So, about that shelter inflation problem...

The federal government must have figured home prices weren't going up fast enough because the real estate fairy just left a trio of stimulative policy changes under home buyers' pillows.

How competitive is it out there in Mortgage Land?

It's so competitive that lenders are now offering cashback to retain renewals.

"I have never seen a cashback on a renewal," says veteran broker Jim Tourloukis. "But this is [happening now at] a broker lender. They offered the client a lower rate plus $3,000 cash on a $420,000 renewal on the day of closing!" (His emphasis.)

Tourloukis, who does hundreds of mortgages a year and coaches brokers, says mortgage brokers can, and must, counter these programs.

There hasn't been this much buzz before a U.S. policy easing cycle since 1981.

Virtually this entire year, economists have played the guessing game on when in 2024 the Fed would cut. That's led borrowers down a long road of anticipation.

Now, we're almost on the eve of it. And it's hard to overstate the significance of the Fed giving the all-clear sign for inflation—particularly the significance for Canadian mortgage rates.

Canada has a shiny new rate comparison website. It's called EveryRate.ca.

If you're a broker or lender, you may be rolling your eyes, thinking, we need another rate comparison site like Jeff Bezos needs a penny.

But, for EveryRate.ca co-founder Andy Hill, it's simply about serving up what consumers hunger for: juicier deals.