Open House - The Real Estate and Mortgage Show
Steve, Paul and Frank (joining them via phone) take all of your real estate and mortgage questions. One of the caller questions dealt with equity and having enough of it to make an investment in real estate.
On this week's Real Estate and Mortgage Show, Steve Gregory, Paul Rushforth and Frank Napolitano discuss the steps Canadians are taking to reduce their debt, investment properties and the current Ottawa real estate market.
A recent report released by the Canadian Association of Mortgage Professionals (CAAMP) stated a large number of Canadians are utilizing pre-payment priveleges to pay down their mortgage debt more swiftly. Ottawa Mortgage Broker Frank Napolitano shares that 23% have increased the amount of their regular payments, 19% made lump sum payments and 10% did both. In addition, 50% of borrowers pay at least $100 more than required on their monthly payments, an encouraging statistic amid the speculation that Canadians are too indebted.
Another topic of much discussion this week is the Ottawa real estate market. More listings are appearing all the time, and sellers are again encouraged to do their research and stage and price homes properly.