The Real Estate and Mortgage Show - April 9
Steve, Frank, and Paul take all of your real estate and mortgage questions. Why would a bank send a mortgage renewal 6 months before the mortgage is due? If your mortgages are due in a couple of years for a couple of your investment properties, is now too early to plan ahead? These questions and more are answered on another episode of Open House.
On today’s show Steve, Frank and Paul talk about spring market trends, mortgage rates and renewing your mortgage.
Paul starts us off, speaking about what current trends are popular in the real estate market. It seems that townhomes and bungalows are what’s being sought after the most, not only by first time homebuyer’s but also couples wanting to downsize. The spring market is moving along at a steady pace and we are starting to see properties listed under $150,000.00 make a comeback.
Frank touches on mortgage rates and feels that the 5 year fixed rate is still one of the best deals when shopping for a mortgage. If your mortgage is coming up for renewal, Frank points out that the best way to get the best rate with your lender is to negotiate in the last four months of the term, as your lender will know you are within a 120 day rate hold period, which is what most of their competitors offer.