On September 7th the Bank of Canada again raised interest rates, perhaps higher than many people expected. They also indicated that they were not finished when it comes to raising rates further.
What does this all mean for real estate investors?
In this special recording from a recent webinar, Daniel Patton of Butler Mortgage outlines the impact this most recent rate increase will have and perhaps what additional rate rises may mean.
In this episode you will learn about:
- Stress tests and qualifying rate changes
- Commercial rate considerations
- Fixed versus variable rates – which one to choose?
- Why fixed rates may be cheaper than variable
- 3% and above means a high risk for the banks
- What is a trigger rate and how to calculate it
- What does an investor do right now?
Daniel Patton is the co-owner of BM Select and has been helping Investors scale their Real Estate Portfolio for over 15 years. BM Select is the # 1 Mortgage Brokerage for volume for the last 5 years, and in 2021 they funded over $600M in mortgage transactions. BM Select continues to be the industry leader for Investors when it comes to buying and selling real estate.
Daniel was born and raised in Mississauga Ontario Canada and grew up playing competitive sports and music while spending some time at school as well. Daniel suffered from ADHD as a child but often says that it has helped shape his career, and in many ways taught him how to be successful in business and as an investor. He has been involved in mortgages since 2003 and his team routinely ranks among the Top 20 Mortgage Agents across the country.
This episode has been brought to you in part by
Black Jack Contracting Inc – https://blackjackcontractinginc.ca/
Private $ 4 Mortgages – http://privatemoney4mortgages.com/
BM Select – https://bmselect.ca/