S10E11 | Hot Topics: BOC, Home Buyer Incentive Cancelled, Property Taxes | REAL Collective Podcast

We're talking about some hot topics: BOC, Home Buyer Incentive Cancelled, Property Taxes and some predatory lending practices.

Sean Tasse (Broker) and Kyle Miller (Mortgage Agent) kick off S10E11 with a Bank of Canada update and discussion on the latest announcement to hold the rate steady. Kyle discusses what this means to those looking to buy or invest right now and our hosts talk about what could be coming down the pipe. They move on to talk about Canada's first-time homebuyer incentive program cancellation by the CMHC.

In the second half our hosts break down what's going to be coming up with property taxes in Ottawa. They explain how the re-assessment costs will be phased in for homeowners and how the mill rate is determined. Sean also speaks about his personal experience with a city appraiser.
Next they dive into a recent news article involving predatory lending practices. They point out what to watch out for and how schemes like this work typically and how to avoid them.

If you are considering buying, selling, or investing, don't miss out on another extremely valuable episode of the REAL Collective Podcast. Keep it REAL Collective!

Are you buying or selling? Book a meeting with Sean or Kyle today!

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#realcollective #podcast #ottawa #realestate #canada

Intro (0:00)
March 6 BOC announcement (2:36)
What’s interesting about these announcements (3:14)
Speculation on what’s coming by the end of the year (4:35)
The importance of doing the math (6:24)
Are most people doing fixed rate mortgages? (8:41)
Riding the variable rates down? (10:20)
Overnight rate does not mean fixed rates (11:25)
As fixed rates drop, your penalty increases (12:03)
CMHC: First-time homebuyer incentive program discontinued (12:45)
Real Collective Marketing Promo (17:40)
Second Half (18:29)
Property taxes are about to be re-assessed with MPAC (19:30)
An example of phasing it in (20:10)
About the mill rate for the city of Ottawa (21:00)
Sean’s experience with a city appraiser (25:16)
Predatory Lending article – a house of cards (26:12)
Relicensing program for Mortgage Agents (30:03)
Outro (33:56)