Renewal would be with EQ. It looks like a lot of intro offers have promo rates that are relatively low, but have a lot of conditions attached to it.

I spoke to a mortgage broker that I know from the car community and he mentioned that some rates have a stipulation of the original purchase price / market value has to be less than $1MM. In which instance, I really should have just offered 999,999 and given 30K in cash lul.

This whole mortgage renewal thing is stressing me out tho. Not on the day by day pay my bills type of stress but more like where am I even going to be in 5 years LOL.

For mortgages I’ll never use Scotia again even if I have to take a point or two on a rate. Scotia has been a complete joke and they never confirm identity.. like ever it’s crazy and very concerning

I've been super pissed with TD as well. I've called to try and up my mortgage payment like 4x and each time there's an excuse why they can't do it, and it's all just based on logistics on their end.
That's 2 banks that are total shit. Bet all the rest are too lol.

This is just all banks....

I had bank fraud with RBC twice in a row x years ago, the second time, after I locked out all my accounts, I went into a branch to take out cash (while I sorted out the mess)
I gave the teller my bank card, he says enter your pin, I do, "alright how much do you want?" I say 800$ or whatever, then he had to call the supervisor for approval because it was locked.
Supervisor walks up, first thing she asks is "did you verify his ID?"
At this point the three of us are just looking at each other completely dumb founded...... Good times.

Another time they forgot to turn on my auto payments as per phone request, so my credit dropped from 890 to something stupid like 700 due to a "missed" payment..... Still haven't recovered to this day.

/Rant

Fuckkk I needed to read this too. I hate that you’re going thru it but but I’m glad I’m not alone. Let’s keep it going b.

I used to do all my banking there at one point, left after about 15 years of using them and have zero regrets. I wouldn't break a bill in that bank, fuck them.

Each bank has good and bad - I've banked with BMO, Scotia, TD, Tangerine, and Coast and have had good and bad experience with each. My last couple go rounds with TD have been quite good - maybe we got lucky with the advisor we worked with but he was helpful, responsive, and reasonably knowledgeable.

For those spending over 50% of take home on your mortgage - hang in there. That's rough.

This is true for sure, we use RBC now and whenever I have issues I just call a family member who's worked there for a long time and has moved up pretty far. They hook us up with waving fees for us on Credit cards and daily banking, always get the best rates they can offer so it's hard to get better service. If we didn't have a hookup probably wouldn't like the bank as much hah.

Our mortgage costs are about 33% of our take-home pay. We have a detached house in the 'burbs and we are on a variable mortgage. We aren't making extra payments as we're just trying to enjoy life (we are out of the daycare years) and fix up this mid-90s house. We went through the pain when we had a small townhouse and put 2 kids through daycare.

Our total costs including utilities, taxes, and a reasonable amount set aside for general maintenance are about 40-43%.

My wife changed jobs last year and bumped her compensation by 25%. I changed industries a couple of years ago and bumped up my compensation by a similar amount. Plus, last year, we finished the daycare years, so that's how we've weathered rising interest rates and inflation.

When you make these decisions, you go through the spreadsheet blues. It can be incredibly depressing, but in the end, you make the necessary adjustments. Or, you take a chance and try to make more money. My wife works very hard in her new role, but it's opened up a lot of opportunities for her as well.

In the end, we'll all end up dead anyway. The window for these types of decisions is actually quite short. If there's something you want, go for it.

Pre-hikes it was like 15%. Now it's like 25%. And that's just my income. Obvs not a SFH. Aiming for coast-FIRE in the next 3 years and keeping it low stress. I look my 40 year old face in the mirror and still see a 25 y.o is staring back at me. So many others I know my age or slightly older is balding, grey haired or both.

You can do it in easyweb. I've just been upping my payments there to match the rate hikes.

Concept of coastfire always spooks me lol, says I've been coastfire since 25 @ $40K withdrawal. I wonder if that means I should yolo every $ into a 911, since I have enough for retirement at 25 :ilied:


Also if I sell the house, live like a hobo, can be FIRE @ $40K by 36.

https://www.playingwithfire.co/retirementcalculator
https://walletburst.com/tools/coast-fire-calc/

wtf is a mortgage? :pokerface:

Why pay when COV will offer you free downtown housing.

yeah setup a tent, you get free housing afterwards.

Why pay for things at the store, just walk out. Worst case scenario you get free housing + food and released in 24 hours. :accepted:

Now you’re thinking like a liberal. Help me trudeau ! Help me !!!

Hondaracer give badhobz his account back please

ugh i complain about trudeau but what's the alternative. not a god damn one i would vote for.

ressurect old man Jean Chrétien plz

Chretien & Paul Martin, at least they all tried to balance the budget...I'd take Harper for his fiscal policy barring everything else.. Trudeau is just dropping cash like it's hot.

Just give me someone who cares about our balance sheet.

lol balanced budget

When was the last time the deficit went down... politicians been talking about balancing budgets since I was a little kid and that was a long fuckin time ago

Even when the BC liberals said they "balanced the budget" years ago and had a surplus, it was because they sold off crown land like candy and pulled all of ICBC's investments

the budget will balance itself !

I say we give substantially more to Ukraine, like wayyyy more

You don't need to worry on that front as it's going to last for decades. Unfortunately, there's no real exit strategy since Russia will never admit defeat.

Ok then maybe we can give more to Haiti? Like billions more