CTV Morning Live – October Mortgage Deferrals

ctv morning live october mortgage deferrals ryan bamford

Did you catch Ryan Bamford on CTV Morning Live on October 7th?


Real Estate Demand:

  • The market has low inventory
  • Unprecedented low interest rates
  • It’s a good time to sell
  • If you are looking at buying – you might want to wait depending on your personal situation

Mortgage Deferrals:

  • Banks gave 6 months relief during COVID-19
  • These deferrals have to be repaid
  • It would be wise to talk to your specific bank as every bank will be different and all repayments will be different


  • Lenders add principle and interest for the deferred months
  • Sometimes amortization periods are extended
  • Sometimes monthly payments are being increased
  • If you have extra money it would be wise to pay a little more and get the mortgage payments down
  • The City of Saskatoon is equalizing payments for


  • Banks will look at loan to value ratio
  • Principle and interest added to loan
  • Typically this will be at a higher price point

As always, if you need help buying or selling your house, do not hesitate to contact Gregg Bamford or Ryan Bamford.

Buying or Selling a Home?

Whatever your buying or selling needs or wants may be, we are available to sit down and work through a plan that works best for you and your family. Contact us to get started.