Mortgage Rates Holding – But What’s the Rest of the Story?

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 The Bank of Canada has decided to hold its overnight interest rate at 4.5%. That’s what’s making headlines. But what are the story lines deeper in the details? 

Longer term rates are starting to come down, although they may not be the best option. Longer amortizations are also in the details. Some as long as 70 years. Banks have been given the green light to expand amortization lengths to help people avoid the need to sell if they’re on variable rates. Of course, that’s going to stop people from being pressured to sell their homes, and that, of course, is going to have an impact on home prices. It also means banks will reap the dividends of this. 

In this episode, a closer look at the fine print of what’s happening with interest rates.   

Guest: Jason Georgopoulos, Mortgage Broker
Twitter @jaymortgageguy
Facebook https://www.facebook.com/profile.php?id=100072263566118 Website: beachmortgages.ca   

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