I’ve never been accused of being “brief” when writing blogs, so why would a video be any different? Hope you enjoy the second half of the interview with Tony Della Sciucca, where he answered your mortgage questions! Oh, and in case you missed it, check out part 1 of the interview with Tony.
TRB Readers’ Questions For Tony:
- Or even more generally on this; what trends/responses have you seen in the mortgage market from clients (in terms of behaviour and demand volume) as each of the rate increases got rolled out over the last several months? Has there been any variability to these trends (e.g. more drastic drop early, or more drastic drop with the most recent increase?), or has any reduction followed more of a steady straight-line path?
- With the variable rising and bonds falling, will there be a scenario where fixed rates are lower then variable? If we are heading into a recession that usually mean lower rates ? What has to happen for variable rates to lower?
- I have a question for Tony. Do you believe that inflation is everywhere and always a monetary phenomenon, or not? Defend your answer.
- When variable rates increase does the payment increase, or just the balance between principal/interest changes?
- Have you have seen any appraisals fall short when getting final mortgage approval before closing? Will this cause the bank to reduce the size of the mortgage and force the buyer to pay a bigger down payment than expected?
- Is now a good time to switch to a 3 year fixed rate that is around 4.75 – 5.14%? Will variable rate reach 7% net of discount? During a recession, will interest rates go down?
nogoro
at 8:21 am
could David’s favourite BR flavour be Rocky Road? great interview touching so many topics. will be curious if people really get burned when rates go high enough to the “trigger point”.
Daniel
at 9:29 am
Cookies ‘n Cream??
Jordan
at 3:27 pm
Is it mint chocolate chip?
cyber
at 2:57 pm
rum & raisin
Jason
at 3:50 pm
Rocky road. Its the only flavour with a real estate related word in the name.
JL
at 6:19 pm
How about those “Maple Walnut” interior finishes, though?
David Fleming
at 6:44 pm
Very good and very amusing guesses, but not correct.
Remember, I’m a very odd duck…
J
at 11:44 pm
Bubble gum?
JL
at 9:54 am
So it’s either something super weird, or more likely one of those obvious ones like “vanilla” or plain “chocolate” (that are usually ignored by most people, given the many other creative and exotic flavor choices available there).
LB
at 12:37 pm
i’ll go with my favourite – jamoca almond fudge.
Condodweller
at 12:34 am
I’m going with cotton candy
Jenn
at 2:55 pm
If it’s weird than it has to be like Mango Tango or something wed never expect lol
Condodweller
at 5:58 pm
What would be more “weird” than cotton candy? I don’t know, but I have high confidence is cotton candy. That’s what my psychic powers are telling me.
BTW I wonder what cotton candy ice cream tastes like. I mean cotton candy is basically sugar therefore it’s would just be vanilla but hold the vanilla, right? Just colour it pink.
Lily
at 9:35 pm
Chocolate chip! Because it’s my favourite BR flavour haha
Rambo
at 11:59 am
Mint ice cream