In this episode, we break down the recent 50 basis point rate cut from the Bank of Canada and what it means for both variable and fixed-rate mortgages. Kyle dives into the bond market's reaction and explains which type of mortgage has historically meant paying less interest over time.

During the break, we talk about why we love working with Kirk Law Office and what makes them stand out. Learn more here: https://kirklawoffice.ca/.

In the second half, Kyle shares a heartwarming story of a mortgage that almost didn’t come together, overcoming obstacles just in time for his client to move into her new home right before Christmas. We also discuss how financing has changed over the years, with clients needing to fit into the bank's mould rather than the other way around.

Don't miss out on another extremely valuable episode of the REAL Collective Podcast. Keep it REAL Collective!

Get your Magic Mind here: https://www.magicmind.com/RCP20 You get 20% for one time purchase and up to 48% off for subscriptions with our code: RCP20

To access our Complimentary Resources (SOLD Price Search, Seller Guide, Buyer Guide & Home Evaluation) visit: https://realcollective.ca/exclusive-resources/

Book a chat with Sean or Kyle today!

Sean: https://calendly.com/seanrealcollective

Kyle: https://calendly.com/kmmortgage/phone-connect

You can also follow us here:

Instagram: https://www.instagram.com/real.collective.inc

Facebook: https://www.facebook.com/realcollective.ca

TikTok: https://www.tiktok.com/@realcollective

LinkedIn: https://www.linkedin.com/company/real-collective-inc

Website: https://www.realcollective.ca

Kyle Miller on Instagram: https://www.instagram.com/kylemillerottawa

Kyle Miller on Facebook: https://www.facebook.com/Kylemillermortgages

#realcollective #podcast #realestate #realestateteam #ottawa

Intro (0:00)

Quick chat about the recent interest rate cut by the BOC (1:30)

What happened with the bond market during the announcement? (2:10)

Historically which rate has been cheaper? (3:30)

Why an adjustable/variable rate could be the way to go right now (5:00)

The main difference between adjustable and static payments (6:30)

You can manipulate your mortgage (9:46)

The difference between Canada and the States (10:36)

Shout out to Kirk Law Office (13:21)

Second half (14:13)

Story time (14:40)

Why it pays to get a second opinion (15:00)

Why are we sending cheques in the mail in 2024? (21:43)

How different financing is today (23:43)

We are trying to force ourselves into the bank’s model (27:45)

Outro (29:14)