Mortgage Rates

[BILTIT]

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.....

Sorry that you cant handle someone having a different opinion than yours and still be civil. Hope you can get control of that someday.

If you cannot see the claus schwab/wef stuff yet i guess you never will, well maybe because it will get worse and more obvious.

 

[lilduke]

Sorry that you cant handle someone having a different opinion than yours and still be civil. Hope you can get control of that someday.

If you cannot see the claus schwab/wef stuff yet i guess you never will, well maybe because it will get worse and more obvious.

Youre not being civil. No need for me to be. Ive heard the cluas swhab bs lots.

If you can explain how its useful info to me in anyway i might care

 

[mclean]

We will just start tapping pipelines and making gasoline like they do in Columbia

 

[Caper11]

Humm, even my financial advisor didn’t believe me in that the rates would go up. It took longer than I anticipated, but it’s happening right now.
I imagine some didnt take advantage of the low rates and plan accordingly for the rate hike, the stress test on mortgages came out for a reason.

Last words any banker wants to hear is “I wanna pay off my mortgage”. Lol

Crazy thing is people are still buying at these high interest rates.

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[pano-dude]

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.

Don't give 2 shits about others financial situations, I look out for my family.
I have horses for transportation if ch!t hits the fan

 

[pano-dude]

Humm, even my financial advisor didn’t believe me in that the rates would go up. It took longer than I anticipated, but it’s happening right now.
I imagine some didnt take advantage of the low rates and plan accordingly for the rate hike, the stress test on mortgages came out for a reason.

Last words any banker wants to hear is “I wanna pay off my mortgage”. Lol

Crazy thing is people are still buying at these high interest rates.

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I argued with my advisor about taking money out of TSFA account to pay off mortgage. She said "oh no you'll make more on the investment than I would save on interest payments". TSFA investments have made 1.0%return this year and are down over last 2. I Said its my money and pulled out enough to make a maximum lump sum payment without penalty. Will do the same next year and will be done with the mortgage.

 

[sledneck__11]

If u can, lump sums on your mortgage are the best bang for your buck everytime i havnt even come close yo making on my investments what i save on intrest in the long run by throwing 10 grand at your mortgage when u can, i have however lost 40 grand overnight on rrsps if i wasnt so penalized i would pull my rrsps and dump them on my
House in a second

 

[ABMax24]

BoC has confirmed another 0.25% increase to 5%.

 

[catalac]

From Ab builders association: Alberta in last 12 months 35,250 residences built, housing required 95,000.

Alberta imported 200,000 migrants in last 12 months, If our politicians don’t figure this out and get past the BS that we need more work force we are going to have a train wreck as current mortgages come due for renewal or new home owners see that $400k buys a 1000ft starter home for $3000 a month payments before taxes and utilities. Alberta can not bring 2x the population of Red Deer in one year and expect this to work. Take a drive on QE2 on a long weekend to see the mess. We are living in bizarre times. And wheres Trudeau… lecturing Europe on climate change.

 

[drew562]

How’s a young family gonna do it. With kids ect.

Just my wife and I. We have zero debt but a mortgage. All of our awesome toys are paid for.
8 yrs left on my house. To keep the amortization the same at 8 yrs my payment went from $1700 a month to $3250. On debt of 240k. If I hadn’t changed the payment amount it would be amortized at 44yrs

 

[4extreme]

"You will own nothing and be Happy!"

 

[mclean]

How’s a young family gonna do it. With kids ect.

Just my wife and I. We have zero debt but a mortgage. All of our awesome toys are paid for.
8 yrs left on my house. To keep the amortization the same at 8 yrs my payment went from $1700 a month to $3250. On debt of 240k. If I hadn’t changed the payment amount it would be amortized at 44yrs

Well I think that settles that. I'll be taking my non productive savings amd paying off my house in the next couple years before my rate goes up.

 

[jhurkot]

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[MP Kid]

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Is that just demonstrating 30 yr amortization…. Or can you lock in a 30 yr fixed term?

 

[smokinD]

"You will own nothing and be Happy!"

And that right comment right there friend is exactly why they have increased everything beyond belief crippling people to no end. Straight out of the "Commie/Reset" playbook and the "WEF" clowns and then implemented by the puppets they have installed in various Gobbernments around the world. I know a guy who had 8yrs left on Mortgage but his wife wanted a change of view last year so they sold and added another 100k for view change on top of what they got and now have a 30yr mortgage i said wow crazy. Nothing like getting the compliant ones to go along and think they will someday own it lol! Most stick built newer homes they are slamming up now are only good for 20yrs+ and that is only if they keep the up keep on it. Otherwise you know who will own in it in the end and pay penny's on the dollar for it, Corporations, aka, land developers/Banks. Very sad what is going on and with any hope/blessing we may be able to get back to somewhat affordable rates/pricing. Otherwise lets just get ahead of the curve (lol) and make min wage 50$hr and see how that works. 30-50 yr mortgages mean you will never own it period, wish some would see that though.

 

[ABMax24]

How’s a young family gonna do it. With kids ect.

Just my wife and I. We have zero debt but a mortgage. All of our awesome toys are paid for.
8 yrs left on my house. To keep the amortization the same at 8 yrs my payment went from $1700 a month to $3250. On debt of 240k. If I hadn’t changed the payment amount it would be amortized at 44yrs

Lots struggle. Reality is home ownership is out of reach for a lot of Canadian families.

Our entire system is Fawked. On average the framer that builds the structure of a house makes less on a house than the selling realtor does that snaps a few photos and signs a few pieces of paper.

 

[Bnorth]

Is that just demonstrating 30 yr amortization…. Or can you lock in a 30 yr fixed term?

It's an American example where you can get 30 yr amortizations and lock in a rate for the whole amortization period.

 

[Dragonalain]

Our acreage never sold in time. So yesterday we signed a 2 year commercial mortgage on a different property at 7%. I’m not old enough to remember anything higher. When I bought my first home back in 2012 @350k it was 3.5%. I though wow this is crappy, can’t imagine what ppl are thinking now.


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[mountianguy]

If u can, lump sums on your mortgage are the best bang for your buck everytime i havnt even come close yo making on my investments what i save on intrest in the long run by throwing 10 grand at your mortgage when u can, i have however lost 40 grand overnight on rrsps if i wasnt so penalized i would pull my rrsps and dump them on my
House in a second

Actually the best bang for your buck is weekly payments and doubling up on those when you can. The lump sum still helps but the sooner you attack the principal the shorter the amortization.

 

[Couch]

Our acreage never sold in time. So yesterday we signed a 2 year commercial mortgage on a different property at 7%. I’m not old enough to remember anything higher. When I bought my first home back in 2012 @350k it was 3.5%. I though wow this is crappy, can’t imagine what ppl are thinking now.


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Mid / late 80s had rates at 18%. Wouldn't want to see that again ...

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