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SHAWN SELANDERS
Your Local Mortgage Professional
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September 2025
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Rate Cut Alert
The Bank of Canada Just Cut Again. Here's What It Means for You.
Hi there,
Big news on September 17th — the Bank of Canada cut its policy rate by another quarter point, bringing it down to 2.50%. That's the seventh cut since this easing cycle started in June 2024, when rates were sitting at 5%. We've now come down 250 basis points in just over a year.
This month: what this cut means for your wallet, why fall is the most important season for renewals, and a quick thank you.
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Feature
BoC Drops to 2.50% — What This Means for Different Homeowners
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The Bank cited a weakening labour market (unemployment hit 7.1% in August), easing inflation at 1.9%, and the ongoing drag from U.S. tariffs and trade uncertainty. The economy contracted about 1.5% in Q2, and the BoC wants to provide some support heading into fall.
Here's what this means depending on your situation:
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If you have a variable-rate mortgage:
Your rate just dropped again. Since June 2024, your rate has fallen 2.5 full percentage points. On a $400,000 mortgage, that's roughly $600/month less than what you were paying at the peak. If you went variable, your patience is paying off in a big way.
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If you have a fixed-rate mortgage:
Your current rate doesn't change mid-term. But fixed rates are influenced by bond yields, and they've been trending down. If your renewal is coming up in the next 6–12 months, you're looking at renewing into a much better rate than what was available a year ago. Call me before you sign your bank's renewal offer.
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If you're buying:
Your purchasing power just increased. Lower rates mean you qualify for more, and your monthly payments are smaller. If you've been sitting on the sidelines waiting for rates to drop — they've dropped. The fall market has less competition than spring. This is a smart time to move.
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The BoC's next decision is October 29th. Many economists expect another cut. If you've been waiting to act — on a purchase, renewal, or refinance — the window is open.
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Renewals
Fall Is Renewal Season — Don't Let Your Bank Set the Price
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A massive wave of mortgages are coming up for renewal right now. Many of these were locked in at 5-year terms during 2020 and 2021, when rates were historically low. Homeowners are bracing for higher payments.
But here's the thing — rates have come down dramatically over the past year. If your bank sends you a renewal letter, that rate is almost certainly not the best they can do. And it's almost certainly not the best rate available in the market.
Here's what I do for every renewal client:
| → Shop your mortgage across 40+ lenders — including your current bank |
| → Negotiate the rate down — often by 0.25% to 0.50% or more |
| → Review the fine print — prepayment privileges, portability, penalty structure |
| → Tell you if switching lenders makes sense (sometimes it does, sometimes it doesn't) |
| → Handle all the paperwork |
My service is free — the lender pays my fee. If your renewal is in the next 6 months, call me before you sign anything. A 15-minute conversation could save you thousands.
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A Personal Note
Thank You
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Quick personal note this month.
Since announcing the move to High River last month, the response has been incredible. I've had so many people reach out — past clients checking in, new conversations started because someone passed my name along, and a few coffee invitations I fully intend to take up.
I want to say a genuine thank you to everyone who's referred a friend, family member, or colleague to me. My business runs on trust and word of mouth. When you tell someone "call Shawn" — that's the highest compliment I can receive. I don't take it lightly, and I make sure every person you send my way gets the same level of care you got.
Here's to a great fall. Talk soon.
— Shawn
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Quick Links
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RECA-Licensed Mortgage Broker | 25+ Years Experience | Serving Calgary, Okotoks, High River & Southern Alberta
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