In my world as a mortgage broker in London, Ontario, I talk to homeowners every week who are thinking about refinancing. They’re overwhelmed with monthly payments, juggling credit card debt, and wondering if they should wait for interest rates to drop “just a little more.”

Sometimes, waiting works out. But more often? Waiting costs real money.

Meet Dave and Lisa – A Real London Story

In early 2024, Dave and Lisa reached out to me. They were a young couple in Old South with a toddler and baby on the way. Between daycare, formula, and the usual bills, things were tight.

We looked at refinancing to roll their credit cards and line of credit into their mortgage. They were paying over $1,100/month in minimum payments on high-interest debt. A refinance would have consolidated everything and saved them over $700/month.

But they hesitated.

They weren’t sure if rates would come down again and thought they’d wait “a few more months.”

What Happened When They Waited

Six months later, rates had gone up. So had their debt balances. On top of that, their mortgage prepayment penalty had increased by over $2,500.

When they finally decided to move forward, they still saw savings—but the total interest saved was nearly $9,000 less than if they had acted earlier.

As Dave put it, “We should have just done it when you first told us.”

Why Timing Matters

Here’s what I tell my clients in London and across Ontario:

- Your current cash flow matters more than chasing a rate.
- High-interest debt grows fast—and unpredictably.
- Refinancing isn’t just about the rate—it’s about the outcome.

If you’re making minimum payments, feeling the squeeze, and wondering whether you should wait or act—talk to someone who can show you the numbers. The right refinance at today’s rate can often beat waiting for a slightly lower rate later.

Want to Know What Waiting Is Costing You?

As The Cash Flow Broker, I help London homeowners make smart, confident decisions—not guesses. I’ll run the numbers for you and give you the facts so you can take action (or not) with clarity.

📩 Let’s see what you could save: https://app.ownwell.ca/join/jasminesrnicek