The Real Estate and Mortgage Show - January 16
Steve is joined in studio by Barb Kramer, Mortgage Agent at Mortgage Brokers Ottawa and Lisa Boutilier, Realtor Sales Representative at Paul Rushforth Real Estate on today's show.
On today's show, Lisa discusses how the sinking dollar may be affecting the housing market in Canada and comments on her tips in regards to selling a home during winter, which is typically the slower season of the year.
Barb Kramer recaps today's mortgage rates and whether she expects rates to move up or down within the next few weeks. Barb also discusses the alternative mortgage lending space in the industry and who this type of lending is typically aimed at (self-employed, bruised credit, etc..). The intentions of these types of mortgages is to help restore the client's credit issues so that they can renew into an "A" mortgage down the road.
With the variable and fixed rate mortgages still a hot topic of debate, Barb explains that lenders offer the flexibility of allowing you to convert your variable rate into a fixed rate, should you feel unsure about the future of variable rates and whether the banks will pass down any potential rate drops.