Written by Tim Ward, Mortgage Broker

Fall 2025’s real estate market theme is perhaps best summed up as “wait and see”. The spring market was flat. Experts have mixed reports about the national average home prices for the remainder of the year. Most (CREA, CMHC, etc.) predict a drop between 1.7-3.2%, but Royal LePage is an outlier still echoing their early year prediction of 3.5-5% price increase. 

There are some notable regional differences. In Alberta, Saskatchewan and Quebec, they could see sales at historically high levels and faster price growth. Big Ontario and BC market declines are overshadowing these numbers and lowering the national average. 

Biggest factors in the home-buying market this fall

1. Affordability: the high cost of living – especially buying a home – is more than many new buyers can afford. The average MLS price for a home currently nearly $680,000. Homebuyers need big down payments, longer term loans, and will pay much more interest over the lifetime of the mortgage – none of which are appealing. Many are saying no thanks. 
2. US trade disputes: 49% of prospective buyers have chosen to hold off on a purchase because of impending tariffs and their ripple effects. A resolution could lead to a quick market turnaround, but there’s no way to know what’s coming. 
3. Economic cooling: unemployment, slower population growth and a mild recession are all contributing to a slower fall housing market.  
4. Rental market: Condo completions are surging, flooding the market and finally cooling off demand. People have more rental options, with potentially lower rates, which negates the need to buy. Also of note is slower household formation, meaning fewer people are looking to move out of their parents’ homes and in with their new spouse or partner. 
5. New builds: Builders are seeing reduced demand and cutting back production accordingly. Current tariffs are increasing the material costs for new homes, another reason to delay starts. The CMHC is predicting only 226,600 home starts for 2025.

What about rates?

The Bank of Canada has paused interest rate drops since April, which has given potential mortgagees pause. There is still one more rate cut predicted this year which could turn the market around. 

Initially, the CMHC was estimating 5-year fixed rates between 5.3-5.7% this year, but with that now out the window and lower rates currently available, the remainder of 2025 is the ideal time to get a mortgage for anyone who doesn’t already have one or imminently needs to renew. With a potential Bank of Canada rate cut looming, variable rates are also still attractive. 

Is anyone opting to buy this fall? 

Yes! Resale homes are gaining market share, with somewhere between 464,600 and 524,600 homes expected to change hands in 2025. 

There are also two main buyer demographics:

1. Millennials: With remote work declining, they need to buy homes closer to their jobs. Urban market resale homes will likely be their prime targets. 
2. Renewals: Those needing to renew their mortgages will consider their actual needs vs their existing home. Downsizing to save costs or upsizing to accommodate changing family needs are big factors. This is the ideal time to make a move without (mortgage) penalties. 

What does all this mean?

We’ll all be waiting to see what happens. If you want to buy, there is more supply and the lowest rates we’ve seen in a while. If you want to sell, the resale market is your friend. Either way, I can help you work out the mortgage you’re going to need.

Written by Tim Ward, Mortgage Broker

This month I’ve put together a game of This or That for you. I’m challenging you to not only pick This or That, but also to think about why it’s the better course of action. After you’ve worked through the scenario, read on for the answer and explanation. And let me know how many you got right!

This or That: Underpricing or Overpricing Your Home?

Underpricing is a common strategy in hot markets, since a lower asking price can attract multiple buyers and cause a bidding war. You could end up selling for more than the market value, just because of the demand.

Overpricing deters buyers, your home sits on the market for longer, and it transfers the power to the buyer in negotiations.  So, the clear winner is underpricing your home.

This or That: Selling in the Spring or Selling in the Fall?

Selling in the spring means there are a lot more homes on the market at the same time, and typically an active time in the housing market. The US data shows homes sell for 1.6% more than the monthly average in the spring.

Selling in the fall means less competition for sellers, and motivated buyers who want to be in a new place before the snow flies. Your real estate agent will also be less busy and can provide you more attention and better service. So, there’s no wrong answer here!

This or That: Professional Staging, Cleaning and Photography or DIY?

Hiring a professional for every job takes time, coordination, and money – and gets great results. To determine if it’s the right move for you, consider how much more you’d be able to sell your home for. If the costs outweigh the benefits, it might be best to skip this step.

However, don’t forget that pictures of your home are where potential buyers get their first impression of your home. Without good photos and an accessible environment for viewings, a great buyer might not be interested. This one is a toss up – consulting a neutral third party like your agent or neighbour might help you decide elements are needed and what you can do yourself. One pro tip I can offer you is to use ChatGPT (or Copilot, etc.) to help you with staging and décor – just put in the dimensions and ask for the ideal layout with your existing furniture.

This or That: Getting an Inspection Before or After Listing?

If you get an inspection before you list, you’ll be able to get a full and unbiased review of your home. You can choose to fix any issues, or list as is with a clear picture of your home. You won’t be surprised or blindsided by a buyers’ inspection coming up with issues, you can list the property at the correct price, and you’ll be in the driver's seat during negotiations.

Letting the buyer have an inspection saves money but gives them the power to negotiate. The better course of action here is to inspect pre-listing.

This or That: Renovate to Increase Your Home’s Value or Leave As-is?

Homeowners often complete expensive renovations before selling their home – but frequently don’t make their money back when selling. The new owners may have different tastes, or other plans for the layout or the home (including demolition!). Not only do renovations take time, but they may also require permits, inspections, or approvals. Overall, renovations before you sell are not financially beneficial.

However, some repairs are critical to selling your home. Things like a leaking toilet or a hole in the drywall could easily deter a potential buyer and lower the value of your home. The best course of action here is to complete essential repairs so that the home is ready for immediate occupancy – but not spend money on extra renovations.

This or That: Using a Real Estate Agent or Listing For Sale By Owner (FSBO)?

If you go the FSBO route, you take on all the stress and legal responsibility of research, showing, legal documentation and more. The main reason people choose this route is to save on the commission costs of selling a home.

The benefits of using an agent are plentiful, like getting the pricing, staging and photography right. You can also rely on them for all the paperwork. If a plot twist comes up, they’re there to help. You can also benefit from having your home listed on their website and their social media accounts to get your property more visibility. The winner for the average person is to use an agent.

This or That: Requiring Notice in Advance or Showing Anytime?

Keeping your home clean, tidy, and free of people and pets so that it’s ready for a showing is a real challenge for sellers if they’re living in the home they’re trying to sell. But for buyers who are already in the neighbourhood, inflexibility to view your home might discourage them from coming back. That means missed opportunities to sell and maybe even a lost sale.

There isn’t a clear winner here, but being as flexible as possible with potential buyers creates the most opportunities for a sale.

This or That: Emotions and Instinct or Advice and Numbers?

This might sound like an easy one – but not so fast! The highest bidder might not be the person you want to sell your home to. Imagine you received a thoughtful letter with an offer explaining how the buyer pictures raising their children in your home – vs more money from a developer who plans to raze the property.

However, you need a cool head during important negotiations. A few issues are likely to be uncovered during the home inspection. No home is perfect, so don't let a request for minor repairs derail the deal. The winner here is a balance of emotions and numbers – and each reader will need to find an equilibrium they can live with.

Tim Ward Mortgage Broker   705-351-2284 [email protected] www.wardmortgage.ca     The Mortgage Centre - Hometown Financial #13028 Each Mortgage Centre is Independently Owned & Operated

Southern Georgian Bay comes alive in the summer, offering endless possibilities for outdoor fun, lakeside dining, and lively local events. This summer-specific guide spotlights the best warm-weather activities, restaurants, and resources in Collingwood, Blue Mountain, Thornbury, and Wasaga Beach.

Collingwood

Top Summer Activities 

• Georgian Trail: Spanning 34km from Collingwood to Meaford, the Georgian Trail is a level, well-maintained path beloved by cyclists and walkers. Enjoy a serene ride or stroll with beautiful water views along the way.
• Harbourview & Millennium Park: These scenic parks stretch along the waterfront and are the perfect settings for a classic summer picnic. Spread a blanket on the manicured lawns, catch breezes off the bay, or venture onto the long boardwalk for birdwatching. Photo-worthy sunsets are a summer highlight here.
• Paddleboarding/Kayaking: Directly from Collingwood Harbour, rent stand-up paddleboards or kayaks to experience Georgian Bay's crystal-clear water up close. Paddle past sailboats, explore the coastline, or watch the sunset from the bay! Rentals cater to all skill levels, and guided eco-tours are available.
• Summer Events: Collingwood’s warm months come alive with a packed calendar. Street festivals, outdoor art walks, live music on the waterfront, and large-scale events. Many are free and family-friendly, providing a festive atmosphere throughout downtown and the waterfront parks.

Best Restaurants in Collingwood

• Brunello at 27 on Fourth: Elegant Italian and Tuscan fine dining with handmade pastas; perfect for a date or celebratory evening.
• The Tremont Café: Atmospheric French-inspired café known for seasonal Canadian cuisine and artful cocktails.
• Duncan’s Café: Cozy and casual, renowned for all-day breakfast, homemade soups, and local favourite sandwiches.
• Lakeside Seafood & Grill: Modern lakefront steakhouse with a wraparound patio and a menu focused on fresh-caught seafood and Ontario meats.
• Black Bellows: Lively brewpub serving inventive small plates, beer, and local ciders, set in a beautifully renovated heritage space.

Blue Mountain

Top Summer Activities 

• Blue Mountain Resort: Blue Mountain is Ontario’s adventure capital in summer. Zip down the Ridge Runner Mountain Coaster, soar above the trees on the scenic gondola, which gives beautiful views of Georgian Bay. Challenge yourself on the Woodlot Low Ropes, climb outdoor rock walls, or try the summer tubing hill. Trails of varying difficulty wind up the escarpment, offering everything from casual hikes to intense mountain biking.
• Village Events: Blue Mountain Village bustles with energy. Expect weekly live music, open-air markets, and festivals throughout the summer. 
• Plunge Aquatic Centre: This indoor/outdoor waterpark is a hit with families. Outdoor pools, waterslides, and splash pads are surrounded by deck chairs and picnic areas. Ideal for cooling off after a hike or bike ride.

Best Restaurants in Blue Mountain

• Oliver & Bonacini Café Grill: Modern Canadian bistro cuisine with a large terrace. Excellent for breakfast, lunch, or upscale dinners.
• Tholos: Delicious Greek and Mediterranean spot, popular for festive meals and shareable small plates.
• The Pottery Alpine Restaurant: Alpine-inspired menu (think schnitzel, trout, hearty brunches) served in a cozy lodge space.
• Jozo’s Original Après: Lively gathering place for hearty pub classics. Great wings and burgers!

Thornbury

Top Summer Activities 

• The Fishway & Harbour: In downtown Thornbury, the Fishway is a unique spot to watch trout and salmon in the dam in spring and fall, but in summer, it’s the heart of the marina scene. Rent canoes, kayaks, or paddleboards next to the scenic pier, or relax with an ice cream while sailboats drift by. The area is also home to artisan shops and parks ideal for a lazy afternoon.
• Thornbury Village Cider & Brewery: In the heart of downtown, relax on the patio of this local cidery, sample small-batch ciders, craft beers, and take a guided tour to learn about classic Ontario apple lore and production methods. Tastings often feature summer-limited releases.

Best Restaurants in Thornbury

• Bruce Wine Bar: Laid-back with standout wood-fired pizza, rotating farm-to-table small plates, and a local vibe.
• The Mill Café: Upscale casual with an expansive patio along the river. Seafood, steak, and creative Canadian fare.
• Fabbrica: Chef-driven Italian by Mark McEwan, known for artisan pizza and burrata on a sunny terrace.
• Sterlings: Lakefront Mediterranean spot blending inventive starters, seafood, homemade desserts, and a market to go.
• The Corner Café & Grill: Community favourite for home-baked muffins, specialty sandwiches, and live music on weekends.

Wasaga Beach

Top Summer Activities

• Wasaga Beach Provincial Park: Stretching over 14km, Wasaga is the world’s longest freshwater beach. Its soft sand and warm, shallow waters make it Ontario’s quintessential summer hangout. Lifeguarded areas, volleyball courts, and playgrounds line the shore, making it perfect for families, sunseekers, and water lovers.
• Water Rentals: Jet ski, kayak, and paddleboard rental shops line Beach Area 1 offering everything for aquatic fun or leisurely paddles along the Nottawasaga River. Lessons and guided eco-tours are available for beginners.
• Nature Walks/Trails: Beyond the sand, the Wasaga Beach Provincial Park’s inland trails wind through gorgeous scenery.
• Family friendly activities: Wasaga features several classic mini golf courses, go-kart tracks, and arcades. Timeless favourites for summer fun.

Best Restaurants in Wasaga Beach

• Catch 22 Fresh Market Grill: The local favourite for surf-and-turf, inventive specials, and an inviting patio.
• The Iron Skillet: Heaping portions of ribs, schnitzel, and Canadian classics.
• Pizza Dee’s: Spot for traditional Italian pizza and pasta, with comfort-food and gluten-free options.
• The Hive: Beach-casual restaurant and bar with craft beers and burgers.
• Match Eatery & Public House: Modern sports pub serving juicy burgers, poutine, and creative finger foods.

Written by Tim Ward, Mortgage Broker

If you’re interested in buying a vacation home, there is a lot to consider. A good first step to purchasing any vacation home is to think about your 5- and 10-year plan. Will you get enough use out of it? Do you have other more immediate or important financial goals? What’s the opportunity cost?

If you’re set on the vacation home, but don’t plan on paying cash for the property, the next step will be to plan how to finance it. Here’s what to ask yourself:

Do you have enough saved for a down payment? A second property could need anywhere between 5-20%+ down payment. Some factors to consider are if it’s winterized, mortgage insurance requirements in relation to the purchase price, etc.  

Can you afford the purchase? Your income will have to be such that you can take on the additional debt, so consider calculating your debt servicing ratios and see how much room you have within your current situation. You can use the stress test feature in my mortgage app to get an estimate on what your income will allow you to qualify for - or just ask and I’m happy to run the numbers for you.

Will the location/property be eligible for financing? Remote locations or properties outside Canada may not qualify for a mortgage, so you might need to get creative.

Will it be owner-occupied or an investment property? Depending on who lives in or uses the dwelling, there will be different mortgage and tax implications.

If you’re in a good place to move forward with purchasing a vacation home, the next step is selecting a location. A few considerations:

• Current and future development of the area
• Municipal services available
• Transportation to and from your property
• Long term property value
• Seasonal access issues

Another big factor in purchasing a vacation home is deciding what will happen to it while you’re not there. Will you rent it out? Will you have a property manager? What’s needed to keep the insurance valid on the property?

If you’re not sure about any of what you’ve just read, a great first step is to get in touch! As your mortgage broker, I can help you calculate your debt servicing ratios, determine what you’re eligible for, and come up with creative financing solutions if needed. We can look at second mortgages, reverse mortgages, and other options to get you into the property of your dreams.

Tim Ward Mortgage Broker   705-351-2284 [email protected] www.wardmortgage.ca     The Mortgage Centre - Hometown Financial #13028 Each Mortgage Centre is Independently Owned & Operated

Written by Tim Ward, Mortgage Broker

Finding your dream home can seem like a daunting task. But don’t despair! Here are five actionable steps to set you up for success.

1. Start with the Practicalities: First, figure out your finances. How much have you got saved for a downpayment, how much can you afford on a monthly basis, and what will you be able to qualify for? Download my mortgage app and start running your numbers quickly and easily on your own time.
2. Set Yourself up for Success: If you want to find your dream home, you’ve got to figure out what that is. Make a list of needs and wants in your home, considering things like number of bedrooms, parking, your renovation skills and budget, etc. Also consider anything that would be a deal breaker. Share your requirements with your real estate agent before you start looking at properties. Keep in mind the more requirements you have, the longer your search might take, so be patient.
3. Visit the Area: The neighbourhood might be the most important factor in your home purchase, so be sure to go to the ones you’re considering living in. Check out what’s happening in the area like construction, gentrification, who’s there, amenities, etc. Try to meet some of your potential neighbours and get a feel of what they like and don’t like about what’s happening in the area. You may learn some info that won’t be available in a property listing which could sway your purchase decision, or even find out about properties that could be available to purchase but aren’t currently listed for sale.
4. Gather Information: Ask whatever questions you can about the house, like the history of repairs and upgrades, any outstanding leases or tenants, concerns with neighbours or the neighbourhood, traffic on the street, etc. Be sure to see the property in person at least twice and go at different times of the day so you get as complete a picture as you can of the home and its surroundings.
5. Sell Yourself: Consider that no one has to sell you their home. Writing a letter introducing yourself and explaining your intentions can set you apart from other offers and endear you to the seller. You might end up with more favourable purchase circumstances thanks to your effort. Also be sure to have your financing in order (I can get you a preapproval valid for 120 days) so you have fewer conditions on any offer you make.

When you’re ready to make a move, I’m here for you. Give me a call to help you with the practicalities of financing so you have a successful hunt for that dream home.

Tim Ward Mortgage Broker   705-351-2284 [email protected] www.wardmortgage.ca     The Mortgage Centre - Hometown Financial #13028 Each Mortgage Centre is Independently Owned & Operated

Written by Tim Ward, Mortgage Broker

Improving your financial health is essential for long-term stability and peace of mind.

STEP 1: This starts with creating a budget and sticking to it. Begin by tracking your income and all expenses for at least a month to understand where your money is going.

• Categorize your spending into essentials (housing, utilities, groceries) and non-essentials (entertainment, subscriptions). Use this information to set realistic spending limits and prioritize needs over wants.
• Apps and tools can also make budgeting easier and more effective.

STEP 2: Next is to build an emergency fund. Life is unpredictable, and having a financial cushion can prevent setbacks from turning into crises.

• Aim to save 3–6 months’ worth of living expenses, but don’t be discouraged if that feels daunting.
• Start small, even $10–$20 from each paycheck, and automate your savings to ensure consistency. Over time, these small contributions will grow into a safety net.

STEP 3: Debt can be a significant barrier to financial health, so it’s crucial to pay down debt strategically. High-interest debt, like credit cards and payday loans, should be your top priority, as it compounds quickly and can drain your resources.

• Use strategies such as the snowball method (paying off the smallest debts first for psychological wins) or the avalanche method (focusing on the highest-interest debts to save money overall). Whichever method you choose, ensure you make at least the minimum payments on all debts to avoid penalties.

STEP 4: Another vital component of financial health is to invest in your future. 

• Begin contributing to retirement accounts, such as an RRSP if your employer offers one, especially if there’s a company match—it’s essentially free money.
• If an RRSP is not an option, consider a high-interest savings account.
• Beyond retirement, explore low-risk investments, which can grow your wealth steadily over time. Even small, consistent contributions can lead to significant returns thanks to compound interest.

STEP 5: It’s essential to regularly review and adjust your financial plan. Financial needs and goals evolve, so take time annually—or after major life events like a new job, marriage, or a baby—to reassess.

• Review your budget, savings, investments, and debt repayment progress. Adjust your plan as needed to stay on track and adapt to changes.
• Regular check-ins help you stay proactive and maintain momentum toward your goals.

Financial health is a journey, not a destination. Consistency, patience, and smart planning will lead you to long-term stability and financial freedom. Remember, even small steps make a big difference over time!

Tim Ward Mortgage Broker   705-351-2284 [email protected] www.wardmortgage.ca     The Mortgage Centre - Hometown Financial #13028 Each Mortgage Centre is Independently Owned & Operated