My Rates

6 Months 3.14%
1 Year 3.04%
2 Years 3.19%
3 Years 3.49%
4 Years 3.64%
5 Years 3.59%
7 Years 4.04%
10 Years 4.24%
6 Months Open 6.70%
1 Year Open 4.20%
*Rates subject to change and OAC
Ontario Mortgage Cafe
Andrew Metcalfe Mortgage Agent  Lic: M18000020

Andrew Metcalfe

Mortgage Agent Lic: M18000020

4030 Sheppard Ave E, Scarborough, Ontario









BLOG / NEWS Updates

Time for a mortgage review

The start of a new year almost always inspires individuals to commit to resolutions that will improve the quality of life. And in the spirit of the new year, new you mantra, a mortgage review reminder is aptly timed. Many mortgage holders underestimate the value of proactively reviewing their finances and in particular their mortgages. Yet just like annual health checkups, annual mortgage reviews are every bit as important as reviews can sometimes result in hundreds or even thousands of dollars in savings. They also are very useful when trying to determine if the mortgage plan still fits ones circumstances. Reviewing a mortgage allows the holder to look at several factors that include reviewing the mortgage term, the monthly payments and even the insurance coverage on the loan. The review can include looking at individual credit and the value of your home. As a mortgage broker, I can discuss the impacts on your long term finances if we create a plan that that could potentially include making increased monthly payments or contributing a lump sum. With the new year underway and Canadians buying power being impacted due to new stress test rules that came into effect as of January 1, home owners and buyers need to seek the advice of a licensed mortgage professionals, such as myself. I can expedite the review process with a simple check of current rates and fees for a refinance and the terms of the current loan. Contact me today to start the conversation and ultimately find the best mortgage for your needs.

Non-Resident ownership of condo apartments remains low and stable: CMHC

The share of condominium apartments owned by non-residents remains low in the 17 Canadian Census Metropolitan Areas (CMAs) surveyed, with the majority reporting shares of less than 1%. Non-resident ownership shares remained stable in Vancouver and Toronto, while Montreal saw an increase. Toronto, Vancouver, Montral, Halifax, Victoria and Gatineau have non-resident ownership shares above 1% of the condominium apartment stock. Montral saw an increase in the share of non-resident ownership of condominium apartments, rising from 1.1% in 2016 to 1.7% in 2017. The share of condominium apartment owned by non-residents remained low and stable in Canada. The lack of growth in Toronto and Vancouver, combined with the increases in Montral, indicate the possibility of a shift from these centres after the introduction of foreign buyers taxes in Ontario and British Columbia. Other factors attracting demand to Montral include lower housing prices and a relatively strong economy. It should be noted that foreign ownership is just one of the factors influencing Canadas housing markets. Other important factors include housing and land supply constraints as well as the economic and demographic fundamentals that drive housing demand, says Bob Dugan, Chief Economist, CMHC.


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