Randy Selzer's Real Estate Podcast

We interview Andrew Galea, a prominent mortgage broker with MortgagePal in Toronto. Today's real estate market is filled with uncertainty. Prices are still high, and although there was a recent interest rate cut by the Bank of Canada, a lot of people are still sitting on the fence when it comes to buying real estate. Is now a good time to buy? Will interest rates go down further? Will prices rebound, or will they go down further as well? Andrew quotes the great Warren Buffett when he says, "Be nervous when other people are greedy, and be greedy when other people are nervous." Topics include: - why the big banks in Canada have to adhere to the Stress Test, while certain credit unions do not - how each bank is tied to a specific credit reporting company (there are 3), and how a good mortgage professional knows the differences - should you even consider a variable rate mortgage now that rates appear to be headed down? - how to have a strategy regarding purchasing a rental property - whether it makes s