Open House - The Real Estate and Mortgage Show
Mike Pilon of Romantic Fireplaces is joined in his store by Steve, Frank and Paul. They take all of your real estate, mortgages, fireplaces and B.B.Q. questions.
On this week's episode of Open House - The Real Estate and Mortgage Show, we join Steve Gregory, Frank Napolitano and Paul Rushforth at Romantic Fireplaces with Mike Pilon. Topics this week include home renovations, appraisals and variable versus fixed rates.
A recent survey from the Canada Mortgage and Housing Corporation revealed that Canadians spent over 20 billion dollars on renovations in 2011. This shows that homeowners still have equity in their homes and are investing to increase value. Of the homeowners surveyed, 38% stated they planned to spend at least $1,000 by the end of 2012.
After the Bank of Canada's decision to leave their rate unchanged last week, mortgage rates remain top of mind for financial analysts and homeowners alike. Rates are now expected to stay the same or even decrease in 2012. For those who are unsure, Ottawa Mortgage Broker Frank Napolitano recommends keeping a close eye on mortgage rates and media coverage.