Episode #27 - Home Ownership: Learning the ABC's of Mortgages
Series: Home Ownership (Part 2 of 9)
Publish Date: Tuesday, May 15, 2007
Host: Michael Seaton, Director, MyVault Relationship Team
Guest: Mary Stergiadis, Canada Mortgage and Housing Corporation (CMHC )
You can't listen to a piece of paper
But The Money Clip podcast series from The Vault makes for great listening - especially if you're in the market for some valuable financial advice. So instead of printing the podcast page, why not tune in?
- http://themoneyclip.scotiabank.com
Should you choose an open mortgage or closed? Fixed rate or variable rate? Shopping for a mortgage can be overwhelming - with so many options, it's often difficult to know what type of mortgage will be the best choice for you. In this episode, guest Mary Stergiadis of CMHC talks about mortgages. Listen in, and learn how you can get the most out of your mortgage.
- 00:00 - Intro music.
- 00:30 - Host Michael Seaton introduces the series, himself, guest Mary Stergiadis and today's topic.
- 01:01 - The importance of understanding your different mortgage options.
- 02:16 - What is the difference between a fixed rate mortgage and a variable rate mortgage?
- 03:22 - How can you tell which option will be right for you?
- 04:24 - What is the difference between an open mortgage and a closed mortgage?
- 05:38 - Historically, which option has been the best choice for Canadian homeowners?
- 06:51 - How can you save money with your mortgage?
- 07:39 - Why refinance a mortgage?
- 08:50 - Advice to help Canadians get the most out of their mortgages.
- 09:28 - Wrap up.
- 09:41 - Outro music.
References in this podcast:
1. CMHC's Homebuying Step by Step guide
2. Scotiabank's The Long and Short Mortgage
