With the Bank of Canada continuing their upward trajectory of interest rate hikes, with many economists and analysts projecting two more rate increases this year, some homeowners that bought in the last few years are becoming increasingly worried about what this all means for the mortgage they committed to.
In this video, Surrey Real Estate specialist Steve Karrasch of Macdonald Realty addresses a question brought up in the comments section of a previous video regarding what would hypothetically happen if you bought at the peak of the market and prices drop far enough and for long enough that you find yourself in a negative equity position in 5 years when it comes time to renew your mortgage. Steve also discusses the differences between adjustable rate mortgages (ARM) and variable rate mortgages (VRM) and how these two types of mortgages differ.
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If you are looking for help or have any questions regarding real estate in Surrey, B.C. or the Fraser Valley, please reach out below using which ever way is most convenient. We also service real estate sales Langley, Delta, White Rock, Abbotsford, Mission, and more Greater Vancouver Cities.
book time with Steve
call or text: 604-549-5828
In this video, Surrey Real Estate specialist Steve Karrasch of Macdonald Realty addresses a question brought up in the comments section of a previous video regarding what would hypothetically happen if you bought at the peak of the market and prices drop far enough and for long enough that you find yourself in a negative equity position in 5 years when it comes time to renew your mortgage. Steve also discusses the differences between adjustable rate mortgages (ARM) and variable rate mortgages (VRM) and how these two types of mortgages differ.
- - -
If you are looking for help or have any questions regarding real estate in Surrey, B.C. or the Fraser Valley, please reach out below using which ever way is most convenient. We also service real estate sales Langley, Delta, White Rock, Abbotsford, Mission, and more Greater Vancouver Cities.
book time with Steve
call or text: 604-549-5828
email: steve@krproperties.ca
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DOWNLOAD Our *FREE* Home Buyer's Guide
Are you a REALTOR®? Want to learn how to level up your business?
Learn how to improve your message with the #1 Real Estate Video Course or my YouTube Course for Real Estate
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DISCOUNT CODE: Steve10
Subscribe To The Tom Storey Show Podcast with Steve and Tom:
YouTube: https://www.youtube.com/channel/UCse8VG5r3C9O9S7W6-p5sNg
Spotify: https://open.spotify.com/show/7wEEPUUhaC8g2CsIwJetbd
Apple Podcast: https://podcasts.apple.com/ca/podcast/the-tom-storey-show-with-steve-tom/id1627632474
Amazon: https://music.amazon.ca/podcasts/b350a4ef-35bd-44aa-bec9-881c3677f489/the-tom-storey-show-with-steve-tom
Anchor: https://anchor.fm/s/9879d360/podcast/rss
My Video Gear:
Microphone: https://amzn.to/3mim9u5
Interview Microphones: https://amzn.to/3nzryhx
Studio Lights: https://amzn.to/3r8uLoY
Ring Light: https://amzn.to/3ACAIPg
Mobile Light: https://amzn.to/337evN9
Wall Mount Boom: https://amzn.to/3fjtaHq
Teleprompter: https://amzn.to/3tg1iwg
Teleprompter Screen: https://amzn.to/3qef54m
Power Supply: https://amzn.to/3qYpe4o
USBC Hub: https://amzn.to/3r2ACw1