In this episode of Pinoy Homes Canada, hosts Paulo and Tess discuss the recent 50 basis point rate cut by the Bank of Canada and its implications for the mortgage market. They explore the differences between fixed and variable rates, the current state of the real estate market, and provide insights on whether now is a good time to buy a property. The conversation also touches on the stagnant condo market in Toronto and the importance of understanding mortgage terms and conditions. In this conversation, Tess and Paulo discuss the current state of the condo market in Durham and Toronto, highlighting the significant number of available units and the importance of pre-approval for potential buyers. They explore trends in the Greater Toronto Area (GTA), including the impact of interest rates on sales and the challenges faced by the pre-construction condo market. The discussion also touches on economic forecasts and their implications for real estate, offering advice for first-time home buyers and predictions for the future of the housing market.

Chapters

00:00 Understanding the Recent Rate Cuts
06:02 Choosing Between Fixed and Variable Rates
11:57 Current State of the Condo Market
22:40 Exploring the Condo Market in Durham and Toronto
28:28 Challenges in the Pre-Construction Condo Market
33:59 Advice for First-Time Home Buyers
39:04 Future Predictions for the Housing Market

Paulo Frencillo
Mortgage Broker
416-907-2090
Mortgage Application:
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Tess Cameron
GTA Realtor
416-564-8895
Instant Home Evaluation:
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