The Real Estate and Mortgage Show - July 18
Steve Gregory, Frank Napolitano, Paul Rushforth & Barb Kramer, Mortgage Agent at Mortgage Brokers Ottawa take all of your real estate and mortgage questions on The Real Estate and Mortgage Show.
On this week's episode of The Real Estate and Mortgage Show, Steve, Frank, Paul & Barb discuss the Bank of Canada's latest rate cut. Much like the last rate drop, most lenders did follow with a drop to prime rate, but again like the last drop, they did not pass on the full savings to consumers. Lenders have dropped their prime rate by 0.15%
Frank Napolitano discusses how important it is to keep up with mortgage payments, as your credit report now is now reporting your mortgage history. Should you miss a payment, this will now be available for lenders to view on your report, potentially resulting in future lenders refusing to deal with you.
Barb details how the Bank of Canada's rate drop affects variable rate mortgages and not the fixed rates, which are affected by the bond market.