Banks Admit What Brokers Have Been Saying All Along

Katherine Martin • March 30, 2015

In an article published on the Globe and Mail this morning titled Amid fierce mortgage battle, some banks shifting focus from rates to features, it appears that a couple of banks are admitting what mortgage brokers like me have been saying for years…

Choosing a mortgage product is a lot more than simply finding the lowest rate.

The main point of the article is that banks are changing their marketing strategy because what they have been doing in the past is not as effective in today’s ultra-low rate environment.

“With interest rates at record lows and banks increasingly battling with credit unions and other non-bank lenders for market share, lenders are having a difficult time standing out from the pack… In the era of low rates and fierce competition among mortgage providers, banks are now finding diminishing returns from spending marketing budgets on campaigns aimed at offering the lowest rate.”

So only now that advertising rates is proving less effective do banks want to shift the conversation away from rates and onto mortgage features? How convenient.  

“We all know there is so much more involved in the home-buying decision and taking on such a large debt. To keep the conversation focused on just the rate does a disservice to consumers.” ~ Sean Amato-Gauci, RBC’s senior vice-president of home equity financing.

Let me get to the point of it. Banks will always change the messaging to sell you on what they want to sell you on. When you deal with a single institution, you are working with someone who has their own best interest in mind. There is a reason RBC’s profit hit $2.46 Billion in the first quarter of 2015. They are really good at making money.

Unlike dealing with a bank, when you deal with me, I represent you to several lending institutions so that you can choose what you want your mortgage to look like. Maybe (despite what the banks will tell you is important) all you care about is rate… great, I will get you an incredible rate on any term you like (not just the 5 yr fixed).

Or maybe you are looking for flexibility, I will make sure you don’t get stuck in a collateral charge mortgage.

Or maybe you are self-employed and your income isn’t all that straightforward, no problems, I have lenders who understand your needs.

Regardless of your situation and whatever you are looking for in a mortgage, don’t limit yourself to a single institution’s products when you have access to the entire market for free… with professional unbiased advice.  

There is a reason smart people say “Buy bank stocks, not bank mortgages”.

Have questions? Contact me anytime!

Katherine Martin


Origin Mortgages

Phone: 1-604-454-0843
Email: kmartin@planmymortgage.ca
Fax: 1-604-454-0842


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RRSP Home Buyers’ Plan Explained: A Smart Way to Buy Your First Home

By Katherine Martin • August 5, 2026
Saving for a down payment is one of the biggest challenges first-time buyers face. What many don’t realize is that the Canadian government offers a program designed to make it easier—the Home Buyers’ Plan (HBP) . This program allows you to withdraw money from your RRSP to help purchase your first home, without immediate tax consequences. Here’s how it works: Who Qualifies? To be eligible, you generally need to be a first-time home buyer. In practical terms, this means you must not have owned a home in the past four years, nor lived in a property owned by your spouse or partner during that time. There are also special allowances if you’re living with a disability or helping a relative with a disability. In these cases, you can use the HBP even if you’ve owned a home more recently. How Much Can You Withdraw? Under the program, you can access up to $35,000 from your RRSP as an individual. Couples can combine their withdrawals for a total of $70,000 . These funds must have been in your RRSP for at least 90 days before you take them out. Paying It Back The HBP isn’t “free money”—it’s an interest-free loan from your own retirement savings. You’ll have 15 years to repay the full amount back into your RRSP, starting in the second year after withdrawal. Each year, the CRA will send you an HBP Statement of Account outlining how much needs to be repaid. If you don’t make your repayment in a given year, that amount will be added to your taxable income. Why It’s a Smart Strategy The HBP can give first-time buyers a powerful boost toward homeownership. It helps you put together a larger down payment, which can reduce your mortgage amount and monthly payments. Just remember: it’s important to balance the short-term benefit of homeownership with the long-term impact on your retirement savings. Next Steps Thinking about using the Home Buyers’ Plan? Let’s sit down and review whether it’s the right move for you. Together, we can create a strategy that gets you into your first home while keeping your future financial goals on track. 📞 Reach out anytime—it would be a pleasure to guide you through the process.

Employment and Mortgage Qualification: What Lenders Look For

By Katherine Martin • July 29, 2026
When you apply for a mortgage, your employment history and status carry a lot of weight. Even if you feel secure in your job, lenders need proof that your income is reliable and will continue. To them, your employment status is one of the strongest indicators of whether you can make your mortgage payments long term. Here’s how lenders typically view different employment situations: Permanent Employment This is the gold standard. Once you’ve passed any probationary period and hold permanent status, lenders see you as a lower risk. It shows that your employer is committed to you, and your income is steady. Probationary Periods If you’re still on probation—usually 3 to 6 months, though sometimes longer—lenders may hesitate. That’s because your employer can end your contract without cause during this period. Once probation is over, you’re considered more secure. That said, context matters. If you’ve worked with the same company for years as a contractor and just transitioned into full-time employment, lenders may accept a letter from your employer confirming that probation is waived. Documentation is key here. Parental Leave Being on or about to take parental leave doesn’t mean you can’t qualify for a mortgage. As long as you have a letter from your employer guaranteeing your position and return-to-work date, lenders can use your regular salary—not your leave income—when assessing your application. Term Contracts This is one of the trickiest categories. Even highly skilled professionals with strong incomes can face challenges here. A term contract has a start and end date, which makes lenders question the stability of your future income. To use term-contract income, lenders generally want to see at least two years of history, or proof that your contract has already been renewed. The more evidence you can show of consistent employment, the stronger your case will be. The Bottom Line If you’re planning to apply for a mortgage, it’s important to understand how your employment status could affect your approval. Whether you’re starting a new job, coming back from leave, or working under contract, lenders want documentation that proves your income is reliable. 📞 If you’ve recently changed jobs or are planning a career shift, let’s connect. I can help you prepare your file so you qualify with confidence and avoid surprises in the approval process.
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