[Podcasts] Lenders now Seeing 60, 70, even 90-year Mortgages!

As Canadians grapple with the financial burden of these unprecedented circumstances, lenders are introducing extended mortgage terms of 60, 70, and even 90 years. Join Adrian Trott and Ariel Kormendy as they explore these unconventional mortgages’ potential impact and implications on the housing market and individuals’ financial well-being. Discover the rationales behind lenders’ decision to offer 60-, 70-, and 90-year mortgages, as we explore these extended loan terms’ potential benefits and drawbacks. Is this a viable solution for homeowners, or does it merely exacerbate the underlying issue? Watch Episode 244 now and find out!

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0:17 – Intro
3:30 – Lenders now seeing 60 to 90-year mortgages
5:58 – Why buying low with a high-interest rate is a better option right now
11:04 – There will be a huge hike in demand when interest rates drop
12:46 – Be prepared for the expenses that will come with buying a new home
14:42 – Amortization will extend if owners don’t adjust their monthly payments
19:56 – Important things to know if you’re thinking of selling in 2023
25:15 – Recap/outro

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