Open House: The Real Estate & Mortgage Show- November 25
Host Steve Gregory is once again joined by Frank Napolitano and Paul Rushforth on this week’s edition of The Real Estate & Mortgage Show discussing the Ottawa real estate market and the mortgage rate environment.
The team takes this week to discuss a variety of topics including the Ottawa real estate market inventory and understanding which mortgages get the best rates.
Paul discusses how the current housing market can be compared to the normally busy spring market and recommends listing your home sooner rather than waiting for the new year. He also touches on the move of individuals from the Toronto market into the Ottawa market.
Frank gets into some detail about the current mortgage rate environment and the link the bond market with a forecast that prime will most likely remain the same at the next Bank of Canada rate announcement. Frank also details that both mortgage default insurers have noted that they believe Ottawa will remain a vibrant market over 2018.
Frank also mentions that the standard question of “what’s your best rate?” comes with more questions from your Mortgage Broker. He details how the more money you have to put down the higher your rate is going to be- insured mortgages, with less down payment, have the better rates. Discussing this with your Mortgage Broker will be your best strategy and will help you get the best rate for your individual mortgage. Frank recommends starting to shop for your mortgage 6-4 months ahead of your maturity date.
The team also discusses Mortgage Investment Corporations from both the investor and the borrow perspectives.
Paul talks about the Santa Clause parade on December 2nd in Orleans. Their office will be offering bleacher seats, hot chocolate and a warm office for families and spectators.