Mortgage Rates

[JayT]

Gobbernments have only 2 mandates period, keep people employed and keep interest rates in check to which they have failed on both parts around the world. But then again that's there agenda to you will own 0 and be miserable and we will own it all and dictate how you spend the $$$, very sad. A lot of builders are stepping back right now on building single family homes and are only building multi-family units because of these interest rates so high. Multi-family rentals i mean too some you can buy but most you will rent.

Governments don't control the interest rates. The bank of Canada does and it's a private corporation. That's Why politics is theater. A private corporation determines monetary policy in this country and many others. The reason house prices are so high is because interest rates went to basically 0. when you can finance whatever you want For basically 0% interest you will pay whatever is necessary to get the house you want. Inflation is caused by taking out debt. Every time somebody gets a new mortgage that money is created out of thin air and pushed into the system.

 

[TylerG]

Articles out there with 60-90 year. Thats a bit crazy.
https://cms.ratehub.ca/wp-content/uploads/2023/07/Interest-on-Long-Amortization-June-2023-scaled.jpg

Those terms are super common in the US not so much here in Canada...... Yet.

I'm locked under 2% for another 2.5 years and am really hoping for some corrections in the rates prior to having to renew then

 

[sledneck__11]

Sucks for the people who locked in 5 years ago into a 1-2% rate that they could afford now 6-7 is where they will be at renew time. To me being able to finance a boat/rv for 25 years and trucks for 10 is the issue soon as they dont move enough inventory they stretch the payment plan out and people cant help them selves it seems, most people
Dont look at the cost of borrowing just the biweekly payment which is a whole
Nother issue

 

[acesup800]

Governments don't control the interest rates. The bank of Canada does and it's a private corporation. That's Why politics is theater. A private corporation determines monetary policy in this country and many others. The reason house prices are so high is because interest rates went to basically 0. when you can finance whatever you want For basically 0% interest you will pay whatever is necessary to get the house you want. Inflation is caused by taking out debt. Every time somebody gets a new mortgage that money is created out of thin air and pushed into the system

The BoC is a crown corporation owned by the Federal Govt, unless something changed in the last few years.

 

[drew562]

A guy at the Harley store financed a 65 k bike of 10 yrs. to go full term the loan would cost 120k

 

[mclean]

Same as these guys buying 200,000+ wake boats over 25 years. That's a 400g boat now haha.

 

[TylerG]

Same as these guys buying 200,000+ wake boats over 25 years. That's a 400g boat now haha.

I can't believe the dollars in boats out on the water these days.

 

[mclean]

Yeah the 26 footers are half a million haha. That's wild.

My buddy had a moomba and used it for 6 years and sold it for what he paid. Now, that boat is worth more than he paid for it. Some how they hold their value. Maybe because it's the latest fad.

 

[S.W.A.T.]

Yeah the 26 footers are half a million haha. That's wild.

My buddy had a moomba and used it for 6 years and sold it for what he paid. Now, that boat is worth more than he paid for it. Some how they hold their value. Maybe because it's the latest fad.

If you look at prices that's changing, and pretty quickly.

 

[catalac]

Not to mention the Heloc’s….. banks love to push them and they looked good when bank prime was low. suspect the crunch will be 2025-26 when sub 2% mort renewals come due if rates haven’t dropped.

 

[adamg]

I thought interest rates would stay low. Ill be fine, but not sure how the government is going to pay back all the money they owe....

Easy solution: they will print more money. Which is the plan they've been utilizing for many years now, and they keep getting elected.

 

[lilduke]

Easy solution: they will print more money. Which is the plan they've been utilizing for many years now, and they keep getting elected.

If that worked the debt would be 0

 

[BILTIT]

If that worked the debt would be 0

But it doesnt work that way. The more they print the less each dollar is worth...."inflation". They print more, we get less and less for the dollar, go further and further in debt and then they recoup real physical assets for nothing as people lose them. Transfer of real physical wealth (the only kind really). The banking system is a scam and close to imploding. Hence " the great reset" and you will own nothing.

 

[lilduke]

But it doesnt work that way. The more they print the less each dollar is worth...."inflation". They print more, we get less and less for the dollar, go further and further in debt and then they recoup real physical assets for nothing as people lose them. Transfer of real physical wealth (the only kind really). The banking system is a scam and close to imploding. Hence " the great reset" and you will own nothing.

You will own nothing maybe. I own lots of stuff

 

[BILTIT]

You will own nothing maybe. I own lots of stuff

for now....

 

[pano-dude]

But it doesnt work that way. The more they print the less each dollar is worth...."inflation". They print more, we get less and less for the dollar, go further and further in debt and then they recoup real physical assets for nothing as people lose them. Transfer of real physical wealth (the only kind really). The banking system is a scam and close to imploding. Hence " the great reset" and you will own nothing.

Wrong, I already own everything like my sleds, motos and personal vehicles except my ranch and I am doing everything I can to pay it off before I have to renew in 2 years.

 

[lilduke]

for now....

ur a goof

 

[BILTIT]

Wrong, I already own everything like my sleds, motos and personal vehicles except my ranch and I am doing everything I can to pay it off before I have to renew in 2 years.

and you think the majority of people are like you? I dont think so. And what happens when you cannot buy fuel for all the toys because your social credit/climate score isnt good enough? Cannot license vehicles.... etc. You have to think bigger than just your situation and look at what they are capable of doing, they have already pushed beyond anything in history with govt spending. There is a reason to all thier choices.

 

[BILTIT]

ur a goof

your not seeing the bigger picture, name calling doesnt look good on you.

 

[lilduke]

your not seeing the bigger picture, name calling doesnt look good on you.

You cant take it with you bud. Your negative claus shwab crap every day doesnt look good on you.


Ok own nothing and be happy, sounds great. In the mean time stfu.....