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Canada

jimfields33

(19,382 posts)

10. The old "get a good deal" without looking to the future.

Reply to Alexander Of Assyria (Reply #7)

Mon Jun 13, 2022, 07:09 PM

Jun 2022

I never could understand the greed of people. Now they will be shocked that it didn’t turn out the way they thought. Probably will blame the banks for giving them the loans.

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If interest rates go up, 1 in 4 Canadians will have to sell their homes: [View all] applegrove Jun 2022 OP

china is drooling DonCoquixote Jun 2022 #1

Why? Please explain. elleng Jun 2022 #2

Mortgage stress test imposed by Bank of Canada have been exceeded by many homeowners. Alexander Of Assyria Jun 2022 #4

Canadian mortgages reset every five years Fiendish Thingy Jun 2022 #13

OYE! elleng Jun 2022 #16

Why? Their homeloan mortgage rate won't go up. brush Jun 2022 #3

Mortgage rates are going up is the entire reason, the income to payment ratio is set by the feds. Alexander Of Assyria Jun 2022 #6

Ahhh...that's for people looking to buy a home... brush Jun 2022 #9

Canadian mortgages reset every five years. Fiendish Thingy Jun 2022 #12

are all Canadian mortgage variable interest rate ? drray23 Jun 2022 #5

Yes, many took out variable rate terms, large minority if recollection serves....rates where Alexander Of Assyria Jun 2022 #7

OYE! THAT explains it. elleng Jun 2022 #8

The old "get a good deal" without looking to the future. jimfields33 Jun 2022 #10

Maybe, but home prices are up 20% across Canada in last 18 months. Alexander Of Assyria Jun 2022 #18

Whether fixed or variable, loans reset every five years- you can't get a 30 yr fixed in Canada Fiendish Thingy Jun 2022 #14

You can get a 30 year fixed rate mortgage in Canada but the interest is nuts. Alexander Of Assyria Jun 2022 #19

I remember my sister had one of those variable rate loans beck in the 70s captain queeg Jun 2022 #11

That's right True Dough Jun 2022 #15

That's for sure. I sold my house about 5-6 yrs ago captain queeg Jun 2022 #17

Wow, I'm glad my mortgage has gone bye-bye ironflange Jun 2022 #20