The Wealthy Barber Podcast #8 — Ron Butler: Real Estate, Mortgages and The Housing-Affordability Crisis
Jan 28, 2025
Ron Butler, a 30-year mortgage veteran and owner of Butler Mortgage, shares his colorful insights on the housing market. He breaks down the advantages of mortgage brokers versus banks and predicts the future of interest rates. The discussion dives into the harsh realities of the housing-affordability crisis, emphasizing the growing divide between homeowners and those struggling to enter the market. Ron also addresses generational shifts in financial attitudes and the rising reliance on parental support for down payments.
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Using a Mortgage Broker
- Consider using a mortgage broker for more choices and potential access to better rates.
- If a broker's rate isn't better than your bank's, you can always return to your bank.
Canada vs. USA Mortgage Brokers
- Mortgage brokers are more common in the US due to historical differences in banking systems.
- The US had state-limited banks, necessitating brokers to connect borrowers and lenders across states.
Interest Rate Forecast
- Interest rates' future in Canada is uncertain due to US influence and a slowing economy.
- Without US trade war impact, the Bank of Canada may lower rates further to stimulate the economy.
