Pressure on Home Owners in Ottawa - Canadian Housing Market

The Financial Post came out this morning, a very trustworthy Canadian newspaper and talked about mortgage rates. 📰 There's no expectation that they will drop rates until mid-summer, maybe late summer. 📉 But 25% of those that they surveyed said they could handle another rate increase by 1%. 💼 Who are they talking to? 🤔 We're not seeing that. 🙅‍♂️ In actual fact, I'm seeing people calling me and saying, I'm calling for a friend. ☎️ Here's the situation feeling the pressure of the current interest rate on their mortgage and along with everything else, it's increased, there's a lot of financial pressure and not a lot of extra money to go around even had a call this week. 💰 It was calling for a friend bank had reached out to them in November, they started to default on their mortgage and now they're calling us and it's April. 📆 There's not enough runway left. 🛫 It's a little too late. 🕒 My suggestion is that the banks reach to you. 💬 If you get into trouble, start communicating with the bank immediately. 🏦 There are other options we can refinance, reach out to us. 🔄 We can assist you in refinancing, we can get your house in the market. 🏡 We can get it as seamlessly as possible. ✨ But it's important that you act quickly and not procrastinate. ⏰ It's important that we get the communication going and get your house sold or, and, or refinance. 📞 My name is Greg Hamre from Affiliates in Ottawa and the Hamre Real Estate Team. 👋 We're here for you. 🏠

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