Tracy Regier, Mortgage Consultant

Are you thinking about co-signing for a mortgage? Do you think you need a co-signor? Here are the pros and cons of having a co-signor!​​​​​​​​​ ​​​​​​​​​Pro #1: You get the mortgage! You may only qualify for the mortgage amount you need with a co-signer.

Pro #2: Inheritance is usually given later in life when it is gifted to a first-time home buyer; it can be even more helpful!

Pro #3: Getting into the market TODAY. The hope is that you will be able to participate in the market appreciation as soon as possible.

Con #1: It impacts your affordability and ability to borrow, so your borrowing power will be reduced if you want to make another significant purchase.

Con #2: You can only come off the mortgage if the borrower can replace you as a co-signer OR qualify independently.

Con #3: It’s a big responsibility. It’s essential to have a good relationship and clear line of communication with the person you’re assisting to ensure everything is in good standing. It’s your credit on the line, too!

More questions about co-signing? Reach out to me today!

In July 2024 inflation dropped to 2.5%, the lowest it’s been since March 2021! This is incredible news and means that the Bank of Canada is likely to do another rate cut in September.​​​​​​​​​​​​​​​​​​“The national statistics agency said inflation increased at the slowest pace in more than three years, since March 2021.
The deceleration was attributed in part to lower prices for travel as compared to a year earlier, when travel tours, airline tickets and accommodation soared in the first summer without COVID-19 restrictions. Passenger vehicles and electricity also saw a year-over-year decrease in price.
The cost of groceries rose at a rate of 2.1 per cent, while shelter rose by 5.7 per cent. Rent costs rose by 8.5 per cent year over year, while mortgage interest was 21 per cent higher amid the hikes in interest rates that began in early 2022.”
-CBC, 2024

On September 4, 2024 we will receive the Bank of Canada’s newest rate announcement, stay tuned to to hear about the decision and what it means for your mortgage!

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Mortgage renewals are a big topic of conversation this year, as around 80% of mortgages that existed in 2022 are up for renewal in 2024. If that’s you, let’s chat!​​​​​​​​​ ​​​​​​​​​You can start planning for your mortgage renewal about 4-6 months before the time comes. This gives you ample time to reevaluate your financial needs and plan/switch.

Lenders offer Switch Programs, in which they pay the legal and appraisal costs to earn your business. Switching at maturity ensures no penalty to your existing lender!

Before you make any decisions, I would love to help you make an informed choice. Please schedule a consultation today, and let’s make your mortgage work for you!

Switching lenders when your mortgage renewal is approaching can seem daunting, but it can have some serious advantages!​​​​​​​​​ ​​​​​​​​​Different lenders may offer more favourable terms and conditions, such as prepayment options, flexibility in payment schedules, and penalties for breaking the mortgage. New products or features may also have become available since you took out your original mortgage. These new features could better align with your current financial goals and needs (i.e. HELOC, investment accounts, etc.).

Switching lenders can allow you to refinance and consolidate other debts, potentially reducing overall interest costs and simplifying your financial management. Some lenders may even specialize in specific types of mortgages (investment properties, self-employment, etc.). Switching can help you find a lender that caters to your unique situation.

Switching lenders allows you to secure a lower interest rate, which can result in significant savings over the life of your mortgage.

Do any of these options appeal to you? Contact me today! I would happily help you secure a mortgage that meets your needs.

Have questions about your mortgage? I’m here to help!​​​​​​​​​ ​​​​​​​​​I offer free consultations to address all your mortgage questions. Whether you're a first-time homebuyer, looking to refinance, or exploring loan options, I’m always ready to assist you every step of the way.

Call or DM me today to schedule your consultation and take the next step toward achieving your home ownership goals!

Guess what, it’s another 𝐑𝐀𝐓𝐄 𝐂𝐔𝐓 ✨ I’m so excited to tell you that the Bank of Canada dropped the interest rate another 0.25%, making the rate 4.5%.​​​​​​​​
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“The move was widely expected by economists as inflation continues to cool and the Canadian economy shows signs of weakness.”​​​​​​​​
-Global News, 2024​​​​​​​​
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According to Bank of Canada governor Tiff Macklem, “‘If inflation continues to ease broadly in line with our forecast, it is reasonable to expect further cuts in our policy interest rate,” he said.​​​​​​​​
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“The timing will depend on how we see these opposing forces playing out. In other words, we will be taking our monetary policy decisions one at a time.”​​​​​​​​
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The second rate cut in as many months will be felt immediately by Canadians carrying debt with variable rates of interest, including some mortgages and home equity lines of credit.”​​​​​​​​
-Global News, 2024​​​​​​​​
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If you want to lock in a rate or are curious what this means for your mortgage payment, please get in touch with me! I’d love to answer any questions you have 🫶🏻​​​​​​​​
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Tracy Regier​​​​​​​​
TR Mortgages​​​​​​​​
The Mortgage Minds Inc.

I wanted to hop on this trend because I value transparency and vulnerability. It’s essential on a platform that’s so heavily curated that most people’s lives aren’t as perfect as they appear! Here are six things that I’ve never shared on Instagram:​​​​​​​​​​​​​​​​​​1. I miss my family in New York every single day.
2. I gave myself a middle name when I was 11 years old because I always wanted one! Alexis!
3. I struggled to get pregnant with my first child.
4. It took me almost 35 years to realize that I was enough.
5. I thought my husband was a pro bowler when we met, it turns out he was a pro hockey player!
6. I am very social but desperately crave time alone after being an extrovert.

I value genuine connection, which you’ll always get with my insta 🥰 So glad you’re here.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Are you a first-time home buyer looking to set your roots in Edmonton, Alberta?​​​​​​​​​ ​​​​​​​​​While you might be super focused on saving for your down payment, having some money for your closing costs is also essential.

Closing costs can be a gamble. These expenses, usually due on or before the day you close, can vary depending on where you live and the type of home you're buying. If you want to plan, a good rule of thumb is to expect them to fall somewhere between 1% - 1.5% of the total price of your new home. That's why it's a good idea to budget for the higher end, just in case you end up with some unexpected closing costs.

Under the umbrella of closing costs are homeowners’ insurance, property taxes, title search fees, legal fees, title insurance, and property inspections.

Questions? Give me a shout! I’m always happy to help you calculate your estimated closing costs.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Are you buying a home for the first time? I have some tips that you should check out!​​​​​​​​​ ​​​​​​​​​Don’t obsess over interest rates.
Interest rates are at historic lows. (Remember, in the 1980s, interest rates in Alberta were over 15%!) Don’t put off buying your first home because you are focused on small increases or decreases in interest rates.

2. Don’t skip the home inspection
While it’s tempting to skip over getting a home inspection when rushing to close the deal, you may pay for this decision later regarding unforeseen repairs that can cost you thousands of dollars.

3. Don’t forget about closing costs
Don’t use all your savings on the down payment! Budget at least an additional 1.5% of your purchase price to help cover legal fees, taxes, insurance, utilities, moving costs, and the home inspection.

If you’re starting your home-buying journey, I would love to join you! Contact me today, and let’s get started.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

The New to Canada Program (NTCP) is a specialized financial offering to help newcomers realize their home ownership dreams in Canada! Helpful for people who have recently immigrated to Canada, the program offers flexibility and unique features to assist those who have just arrived in our country.​​​​​​​​
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Lenders who offer the New to Canada Program may consider alternative sources of credit to help newcomers overcome the struggles of creating a Canadian financial footprint. This creates a crucial step towards stability and integration for individuals and families trying to make their way in a new country.​​​​​​​​
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Contact me for more information about the NTCP, and we can review all the details together. I am here to support you in your home-buying journey! ​​​​​​​​
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Tracy Regier​​​​​​​​
TR Mortgages​​​​​​​​
The Mortgage Minds Inc.

I had a fantastic first day at the .

I was honoured to present on a panel alongside successful mortgage professionals. Stepping on stage for the first time was nerve-wracking, but I grew more comfortable as time passed. These moments of growth are truly invaluable. I gratefully answered each question genuinely.

Thank you to all who attended! I'm excited to see everyone today at the trade show.

Let’s go, Oilers! 💙🧡

We are in the playoffs for the first time since 2006! I can’t wait to watch us on home ice tonight. Let’s get a win under our belt and bring the cup back to Canada!

Share your support for our home team below and let’s cheer them on with all our hearts! 💙🧡

Hallelujah it’s a ✨rate cut✨​​​​​​​​​​​​​​​​​​For the first time in 4 years the key interest rate has lowered by 0.25%, making the rate 4.75%!

This is incredibly exciting as it means inflation is falling.

According to the Bank of Canada:
“With continued evidence that underlying inflation is easing, Governing Council agreed that monetary policy no longer needs to be as restrictive and reduced the policy interest rate by 25 basis points. Recent data has increased our confidence that inflation will continue to move towards the 2% target.”
-Bank of Canada, 2024

Want to lock in a rate with me now that they’ve dropped? Get in touch! Let’s get you in a home 🙌🏻

The next rate update will be July 24, 2024, keep your eyes here to see it first!

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Hallelujah it’s a ✨rate cut✨​​​​​​​​
​​​​​​​​
For the first time in 4 years the key interest rate has lowered by 0.25%, making the rate 4.75%!​​​​​​​​
​​​​​​​​
This is incredibly exciting as it means inflation is falling.​​​​​​​​
​​​​​​​​
According to the Bank of Canada:​​​​​​​​
“With continued evidence that underlying inflation is easing, Governing Council agreed that monetary policy no longer needs to be as restrictive and reduced the policy interest rate by 25 basis points. Recent data has increased our confidence that inflation will continue to move towards the 2% target.”​​​​​​​​
-Bank of Canada, 2024​​​​​​​​
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Want to lock in a rate with me now that they’ve dropped? Get in touch! Let’s get you in a home 🙌🏻​​​​​​​​
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The next rate update will be July 24, 2024, keep your eyes here to see it first!​​​​​​​​
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Tracy Regier​​​​​​​​
TR Mortgages​​​​​​​​
The Mortgage Minds Inc.

Building a plan when budgeting for a dream home is so important! I’ve come up with a few things that I think are important to include to help you get started:​​​​​​​​​ ​​​​​​​​​✅ Start with a pre-approval to have a better understanding of what you qualify for, or, if you already own a property and are hoping to transition to your dream home, schedule a home appraisal with a realtor to better understand how much equity you have to utilize.

✅ Create a realistic budget starting with tracking your expenses, and determining what areas of your spending you can shift to allow for greater contribution to your monthly savings.

✅ Select an account to save in – there are many different home savings plans available with different perks and minimal risk: FHSA, RRSPs, Home Buyer’s Plan, etc. Take advantage of these government programs.

✅ It’s easy to be disciplined with spending in the beginning, but the best way to remain consistent it to review your spending regularly.

✅ A good credit score and minimal consumer debt not only increases your borrowing power substantially, but it allows you access to better interest rates. Consolidating debt and setting up a consistent payment plan can save you tons in interest in the end.

✅ Understand what closing costs are associated with purchasing a home and include these expenses in your overall home savings plan (Legal fees, home appraisals, land transfer tax, etc.).

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

If you’re considering selling your home and have the ability to choose when, you might be wondering when the best time to sell is.​​​​​​​​​ ​​​​​​​​​My best suggestion? Sell in the spring!

Longer days and improved weather make it the perfect time to highlight your home's outdoor charm. Landscaping might be an investment, but it pays off in increased offers and potential bidding wars.

With the housing market in full swing, sellers often receive more offers in the spring. Multiple offers can drive up prices, ensuring your home sells for a premium.

Best Months to Sell? March to June. These months see increased demand, often translating to the best offers for sellers looking to fetch above-average prices.

Best Day to List? While real estate is all about timing, listing your property on a Tuesday, Wednesday, or Thursday allows potential buyers to plan their weekends.

If you’re considering selling to upgrade your home, send me a message. Let me help you finance the home of your dreams! 🏠

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

In April 2024, inflation dropped to 2.7%, the lowest we’ve seen in a long time! This means that the odds of us getting rate cuts soon have increased; how amazing is that 🙌🏻​​​​​​​​​​​​​​​​​​Statistics Canada said the slowdown from 2.9% in March was led by food prices, services, and durable goods. The Bank of Canada’s core measures of inflation, which strip out volatile prices, slowed last month and are now below three percent!

The next overnight rate decision, a key event in our economic landscape, is set to be released on June 5th. This decision, after the Bank of Canada assesses all the economic data, will shape our financial future. Stay tuned here to see how it plays out!

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

This is a great question for anyone looking to purchase a home! Lenders consider multiple factors to determine how much home you can afford, and I’m here to let you in on the secret!​​​​​​​​​ ​​​​​​​​​Credit: Lenders check your credit history to see how you have managed your credit in the past; they want to see that you have access to credit and use it responsibly.

Income: How do you make your income and how do you claim it on your tax return? Lenders want to verify what they can count on hitting your bank account each month. They like consistent income with a reliable history.

Debt: What other monthly obligations do you have? Lenders want to understand how much “other money” goes out each month.

The Property: What is this property going to cost you? (Think property taxes and condo fees) and what are the risks associated with the property? Is it in a flood zone? Do you know if there is a likelihood of required repairs soon?

Would you happen to have more questions about your unique situation? I would love to join you on your mortgage journey! Contact me today, and let’s get the ball rolling.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

What do I do as your mortgage broker?​​​​​​​​​ ​​​​​​​​​I'm dedicated to my clients and I'm here to make buying a home easy for you. I'll learn about your finances and goals, find you the best loan rates, and handle all the paperwork. I'll keep you in the loop at every step, and even after you've got the keys to your new home, I'll still be here to help with any mortgage questions you have. Let's make your dream of owning a home a reality!

Whether you're a first-time buyer or looking to upgrade, my expertise as a mortgage broker is here to guide you towards a brighter future in the home you love.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Are you saving for a downpayment, but don’t know where to put your money first? It can be confusing, but I’ve got you 👇​​​​​​​​​​​​​​​​​​When saving for a downpayment as a First Time Home Buyer, it’s best to MAX out your savings options in this order:

1. First Home Savings Account (FHSA)
This savings option provides a tax benefit and does NOT need to be repaid. You can contribute $8,000 per year as an individual.

2. Registered Retirement Savings Plan (RRSP)
Contributions provide a tax benefit. You can withdraw up to $35,000 using the Home Buyers’ Plan (HBP), but this amount does need to be repaid within 15 years to avoid tax implications. The maximum amount you can contribute each year is dependent on your income and can be found on your Notice of Assessment.

3. Tax Free Savings Account (TFSA)
Contributions do NOT provide a tax benefit, but the money grows tax free. The maximum contribution limit accumulates each year, and in 2024 increased from $6,500 to $7,000. This means that eligible Canadians will now have a cumulative lifetime contribution limit of $95,000.

Have more questions? Reach out to me and I’d be happy to help!

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

There are so many new faces here (Hi!) that I figured it was time to introduce myself again! ✨​​​​​​​​​​​​​​​​​​I am a mortgage broker from Spruce Grove whose professional journey kicked off in the world of mortgages when I determined that I wanted to have my husband home every night instead of working out of town. I also wanted my kids to see an empowered mama as a homemaker and a businesswoman!

Balancing financial intricacies with a passion for mortgage education, my career involves building relationships and a deep appreciation for the legacies I help create in the places people call home.

Beyond working to make people’s home dreams come true, I’m raising my kids, fostering relationships with my friends and family, and engaging with my community!

To chat with me about mortgages (or to find the best local hot spots!), follow or contact me at 780-340-1482.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

The Bank of Canada has maintained the overnight lending rate again today!​​​​​​​​ The rate remains at 5% ✨​​​​​​​​
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"Based on the outlook, Governing Council decided to hold the policy rate at 5% and to continue to normalize the Bank’s balance sheet. While inflation is still too high and risks remain, CPI and core inflation have eased further in recent months. The Council will be looking for evidence that this downward momentum is sustained. Governing Council is particularly watching the evolution of core inflation, and continues to focus on the balance between demand and supply in the economy, inflation expectations, wage growth, and corporate pricing behaviour.”​​​​​​​​​​​​​​​​​​​​​​​​
- Bank of Canada, 2024​​​​​​​​​​​​​​​​​​​​​​​​
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I would love to schedule a free consultation with you if you’re looking to snag a rate hold!​​​​​​​​ Feel free to reach out with any questions or to chat all things mortgages 🫶🏻​​​​​​​​​​​​​​​​
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Tracy Regier​​​​​​​​​​​​​​​​
TR Mortgages​​​​​​​​​​​​​​​​
The Mortgage Minds Inc.

One of the big considerations that goes into determining your insurance premiums is insurance history.​​​​​​​​​​​​​​​​​​But how do you build history without owning a home?

During your renting years making sure to get tenants or contents insurance to start to build that history. It could make a big difference when the time comes to purchase a home! 🏠

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Trusting who you partner with is a crucial factor when it comes to mortgages!

The amount of stress that can be involved depending on your application’s story can lower significantly when you trust the person helping you.

I’m so grateful that my clients trust me throughout the process and enough to refer the right people when needed.

Are you looking for someone to help you through the mortgage process that you can trust fully? I’m your broker! I’d love to build a relationship and help you with your mortgage needs; feel free to reach out anytime. I can’t wait to hear from you.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Credit is something that everyone has, whether you’re aware of it or not!

Your credit score, between 300 and 900, signifies how likely you are to pay back any debt you accrue - and higher is better! There are two credit bureaus in Canada, Equifax and TransUnion, and they track the details in your credit report and provide your score. You can look it up directly or use a service. Your bank likely has a link to one, too.

Did you know that you can also use free services that will monitor your score for you? This includes Borrowell by Equifax and Credit Karma by TransUnion. It will not harm your credit to look at your score since this isn’t considered a ‘pull.’

Your score is calculated by using these percentages:
35% payment history (paying balances on time)
30% utilization (amount owed/available on various credit lines)
15% credit history (length and average)
10% credit mix (type of credit - how diversified are you?)
10% new credit (inquiries for more debt)

You want a high score to have access to credit (mortgages, loans, LOCs), lower interest rates, and cheaper insurance.

Do you have questions about your credit score and how to check it or how it affects your likelihood of getting a suitable mortgage?

My passion is helping you understand the whole process! Reach out to me today, and let’s chat.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Mortgage prepayment privileges make a difference!​​​​​​​​​​​​​​​​​​By paying extra funds to the principal amount, you can reduce your outstanding mortgage balance faster. This will lower the total interest paid over the life of your loan!

Having the option to make extra payments on your mortgage, like paying more monthly or making lump-sum payments, can help you build up equity in your home faster and give you more financial flexibility. It's like having the power to manage your mortgage strategically, so you can adjust it if your financial situation changes unexpectedly. This proactive approach not only reduces the total loan term but also minimizes the overall interest paid, potentially saving you thousands in the long run.

The small things add up to big savings! If you’re wanting to find out how much you could save with prepayment privileges on your mortgage, reach out to me today.

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

You are enough.
You are worthy.

I am honoured to sit in this room surrounded by incredible women in the mortgage industry at the Elevate conference.

To all women worldwide, today is a day to inspire inclusion and take action to drive gender equality. Work should be divided equitably by role, not by gender.



Alberta Mortgage Brokers Association (AMBA)

The Bank of Canada once again announced ɴᴏ ᴄʜᴀɴɢᴇ to the overnight lending rate today!​​​​​​​​ This means the rate holds at 5% 🙌🏻​​​​​​​​
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"Governing Council decided to hold the policy rate at 5% and to continue to normalize the Bank’s balance sheet. The Council is still concerned about risks to the outlook for inflation, particularly the persistence in underlying inflation. Governing Council wants to see further and sustained easing in core inflation and continues to focus on the balance between demand and supply in the economy, inflation expectations, wage growth, and corporate pricing behaviour.”​​​​​​​​​​​​​​​​
- Bank of Canada, 2024​​​​​​​​​​​​​​​​
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If you’re hoping to grab a rate hold before the market warms up, I would love to schedule a free consultation and join your mortgage journey!​​​​​​​​ Feel free to reach out with any questions or to chat all things mortgages 🫶🏻​​​​​​​​
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Tracy Regier​​​​​​​​
TR Mortgages​​​​​​​​
The Mortgage Minds Inc.

If your goal is to purchase a home in 2024… I’ve got you! ✨

If you're searching for the perfect mortgage, that's where I excel. I've got connections with lenders all across Canada – the big banks, major lenders, and even credit unions. I'll do all the legwork for you.

Getting a mortgage is a huge deal, probably one of the most significant financial moves you'll make! That's why it's crucial to team up with someone who's an expert in the mortgage world and has your back.

From pre-approval until you have the keys, it starts with an application. Let’s get started at the link in my bio!

Please share ♥️🙏🏽

Tracy Regier
TR Mortgages
The Mortgage Minds Inc.

Let’s put an end to bullying ✌🏼