the current real estate landscape given the new geopolitical tensions we are seeing.  Michael then hosted a first-time buyer seminar along with Smart Home Choice all-stars Kathryn and Sandra.

     

Just a friendly reminder to come visit us on our socials, where we put out a ton of videos with tips and information to help you navigate the wild world of mortgages! Check out the links below and give us a follow!

   
   
   
     
   

As always, if you have any questions or want to do some mortgage planning, feel free to reach out to us at: info@bmselect.ca