ApprovedbyDustin

10/28/2026

My two cents on today’s rate hike.

I believe the Bank of Canada is trying to get ahead of inflation rather than risk falling behind and having to make more aggressive moves later.

Governments are introducing incentives to stimulate new-home construction, while any future changes to foreign-buyer restrictions could add further demand. If rates stay low and demand grows faster than supply, we risk reigniting the housing market and repeating some of the conditions we saw during COVID.

That said, raising rates in the middle of a tariff battle with our largest trading partner is a difficult balancing act. Higher rates could further slow an economy already facing uncertainty.

Does a rate hike make sense right now? There are arguments on both sides, but I believe the Bank is taking a proactive approach to managing inflation risks.

I wouldn’t rule out another 0.25% increase in December.

10/28/2026

How much home can a teacher afford in Ontario? 🍎

Growing up in Hamilton, I've always known our school boards are one of the biggest employers in the city. Teachers give so much back to our community, so we built the Teachers Mortgage Program to give a little back to you.

At today's rates, here's roughly what you could buy with 5% down:
🏡 $60,000 income → about $248,000
🏡 $100,000 income → about $425,000
🏡 $200,000 (two teachers) → about $885,000

Plus up to $750 back in rebates: up to $400 on your appraisal and up to $350 toward closing costs.

Supply, LTO, permanent, ECE or EA? Lenders count your income differently. The full guide, with 25- and 30-year charts, is below.

https://approvedbydustin.ca/2026/10/28/how-much-mortgage-can-a-teacher-get-ontario/

Know a teacher who's thinking about buying? Tag them below 👇

Estimates only, OAC. Based on a 4.34% insured 5-year fixed rate (Oct 28, 2026), 25-year amortization, no other debts. Rates subject to change.
Dustin Arruda, Mortgage Agent Level 2 | Lic. | DLC National Ltd. FSRA #12360

10/26/2026

Most people pick a mortgage by one number: the rate. 🏡

That’s how a “great deal” turns into the most expensive mistake of owning a home. So here are 5 reasons you shouldn’t work with a mortgage broker👇

1️⃣ You only care about the lowest rate on day one
2️⃣ You don’t mind a big penalty or less flexibility down the road
3️⃣ You don’t like having options
4️⃣ You only need help with your home
5️⃣ You don’t want someone in your corner.

If none of those sound like you, we should talk. I look at the total cost of your mortgage, not just the rate on signing day.

📖 Read the full post: https://approvedbydustin.ca/2026/10/26/5-reasons-you-shouldnt-work-with-a-mortgage-broker/

📞 289-244-6979 · approvedbydustin.ca

Dustin Arruda, Mortgage Agent Level 2 · Lic. · DLC National Ltd. · FSRA #12360

Mortgage broker serving Hamilton, Burlington & Southern Ontario. Access 100+ lenders for the best rates. First-time buyers, refinancing & more.

04/17/2026

What a difference a few hours can make.

Since 8:00 a.m. ET, oil has completely reversed course.

Iran confirmed the Strait of Hormuz is fully open to shipping, and that was all the market needed.

WTI crude has broken well below the key 50% retracement from March, signaling growing confidence in a near-term resolution.

Nothing’s ever guaranteed in these markets… but for now, this is positive news for rates heading into the weekend.

Canada’s 5-year yield is already down ~6 bps, and expectations have shifted fast — the market is now pricing in less than one BoC hike by December.

Just four weeks ago? We had economists looking at 2-3 hikes.

Momentum can change quickly. Stay positioned.

If you’ve got a renewal coming up this summer, or you’re thinking about buying, it’s worth looking at a 120-day rate hold to protect yourself from market volatility.

In today’s environment, it’s not about chasing the bottom — it’s about having a strategy.

Whether you’re planning 2, 3, or 4 years out, the goal is simple: build a plan around a comfortable budget so you can move forward with confidence, and sleep at night.

01/03/2025

With the new year upon us, you may have recently received your 2024 mortgage statement. This is a great opportunity to review your financials as we head into 2025.

Are you carrying any high-interest debt that could benefit from consolidation? Did you buy or renew your fixed-rate mortgage at 5.55% or higher in the past few years? If so, there may be opportunities to lower your rate, increase your monthly cash flow, and potentially save thousands in interest over the life of your loan.

If this resonates with you, or someone you know, feel free to reach out directly.

Direct Number: 289-244-6979
Email: [email protected]

01/03/2025

2025 Bank of Canada Rate Announcements Are Coming! 📅

The first one is set for January 29th!

With the current prime rate at 5.45%, many clients are considering variable-rate mortgages with hopes of future rate cuts

Here’s how it Works:

Your mortgage rate = Lender’s prime rate as of today (5.45%) minus your discount.

- If you’re putting less than 20% down today, most variable discounts are around 0.8% to 1.00%, giving you a rate between 4.54% to 4.65%.

If you’re putting 20% down, Most variable rate discounts range from 0.7% - 0.8%. Though you may be able to get a better rate with a downpayment over 35% with our “mono-line lenders”

Why consider a variable rate?

One of the big benefits is the penalty if you need to break your mortgage. A variable rate mortgage has a 3-month interest penalty, while a fixed-rate mortgage could have a much higher penalty (3-month interest or even a huge IRD penalty).

But be careful— prepayment privileges aren’t always taught to mortgage professionals, so be sure to ask about potential penalties and the best options for you!

Adjustable vs. Static Variable

Adjustable rate - Your payments drop ad your lenders prime rate goes down.

Static rate - payments stay the same, but the portion going toward principal and interest changes.

Right now, many clients are looking for payment relief so it’s important to understand your options.

Have questions? DM me! Let’s chat about what makes sense for you. 📲

01/02/2025

Thinking of building your dream home in Ontario?

We’re here to help you navigate the construction mortgage process. Whether you’re building your own home or an ADU, it’s essential to work with a mortgage expert who understands construction financing.

Many lenders require you to own the land outright, but our team works with lenders who can lend up to 80% of the land's value to help get your project started—covering permits, drawings, and more.

Not all construction loans are the same. Private mortgages often offer more flexibility in qualifying and draw schedules. It’s important to understand how your lender will release funds throughout the build.

Your loan amount typically ranges from 75-80% of the “as-complete” value. While private mortgages are often the easiest path, we also work with local credit unions that offer great construction and land mortgage options.

Know someone planning to build in Ontario in 2025?

Let’s connect!

08/26/2024

Congratulations to my young family on closing on your new home today! Thank you for trusting me to guide you through this exciting journey. In today’s uncertain market, it’s essential to work with professionals who prioritize your best interests—whether they’re mortgage brokers, realtors, or lawyers.

From a mortgage professional’s perspective, choosing the wrong product can be a costly mistake. In Ontario, our mortgage agents can complete their training in just 24 hours, but there’s much more to consider than just your buying power and rate.

Are you receiving a comprehensive scenario sheet that outlines all costs associated with homeownership, such as utilities, insurance, closing costs, property taxes, and condo fees? Have you discussed both your short-term and long-term real estate goals? Are you being presented with various mortgage terms and products, with clear explanations of how each option aligns with your goals and its pros and cons?

If you’re looking to enter the market in 2024 or plan for 2025, let’s connect and ensure you’re fully informed and prepared.

- Your Mortgage Advisor for life.

D.

08/20/2024

Congratulations on closing on your new forever family home today! This is the beginning of countless wonderful memories for you all. I’m truly grateful for the trust you placed in me as your mortgage professional. This experience has reinforced my passion for helping families like yours find their perfect home.

Thank you again for allowing me to be part of this special journey.

Your Mortgage Advisor for Life,

- D

08/15/2024

A cash back mortgage, when used effectively, can be a game-changer for your clients looking to enter the housing market. However, not all cash back mortgages are the same. Many of the Big 6 banks don’t offer a genuine cash back option on closing day that boosts purchasing power during the pre-approval process. Plus, if your client breaks their mortgage early, they may have to repay the entire cash back amount.

In contrast, our monoline lenders provide a cash back mortgage that is prorated, meaning if your client breaks their mortgage early, they don’t have to repay the full amount back. We offer up to 3% cash back on the total mortgage amount at closing, which can be used for closing costs or to pay off debts like student loans, car loans, or other unsecured debt. This can significantly enhance your client's purchasing power.

If you have first-time buyers struggling to get into the market with a Big 6 bank, I’d love to show you how our cash back mortgages can boost their buying power and reduce their debt. Let’s connect and help your clients achieve their dream of homeownership today!