Matt Imhoff - Prepayment Penalty Mentor!

Canada's Leading Mortgage Penalty Expert!
Father, Girl Dad
AT Thru-Hiker NOBO 2010

[Canadian Mortgage Trends @CdnMortgageNews]

A recent spike in bond yields has pushed fixed-rate offers higher, while creating a potential silver lining for some existing mortgage holders...

(With insights from @ronmortgageguy and @MatthewImhoff1)

#MortgageRates #CDNmtg #MortgageMarket #BondYields

https://t.co/nEF2yVvtwP

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@SimpliiFin I'd like to know why Simplii Financial is not offering an open term at renewal when CIBC does.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@cibc @SimpliiFin
Now that Simplii is no more, why aren't you offering existing Simplii mortgage holders an open option at renewal?

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@SimpliiFin Hi Steven. Why are Simplii mortgage holders being treated like second class citizens and not offered an open term option, like CIBC mortgage holders?

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@SimpliiFin @cibc Hi Steven! What if I want to move lenders but need a bit more time? What are my options? The renewal agreement does not show any open options.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@HFTVSports Maybe they pulled their goalie for the extra attacker? Need more evidence.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@TSN_Sports Crazy that there has never been a 9 point game, but there has been a 10 point game.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@AravindSitham For existing clients or new clients?

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@WOWA_Canada @ronmortgageguy It could be that you were looking at Scotia's 5 Year Posted Rate - which has been 6.09% since June 9th 2025.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@WOWA_Canada @ronmortgageguy Their average 3 Year Posted Rate for November was 6.05%. It's been 6.05% since June 9th 2025.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@wealthmoose Why are you using the same balance when they would have paid down over $60k of the balance after 5 years at 1.7% on a 30 Year Amortization?

A 4.7% rate is quite high for today.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@cellis921 @17gamepace Same! Plus Adams!

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@heathcummingssr Love Ertz! - Makes more sense if you follow Tennis.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@Forrest72358723 @notthatjoe @ShaziGoalie Unpaid Property Taxes are a Super Priority Lien - that get paid back first, even before the Mortgage.

This is why lenders either want to collect/pay Property Taxes on your behalf or they will ask for confirmation that you are up to date!

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@SteveSaretsky Meanwhile RBC cut their 2 Year and 1 Year Posted Rates by .25% this morning!

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@GoldAlexander I disagree with blaming the client when the vast majority of professionals (broker or mortgage specialists) have limited understanding and zero training regarding interest rate differentials.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

Surprise! That massive mortgage penalty might not be just about Covid or interest rates.
Often, the big penalty is 'baked in' from day one.
PPM recreated the real scenario, showing a borrower hit with a $40,000+ IRD penalty only six months in!

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@GoldAlexander At the eleventh hour. Is it clearly explained on the BMO Mortgage Commitment Letter?

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@GoldAlexander Who's job is it to explain it to the clients? In simple, easy to understand terms.

[Matt Imhoff - Prepayment Penalty Mentor! @MatthewImhoff1]

@GoldAlexander That the customer signs without really understanding what they are signing. This lack of understanding makes the lenders a lot more money!