The Closing Table

Buying a home is one of the biggest financial decisions you'll ever make, but some of the most expensive mistakes happen before you even get the keys. In this week's episode of The Closing Table , Realtor Keith Bagg and Mortgage Broker Austin Simon break down some of the biggest mistakes they see homebuyers making in today's real estate market. From stretching your budget too far to misunderstanding mortgage pre-approvals, we're sharing real stories from buyers we've worked with, including one couple who faced a $50,000 repair shortly after purchasing their home. We also discuss whether buying is still better than renting, what's happening with Barrie's rental market, and why getting $50,000 off the asking price doesn't necessarily mean you got a good deal. In this episode, we discuss: 🏡 Why buying at your maximum mortgage approval could be a mistake. 💰 The hidden costs of buying a home that first-time buyers often overlook. 🏦 Why a mortgage pre-qualification isn't the same as a proper pre-approval. 🚗 How car payments and other debts can dramatically reduce your purchasing power. 🔨 Why spending a little more on a quality home inspection could save you thousands. 📉 What's happening with rental prices and condo inventory in Barrie. 🤔 Is buying a home still better than renting? 📊 Why getting a home below asking price doesn't always mean you're getting a deal. Whether you're buying your first home, upgrading to something larger, or simply trying to understand the Canadian housing market, this episode will help you make a more informed decision. 📍 Thinking about buying or selling in Barrie or Simcoe County? Keith Bagg is a local Realtor helping buyers, sellers, and investors navigate the real estate market. 🌐 Website: https://search.keithbagggroup.com 📸 Instagram: https://www.instagram.com/real_keith_bagg/ 🏦 Have questions about getting a mortgage? Reach out to Austin Simon to discuss your financing options and ensure you're properly pre-approved before beginning your home search. About The Closing Table Join Realtor Keith Bagg and Mortgage Broker Austin Simon as they discuss Canadian real estate, mortgage trends, housing affordability, and the stories behind the headlines. Our goal is simple: help Canadians make smarter real estate decisions. New episodes weekly! 👍 If you found this episode helpful, please like, subscribe, and share it with someone thinking about buying a home.

Housing affordability had finally started improving — but rising mortgage rates could be changing that. This week on The Closing Table, Keith Bagg and Austin Simon break down what higher bond yields and mortgage rates could mean for Canadian homebuyers, sellers and the housing market. They discuss why a lower home price doesn't necessarily mean a home is more affordable, how buyers should think about fixed versus variable mortgages, and why getting approved for more doesn't mean you should spend more. Keith also digs into what's happening locally in Barrie, where the overall market can look very different depending on the type of property you're buying or selling. In particular, Barrie's condo apartment market is behaving very differently from the condo townhouse market. In this episode: • Why affordability can worsen even when home prices fall • How higher mortgage rates affect purchasing power • Fixed vs. variable mortgages in today's market • Why buyers shouldn't automatically spend their maximum approval • The hidden psychological cost of a variable mortgage • Why consumer confidence matters so much to real estate • Why buyers and sellers appear to be at a standstill • What's really happening in Barrie's condo market • Why condo apartments and condo townhouses need to be analyzed separately • How buyers can negotiate in a high-inventory condo market • What investors are looking for before jumping back into real estate If you're buying, selling or investing in Barrie or Simcoe County, follow The Closing Table for weekly conversations about real estate, mortgages and the Canadian economy.

Canada is building a lot of housing — but are we actually building the homes Canadians want to buy? In this episode of The Closing Table , Keith Bagg and Austin Simon break down what’s happening beneath the surface of Canada’s housing market. Rental construction now makes up a massive share of new housing construction, while new condo construction has fallen dramatically. At the same time, first-time buyers are starting to return, move-up buyers are finding opportunities, and many Canadian households are carrying more debt than ever. We get into: 🏗️ Why developers are shifting toward purpose-built rentals 🏢 What’s happening to the condo market in Toronto and Barrie 🏠 Why first-time buyers are starting to come back 📈 Why move-up buyers may have an advantage in a falling market 💳 The growing household debt problem in Canada 💰 Why homeowners are eating away at their equity 🏦 Fixed vs. variable mortgages in today’s economy 📊 Why rising bond yields and inflation could put pressure on mortgage rates 🇨🇦 Why we're still cautiously optimistic about Canada long term The housing market is changing quickly, and the opportunities — and risks — look very different depending on whether you're a first-time buyer, investor, homeowner or someone looking to move up. The Closing Table is a weekly conversation about Canadian real estate, mortgages, the economy, and what we're actually seeing on the ground. Subscribe for a new episode every week.

Fixed mortgage rates are moving higher, inflation is back at 3%, and expectations are growing that the Bank of Canada could raise interest rates again. So what does all of this actually mean for Canadian home buyers and homeowners? In this episode of The Closing Table , Keith Bagg and Austin Simon break down what’s happening in the mortgage market, the Canadian economy, and the housing market, and more importantly, how it could affect you. We discuss why rising bond yields are pushing fixed mortgage rates higher, how higher rates reduce buyer purchasing power, and why that could put additional pressure on home prices. We also get into the wave of Canadian homeowners renewing mortgages that were originally taken out near historically low rates. As those households adjust to larger mortgage payments, what happens to consumer spending and the broader economy? Then we tackle the latest inflation numbers. Headline inflation is sitting at 3%, but the underlying numbers tell a more complicated story. We discuss energy and food prices, supply-side versus demand-side inflation, and whether raising interest rates would actually address the inflation Canadians are experiencing. Plus, we cover: • Why fixed mortgage rates and Bank of Canada rates don't move together • The importance of getting properly pre-approved before buying • What rising rates mean for purchasing power • Canada's mortgage renewal wave • Why Keith changed his outlook on future Bank of Canada rate hikes • Whether Canada's economy is performing better than expected • Jobs, wages and hours worked • Canada's immigration and labour-market challenges • Oil prices, refineries and Canada's energy infrastructure • Whether reducing bureaucracy could help unlock investment and housing construction Keith brings the real estate perspective from Barrie and Simcoe County, while Austin breaks things down from the mortgage side. The Closing Table is a weekly conversation about Canadian real estate, mortgages, the economy, and what we're actually seeing on the ground. New episodes every Friday.