The Real Estate and Mortgage Show - October 8
Steve, Frank, Barb and Mike take all of your real estate and mortgage questions. Have you heard of the new mortgage rules? Listen now to find out whether these new policies will affect you!
Frank Napolitano opens up the discussion with a recap on the latest mortgage rules Ottawa has announced last week. The main concern for most people is the topic of the new qualifying rate on 5 year fixed rates. With the new policies coming into effect October 17th, 2016, the rate you now have to qualify on will be the lender's posted rate. These rates are currently anywhere from 4.64% to 4.74%. The expected results of this change will prevent some potential home buyers from entering the market, or having to settle on purchasing something much lower than what they may want to buy.
Listen to the full Podcast to hear the rest of the dicussion on this week's podcast.