Open House - The Real Estate and Mortgage Show
Date Posted: August 7, 2012
On this week's episode of The Real Estate and Mortgage Show, Steve Gregory, Paul Rushforth and Frank Napolitano discuss mortgage rates, recreational and income properties, transferring mortgages, and much more.
Mortgage rates are still sitting at historic lows, and Ottawa Mortgage Brokers have access to lenders with a 5 year 2.99% option. Taking advantage of these low rates is beneficial, especially with a 25 year amortization period that will allow a larger percentage of the mortgage payments to go towards the principal. Frank does advise clients taking advantage of these rates that after the 5 year term, mortgage rates will likely be higher, and there will be a difference in the monthly payments.
For the full Podcast from 580 CFRA, click here.
E-newsletter
| Term | Bank Rate | Our Rate |
|---|---|---|
| 6 Month | 4.55% | 3.75% |
| 1 Year Closed | 3.75% | 2.59% |
| 2 Year Closed | 3.89% | 2.49% |
| 3 Year Closed | 3.99% | 2.65% |
| 4 Year Closed | 4.39% | 2.79% |
| 5 Year Closed | 4.99% | 2.84% |
| 7 Year Closed | 5.99% | 3.40% |
| 10 Year Closed | 6.29% | 3.64% |
| VRM Closed | 3.10% | 2.60% |
| Line of Credit | 4.00% | 3.50% |
