Ryan Mackenzie is a 16 year + veteran in the field of finance, and is now working as an independent mortgage broker in the province of Manitoba. He is a wealth of knowledge on the inner workings of banks, particularly as it relates to their lending practices.
Please note, we referred to this episode as “Epsiode 6” in the recording, but it is, in fact, our 7th!
To contact Ryan directly, call or text 431-998-3115 or email ryan@wisechoicemtg.ca
1:39 - Market data discussion begins
11:08 - Absorption conversation and hot areas
14:36 - Ryan asks Denzel about how far he usually takes his flips
19:51 - Denzel boldly predicts the benchmark price will increase in the July data
21:12 - Ryan explains his background
24:59 - Keenan asks Ryan about interest rates and mortgage products
29:48 - Ryan explains how Bond yields impact mortgage interest rates
33:04 - Denzel asks Ryan what the borrowing activity has been like recently
35:03 - Ryan explains how a lot of pre-approved buyers have been priced out
36:02 - Keenan asks Ryan about potential concern for fixed payment variable interest loans
40:25 - Political discussion begins, as pre-presidential election interest rate cuts are discussed
43:29 - Ryan gives Jerome Powell and Tiff Macklem a report card
47:47 - Denzel’s take on the possibility of 4-6 rate cuts in the next 12-14 months
52:17 - Ryan asks Keenan about “frustrated renters” entering the home ownership market
54:23 - Keenan explains why Winnipeg houses are homes first and investments second
56:52 - Keenan asks Ryan about refinancing, the BRRRR method, and the current popularity
66:03 - Denzel mentions some investors are beginning to espouse fear of the market crashing
67:20 - Keenan calls out housing bears
69:58 - Ryan talks about the impossibility of market timing
72:09 - Common reasons loan applications get rejected, and best advice for first time applicants
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