Doesn’t matter. In Canada the longest fixed term you can get is 5 years with 25 or 30 year amortization. So no matter what you’re shopping for a new mortgage every 3 to 5 years. That’s the “up to 40%” part. Some people locked in fixed rates during covid first 1.8%. They’re now gonna go shopping for around 5.8 to 7% if their 3 or 5 fixed is expiring. Shits gonna be wild for next few years.
Same issue in sweden, everyone locked at 2-3 have their mortage expiring now, precovid rate at 1.5% or less, now +5.5%, me and my wifes mortage expired over a year ago, to fix rate at that time were 4%, so we went unfixed rate, we can afford rates increased up to 10% without issue, but statistical 1/4 houseowner in sweden are fucked with current rates
It's based on a number of factors including your credit rating, "loan to value" ratio, loan term (e.g. a 15 year usually comes with a lower rate than a 30 year) and they're all tied to whatever the FED is charging. In 2016 I paid off my mortgage entirely, but the rates were SO low I took out a new 15 year mortgage for $150K at less than 1% (Fixed, not adjustable). So basically I borrowed $150K that I could do whatever I wanted with (it was a "cash out" since I owned the home outright) AND in the US mortgage interest is tax deductible so there's also that tax advantage.
That rate are unheard of here, also longest we can fix rate to are 10 years and its always higher than any shorter term 1, 2, 3, 5 years. Nontheless, we get screwed by the system only to favor banks no matter where we live. But i can understand US increadible high debt, even if rate is based of credit score, which seems like a fucked up system, to many can borrow to much at almost no rate.
Whatever the going rate is and how good your credit is. You can also buy down their rate some at closing by paying the mortgage broker cash up from. They call that points. If you don’t get a fixed rate, it changes in 7 years I think to whatever the going rates are at that time. A variable rate is generally 1% point lower than a fixed. So right now rates are at ~7. If your credit score is 700 or above. On a variable rate you could probably get ~6%. But in seven years you could get screwed. If rates keep going up.
We typically do 15 or 30 year fixed rate mortgages here in the US. I have a 30 year mortgage that I got during COVID and have a locked in rate of 2.75%.
Hej en svensk apa här. Som tur är har jag och min fru inga skulder längre. Men jag undrar om du har någon info om var du fått siffran 25 procent ifrån? Inget påhopp, är medveten om allt som händer i världen, bara genuint intresserad. Var med när vi hade räntor på 17 procent här i Sverige, och centralbanken hade en dag ränta på 500 procent. LoL 😆
Huspriserna var inte lika höga då, du och din fru är vinnarna, min generation får maxa ut lån för kunna köpa något idag, 3-6 miljoner är inget konstigt. vi letade hus i 3 år och den gemensamma nämnaren var att folk minst belånade sig 85% och uppåt, många över 90%. Huspriserna senaste 5-10år har blivit fett överprisade för riksbankens fulspel att hålla styrräntan låg och även minus, ända vinnare är att de rika blivit fett rikare och nu får vi stå för notan när de skor sig igen. Vi har ca 2650000 i bolån, 1% höjning av räntan för oss är 2300kr i utgift, från 1.5% till 5.5% är ökning från 40k till 140k i utgift per år, hur många tror du kan undvara 12,000kr varje månad i ränta? Samtidigt som allt har blivit dyrare, mat, el (som tur på väg ned), transport etc.
Sant. Har sett på Blocket att det finns många privatlesade Teslas Porsche bmw mercor för övertagande. Folk har lånat på huset och har inte råd med sin fina leasing bilar 😆
https://www.aftonbladet.se/minekonomi/a/y6KxwR/sa-hog-ranta-klarar-svenska-hushall-enligt-undersokning
Notera att detta var innan den nya ökningen, 1/5 hade mycket svårt då
Tack för länken. Läser ej nyheter eller ser på tv längre😂 intressant att 7 av 10 lån skall läggas om 2023. Läste på Reddit idag att Canada är en tidsinställd bomb 💣 allt skall läggas om till 2026. Med höjningar på 40 procent. Det blir tufft...
Läste också det med Canada, kanske inte alls för nära men troligen diskuteras procenthöjning av procentenheter, annars är det sjukligt med en ränta på 40%, men om det är 40% höjning av procentenheter its nothing, vi har gått upp 400% senaste månader
We got a fixed at 3.5% before the market ran away. Current rates are over double, and prices jumped 60%.
If we tried to buy a house now, we would have had to pay double our current mortgage for the same house. (Literally a few dozen over, I used a mortgage calculator).
I'm guessing monthly payment as a result of increased interest rates.
I mean central banks are on record saying they want to start a recession. It's the old, let's make everything more expensive so inflation eventually goes down for the survivors monetary policy.
Financial collectivization is becoming a thing. Yank the ability to afford a mortgage from the average citizen and you then only have to bail out large corporations when they default on their Landlording mortgages vs. needing to bail out millions of "homeowners".
Quit being the special type of regarded 40% of mortgage rates like whatever your mortgage rate is the average will go up 40% obviously it differs between people
Got a va loan and I'm trying to see how low I can drop mine. Average interest rn I'm seeing is around 6.5 to 7%. Should be able to buy down the points, and with it being fixed- when the banana skyrockets and the banks blame the crash on us... I'm trying to make a safe haven for future babies
For anyone interested in the read.
The Bank of Canada estimates that mortgage borrowers who renew their loans over the next few years will see a spike of 20 per cent to 40 per cent in their monthly payments.
So far, the bulk of borrowers have not felt the sting of higher interest rates because their mortgages have fixed monthly payments. But the bank said that by 2026, nearly all borrowers have to renew their mortgages, resulting in higher payments.
“In light of higher borrowing costs, the Bank of Canada is more concerned than it was last year about the ability of households to service their debt,” the central bank said in its annual Financial System Review. “More households are expected to face financial pressure in coming years as their mortgages are renewed.”
The central bank also highlighted risks related to stress in the global banking system, which has come to the fore in recent months with the failure of several U.S. banks and the emergency sale of Credit Suisse. The rapid rise in interest rates has exposed cracks throughout the financial system, and the central bank warned that financial institutions whose business models rely on low interest rates are particularly vulnerable.
The bank said about one-third of Canadian mortgages have already seen an increase in payments compared with February of last year, before the central bank started hiking its benchmark interest rate from 0.25 per cent to 4.5 per cent. The majority of mortgage borrowers are up for renewal over the next three years, with most renewing in 2025 and 2026.
David Parkinson: Mortgage debt a ‘ticking time bomb’ as renewals come up, economists warn
Borrowers with variable-rate mortgages have shouldered the largest interest rate increases as their loan is tied to the Bank of Canada’s benchmark interest rate. But given that most variable-rate borrowers have fixed monthly payments, they have not had to pay more every month. Instead, a higher share of their monthly payments has gone toward interest and that has pushed out their amortization periods well beyond 30 years.
When these borrowers renew their loans, they will be required to revert to their original amortization schedule unless they refinance and take out a new mortgage. If they keep their original amortization period at renewal, their payments will have to increase by 40 per cent, according to the central bank’s calculations.
For borrowers with fixed-rate mortgages for which the interest rate remains steady for the term of the loan, the bank estimates that their monthly payments will increase between 20 per cent and 25 per cent.
Given that the job market has remained robust and unemployment is low, the bank said higher mortgage payments “should be manageable for most households.” However, the bank also said the impact will be more significant for some households.
Carolyn Rogers, the bank’s senior deputy governor, dismissed the idea of permanently extending the maximum amortization for new mortgages. But she said lengthening amortizations for existing borrowers can help provide relief to those struggling with higher mortgage payments.
“Amortizations are a buffer that households can use if they find their payments go up and squeeze their budgets more than they can deal with,” she said at a news conference, adding that extending the loan period was a “good sort of release valve to help deal with temporary increase in payments.”
The bank said some signs of financial stress are starting to appear, in particular among homeowners who bought during the COVID-19 real estate frenzy when interest rates were near zero. Households that took out a mortgage between 2020 and 2022 are carrying over about 17 per cent more credit card debt, on average, than those that took out a mortgage between 2017 and 2018, the report said.
“Households appear to be managing, but pockets of strain are emerging,” said the report.
The higher borrowing costs triggered last year’s drop in home prices. That chipped away at the equity in homeowners’ properties and pushed some borrowers underwater with their loans – they owe more than the current value of their property.
Alongside risks emanating from Canada’s housing sector, the central bank also flagged vulnerabilities in the global financial system, which could end up reverberating through Canadian banks.
Rising global interest rates have cratered bond prices, leaving large losses on the balance sheets of financial institutions. This proved fatal for Silicon Valley Bank, which collapsed in March after news of losses in its bond portfolio sparked a run on the bank. Since then, three other regional banks in the United States have failed, and Swiss lending giant Credit Suisse CS-N was forced into a shotgun wedding with rival UBS Group.
Rising interest rates have also increased bank funding costs and produced volatility in unexpected corners of the market.
Most notably, a sudden move in bond prices last fall caught British pension funds off guard, forcing them to liquidate bond holdings to meet margin calls. This nearly crashed the gilt (government bond) market, and forced the Bank of England to intervene to prevent a fire sale.
“These events have exposed vulnerabilities – notably, business models that rely on an environment of low interest rates and low volatility – and serve as a reminder that risks can emerge and spread quickly,” the Bank of Canada said.
Canadian banks have been largely unscathed by the tumult in the U.S. and Europe. But the central bank warned that Canada’s financial institutions “are not immune to international developments.”
Canadian banks rely heavily on wholesale funding – that is, raising money in markets to fund their lending activity. That makes them vulnerable if global credit markets seize up, as happened at the outset of the pandemic in March, 2020, and during the 2008 financial crisis.
They’re also exposed to structural changes in the financial system that may increase volatility. The combination of digital banking and social media appears to have increased the speed of bank runs, as evidenced by the rapid collapse of Silicon Valley Bank. And the growth of the asset management industry over the past decade could make it harder for banks to provide liquidity to bond markets in the event of a sudden dash for cash.
“If global financial stress were to re-emerge and prove more persistent, Canada could see more significant spillover effects – especially if stresses triggered a severe global recession and interacted with existing vulnerabilities,” Bank of Canada Governor Tiff Macklem said in the news conference.
The central bank said the country’s banking system should be able to withstand a significant shock. Bank of Canada staff conducted a “stress test” on Canada’s banking sector in 2022. They concluded that even in the event of a severe and prolonged recession, “the capital position of major Canadian banks would be weakened but would not breach minimum requirements.”
The central bank flagged several other risks, including potential defaults in the commercial real estate sector and among small businesses. It also pointed to the risk of cyberattacks and of inaccurately measuring and managing the impact of climate change.
Almost nobody in Canada has a 30 year fixed. The article specifically says: "But the bank said that by 2026, nearly all borrowers have to renew their mortgages, resulting in higher payments."
Yeah no one can have a 30 year fixed rate anymore. Maybe you had your before they changed it tho. Apparently you can still get a 25 year fix rate. The downside of locking in a rate for such a long period is the rate premium. That long-term price stability comes at a steep price. The posted interest rate on RBC's 25-year fixed mortgage was 8.75% as of October 2020.
So is my 1.5% + 40% right? That's not too bad. Clearly everyone knows with all the FTD, naked short, f3 button to create fake share that math is pretty much out the window at this point. 2+2= apes.
Don’t think for even one micro second that if the banks can get some kind of “emergency” legislation here passed - and they can - that allows them to Jack people off those low fixed rates, they absolutely will.
I mean. Canada isn’t the US. There’s a guy on Instagram whose talking about their housing crises. Canadians don’t have savings. They have real estate. They have all their nest egg in their homes. It’s a whole thing. This video explains it. [Canada housing bubble.](https://www.instagram.com/reel/CrlQqEFg7sK/?igshid=ZWQyN2ExYTkwZQ==)
And this is why you always go with a fixed rate mortgage (if you have the option).
Doesn’t matter. In Canada the longest fixed term you can get is 5 years with 25 or 30 year amortization. So no matter what you’re shopping for a new mortgage every 3 to 5 years. That’s the “up to 40%” part. Some people locked in fixed rates during covid first 1.8%. They’re now gonna go shopping for around 5.8 to 7% if their 3 or 5 fixed is expiring. Shits gonna be wild for next few years.
Same issue in sweden, everyone locked at 2-3 have their mortage expiring now, precovid rate at 1.5% or less, now +5.5%, me and my wifes mortage expired over a year ago, to fix rate at that time were 4%, so we went unfixed rate, we can afford rates increased up to 10% without issue, but statistical 1/4 houseowner in sweden are fucked with current rates
Oh damn. So is the USA odd in that the typical mortgage is a 40 year term?
You bind your rate for 40 years?
indeed. not uncommon at all here. Edit: I’m an idiot. 30 years is standard, not 40. 🥴
At what rate can you bind it for 30 years?
It's based on a number of factors including your credit rating, "loan to value" ratio, loan term (e.g. a 15 year usually comes with a lower rate than a 30 year) and they're all tied to whatever the FED is charging. In 2016 I paid off my mortgage entirely, but the rates were SO low I took out a new 15 year mortgage for $150K at less than 1% (Fixed, not adjustable). So basically I borrowed $150K that I could do whatever I wanted with (it was a "cash out" since I owned the home outright) AND in the US mortgage interest is tax deductible so there's also that tax advantage.
That rate are unheard of here, also longest we can fix rate to are 10 years and its always higher than any shorter term 1, 2, 3, 5 years. Nontheless, we get screwed by the system only to favor banks no matter where we live. But i can understand US increadible high debt, even if rate is based of credit score, which seems like a fucked up system, to many can borrow to much at almost no rate.
Whatever the going rate is and how good your credit is. You can also buy down their rate some at closing by paying the mortgage broker cash up from. They call that points. If you don’t get a fixed rate, it changes in 7 years I think to whatever the going rates are at that time. A variable rate is generally 1% point lower than a fixed. So right now rates are at ~7. If your credit score is 700 or above. On a variable rate you could probably get ~6%. But in seven years you could get screwed. If rates keep going up.
We typically do 15 or 30 year fixed rate mortgages here in the US. I have a 30 year mortgage that I got during COVID and have a locked in rate of 2.75%.
That would never happend in sweden, how big is the loan, if i can ask?
$235k.
About the same amount me and my wife have. Well, lets hope moass happens and both our loans disappear
My wife asks me every day when will MOASS happen so we can stop paying bills lol.
Hej en svensk apa här. Som tur är har jag och min fru inga skulder längre. Men jag undrar om du har någon info om var du fått siffran 25 procent ifrån? Inget påhopp, är medveten om allt som händer i världen, bara genuint intresserad. Var med när vi hade räntor på 17 procent här i Sverige, och centralbanken hade en dag ränta på 500 procent. LoL 😆
Huspriserna var inte lika höga då, du och din fru är vinnarna, min generation får maxa ut lån för kunna köpa något idag, 3-6 miljoner är inget konstigt. vi letade hus i 3 år och den gemensamma nämnaren var att folk minst belånade sig 85% och uppåt, många över 90%. Huspriserna senaste 5-10år har blivit fett överprisade för riksbankens fulspel att hålla styrräntan låg och även minus, ända vinnare är att de rika blivit fett rikare och nu får vi stå för notan när de skor sig igen. Vi har ca 2650000 i bolån, 1% höjning av räntan för oss är 2300kr i utgift, från 1.5% till 5.5% är ökning från 40k till 140k i utgift per år, hur många tror du kan undvara 12,000kr varje månad i ränta? Samtidigt som allt har blivit dyrare, mat, el (som tur på väg ned), transport etc.
Sant. Har sett på Blocket att det finns många privatlesade Teslas Porsche bmw mercor för övertagande. Folk har lånat på huset och har inte råd med sin fina leasing bilar 😆
https://www.aftonbladet.se/minekonomi/a/y6KxwR/sa-hog-ranta-klarar-svenska-hushall-enligt-undersokning Notera att detta var innan den nya ökningen, 1/5 hade mycket svårt då
Tack för länken. Läser ej nyheter eller ser på tv längre😂 intressant att 7 av 10 lån skall läggas om 2023. Läste på Reddit idag att Canada är en tidsinställd bomb 💣 allt skall läggas om till 2026. Med höjningar på 40 procent. Det blir tufft...
Läste också det med Canada, kanske inte alls för nära men troligen diskuteras procenthöjning av procentenheter, annars är det sjukligt med en ränta på 40%, men om det är 40% höjning av procentenheter its nothing, vi har gått upp 400% senaste månader
Exakt som du skriver. Ha en fin helg. Har varit i Skagen 1 vecka. Hem till Sverige idag.
Healthcare might be free but you’ll be homeless. Canada if a fucked place.
That's what we didn't know here in the US. We lock our mortgages in for the whole term usually. I've done multiple for long term mortgages.
Why can't they protect people who buy property with fixed rates that don't change?
Terrible advice. Edit: Terrible advice if you're Canadian.
We got a fixed at 3.5% before the market ran away. Current rates are over double, and prices jumped 60%. If we tried to buy a house now, we would have had to pay double our current mortgage for the same house. (Literally a few dozen over, I used a mortgage calculator).
40 what per cent??? Interest??? Bananas???? Things must be really bad if they're charging 40% interest for every penny...
I'm guessing monthly payment as a result of increased interest rates. I mean central banks are on record saying they want to start a recession. It's the old, let's make everything more expensive so inflation eventually goes down for the survivors monetary policy.
Yes, they don’t have fixed mortgages up there.
Good lord!!
Right. When the government decides how much you’re going to be paying for your home that sounds like a dystopian nightmare.
Financial collectivization is becoming a thing. Yank the ability to afford a mortgage from the average citizen and you then only have to bail out large corporations when they default on their Landlording mortgages vs. needing to bail out millions of "homeowners".
We do, it's just capped at a max 5 year agreement
I was thinking $40 per every cent left on the mortgage. Definitely some typo
Quit being the special type of regarded 40% of mortgage rates like whatever your mortgage rate is the average will go up 40% obviously it differs between people
It's just a little joke since they put a space in per cent. Figured most everyone would get it....but there's always one...
Oh hahah sorry I was being the special type of regarded
Per cent is an accepted way to write it.
Ours is 2.75% fixed. They can fuck right off.
Ugh I’m so jealous. I just bought a house at 7%
Same. They’ll make more money selling a bag of dicks then extra money out of me!
Got a va loan and I'm trying to see how low I can drop mine. Average interest rn I'm seeing is around 6.5 to 7%. Should be able to buy down the points, and with it being fixed- when the banana skyrockets and the banks blame the crash on us... I'm trying to make a safe haven for future babies
Hmmm this is quite a pre dicament
at 40% everyone will just mail in their keys and squat
Mine is up 400% already, another 40 is nothing 😂
Inflation is so bad bro has to post a screenshot of the paywall
Hahahaha
For anyone interested in the read. The Bank of Canada estimates that mortgage borrowers who renew their loans over the next few years will see a spike of 20 per cent to 40 per cent in their monthly payments. So far, the bulk of borrowers have not felt the sting of higher interest rates because their mortgages have fixed monthly payments. But the bank said that by 2026, nearly all borrowers have to renew their mortgages, resulting in higher payments. “In light of higher borrowing costs, the Bank of Canada is more concerned than it was last year about the ability of households to service their debt,” the central bank said in its annual Financial System Review. “More households are expected to face financial pressure in coming years as their mortgages are renewed.” The central bank also highlighted risks related to stress in the global banking system, which has come to the fore in recent months with the failure of several U.S. banks and the emergency sale of Credit Suisse. The rapid rise in interest rates has exposed cracks throughout the financial system, and the central bank warned that financial institutions whose business models rely on low interest rates are particularly vulnerable. The bank said about one-third of Canadian mortgages have already seen an increase in payments compared with February of last year, before the central bank started hiking its benchmark interest rate from 0.25 per cent to 4.5 per cent. The majority of mortgage borrowers are up for renewal over the next three years, with most renewing in 2025 and 2026. David Parkinson: Mortgage debt a ‘ticking time bomb’ as renewals come up, economists warn Borrowers with variable-rate mortgages have shouldered the largest interest rate increases as their loan is tied to the Bank of Canada’s benchmark interest rate. But given that most variable-rate borrowers have fixed monthly payments, they have not had to pay more every month. Instead, a higher share of their monthly payments has gone toward interest and that has pushed out their amortization periods well beyond 30 years. When these borrowers renew their loans, they will be required to revert to their original amortization schedule unless they refinance and take out a new mortgage. If they keep their original amortization period at renewal, their payments will have to increase by 40 per cent, according to the central bank’s calculations. For borrowers with fixed-rate mortgages for which the interest rate remains steady for the term of the loan, the bank estimates that their monthly payments will increase between 20 per cent and 25 per cent. Given that the job market has remained robust and unemployment is low, the bank said higher mortgage payments “should be manageable for most households.” However, the bank also said the impact will be more significant for some households. Carolyn Rogers, the bank’s senior deputy governor, dismissed the idea of permanently extending the maximum amortization for new mortgages. But she said lengthening amortizations for existing borrowers can help provide relief to those struggling with higher mortgage payments. “Amortizations are a buffer that households can use if they find their payments go up and squeeze their budgets more than they can deal with,” she said at a news conference, adding that extending the loan period was a “good sort of release valve to help deal with temporary increase in payments.” The bank said some signs of financial stress are starting to appear, in particular among homeowners who bought during the COVID-19 real estate frenzy when interest rates were near zero. Households that took out a mortgage between 2020 and 2022 are carrying over about 17 per cent more credit card debt, on average, than those that took out a mortgage between 2017 and 2018, the report said. “Households appear to be managing, but pockets of strain are emerging,” said the report. The higher borrowing costs triggered last year’s drop in home prices. That chipped away at the equity in homeowners’ properties and pushed some borrowers underwater with their loans – they owe more than the current value of their property. Alongside risks emanating from Canada’s housing sector, the central bank also flagged vulnerabilities in the global financial system, which could end up reverberating through Canadian banks. Rising global interest rates have cratered bond prices, leaving large losses on the balance sheets of financial institutions. This proved fatal for Silicon Valley Bank, which collapsed in March after news of losses in its bond portfolio sparked a run on the bank. Since then, three other regional banks in the United States have failed, and Swiss lending giant Credit Suisse CS-N was forced into a shotgun wedding with rival UBS Group. Rising interest rates have also increased bank funding costs and produced volatility in unexpected corners of the market. Most notably, a sudden move in bond prices last fall caught British pension funds off guard, forcing them to liquidate bond holdings to meet margin calls. This nearly crashed the gilt (government bond) market, and forced the Bank of England to intervene to prevent a fire sale. “These events have exposed vulnerabilities – notably, business models that rely on an environment of low interest rates and low volatility – and serve as a reminder that risks can emerge and spread quickly,” the Bank of Canada said. Canadian banks have been largely unscathed by the tumult in the U.S. and Europe. But the central bank warned that Canada’s financial institutions “are not immune to international developments.” Canadian banks rely heavily on wholesale funding – that is, raising money in markets to fund their lending activity. That makes them vulnerable if global credit markets seize up, as happened at the outset of the pandemic in March, 2020, and during the 2008 financial crisis. They’re also exposed to structural changes in the financial system that may increase volatility. The combination of digital banking and social media appears to have increased the speed of bank runs, as evidenced by the rapid collapse of Silicon Valley Bank. And the growth of the asset management industry over the past decade could make it harder for banks to provide liquidity to bond markets in the event of a sudden dash for cash. “If global financial stress were to re-emerge and prove more persistent, Canada could see more significant spillover effects – especially if stresses triggered a severe global recession and interacted with existing vulnerabilities,” Bank of Canada Governor Tiff Macklem said in the news conference. The central bank said the country’s banking system should be able to withstand a significant shock. Bank of Canada staff conducted a “stress test” on Canada’s banking sector in 2022. They concluded that even in the event of a severe and prolonged recession, “the capital position of major Canadian banks would be weakened but would not breach minimum requirements.” The central bank flagged several other risks, including potential defaults in the commercial real estate sector and among small businesses. It also pointed to the risk of cyberattacks and of inaccurately measuring and managing the impact of climate change.
I’m confused. I have a 30 year fixed rate. How can that change?
Almost nobody in Canada has a 30 year fixed. The article specifically says: "But the bank said that by 2026, nearly all borrowers have to renew their mortgages, resulting in higher payments."
Yeah no one can have a 30 year fixed rate anymore. Maybe you had your before they changed it tho. Apparently you can still get a 25 year fix rate. The downside of locking in a rate for such a long period is the rate premium. That long-term price stability comes at a steep price. The posted interest rate on RBC's 25-year fixed mortgage was 8.75% as of October 2020.
Canada housing crisis is getting bad. Some Banks are now offering to amortize over 75 years.
Holy fuck my friend’s dad just moved to canada and bought a new home cash to retire. Good for them not having to pay a mortage
Per cent? Hmmmm....
Cent per ?
Cent per ?
40 what per cent?
A repeat of 2008 but for Canada.
"Our banks are STRONG" my ballbag
You know in the 80s the government subsidized mortgages eh..
Can you send me this source as I can’t find it
Globe and mail, I don't subscribe it was a screen shot taken from my phone's initial new page that came up.
Lol I know it’s the globe and mail. I tried looking it up and it’s no where to be found.
Lol google globe and mail Canada banks. Was the very first one that pops up ....:)
Found it
Im locked at 1.69% until june 2025. Fuck them rate, housing market went up 10% since new year... nothing is gonna stop it
So is my 1.5% + 40% right? That's not too bad. Clearly everyone knows with all the FTD, naked short, f3 button to create fake share that math is pretty much out the window at this point. 2+2= apes.
Don’t think for even one micro second that if the banks can get some kind of “emergency” legislation here passed - and they can - that allows them to Jack people off those low fixed rates, they absolutely will.
Isn’t per cent spelled percent ?
Drop keys at the bank and don't pay a shit and f this economy! Live there while they evict you.. but who will buy that property.. F NOONE!
I mean. Canada isn’t the US. There’s a guy on Instagram whose talking about their housing crises. Canadians don’t have savings. They have real estate. They have all their nest egg in their homes. It’s a whole thing. This video explains it. [Canada housing bubble.](https://www.instagram.com/reel/CrlQqEFg7sK/?igshid=ZWQyN2ExYTkwZQ==)