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With that said, I renewed from variable to fixed, and the cheapest option was RBC, only because I have a "loyalty" discount. 5.5% 4yr / small condo loan |
In this market no one is bending over for you, it's you bending over. Do you even qualify to move your mortgage. |
I signed for a 5.29%, 5 year fixed with Scotia (680K loan) I actually had an offer come in today at 5.39%, 5 year fixed, Blue Shore Financial (710K loan). However, I already accepted Scotia. My mortgage broker told me that there's a 4-5 week day on refinances right now, across most banks. |
I only have $110,000 left on my mortgage and I’m on floating variable… you guys think I should just pay it off? I have the cash around and I’m thinking it’s probably better to do that than trying to make a higher % on investments? |
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In regards to your Reason Two, the fact that everyone and their uncle is calling for a recession next year tells me it's not happening. Time will tell. |
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Unless you have a really high risk tolerance, I don't see why someone would try to get a higher yield somewhere else. If you're worried about not having enough cash if the right investment comes around, just get a HELOC at that time. |
As expected another .25% increase in rates this morning taking us to 5% - I'd be at 5.95% if I hadn't locked in (that would be brutal). How are folks still on variable doing? Riding it out? Feeling like Hide the Pain Harold? |
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I'm of the mindset they will dial it back when people start losing their homes, but the more I see it, the more I see that they truly don't care if poor people lose everything as long as they hit their arbitrary target so they can call it a "success" I'm thankful my mortgage payment was very small so I could up the payments with little stress, but it's made the upgrade to a larger place nearly impossible for me. Seeing lots of people my age saying fuck it and either leaving here, or getting serious about their plans to leave the city, or country altogether. All people who are very good at what they do and in the low 6 figure salary ranges, so not people who are just loafing around here by any means. I'm still hoping they have to drop it at some point, but I hope they do it before the house of cards crumbles. |
18 months left on my fixed sub 2 rate. Looking forward to 8% |
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Same. Just going to ride it out, the time to lock in has passed... sigh. |
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As for me, I think this latest round of rate hike takes me up to 6.2% now. Gonna need to do some checking around to see what kind of rates I can get, and lock in for how long. I am also thinking of slashing down the rainy day fund and home repairs fund a bit to pay down the mortgage a touch. Based on what BoC has said today, I don't anticipate rates will start dropping until late next year (Q3/Q4 2024). Need to think of something to keep things afloat. |
You'd figure in this market that sellers would be more receptive and you'd get a better deal. Me and the wife offered on this property https://www.rew.ca/properties/506598...rt-richmond-bc and gave them a very generous 2.9 CASH. Their shitty assessment is only 2.68 but nope they still dont want to play ball. They've been listed for almost 2 months and had zero offers so far. Well whatever, we bought something else now and im just savoring the prospect of this idiot crawling back so i can tell them to fuck off. Yes hobz's mcmansion has an accepted offer. YAY! |
Nice!! When they come crawling back, tell Karen Zhao to pick up her signs, she leaves that shit everywhere, there's been one by my place for so long her fake whitened skin turned even whiter in the sun and then some people kicked it over and threw it next to a trash bin after like 1.5 years lol Probably going to sit there forever too. |
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What's the one that you got accepted on? |
^ I ain’t telling you fuckers where I live ! You might come kidnap spy balloon (take my wife plz ??!!!?) It’s not that I under bid by 300k. It’s more like this idiot over value his property by 300k. It’s east Richmond, it’s mcnair catchment (worst secondary school in Richmond and likely even the GVRD area since it’s ranked 244 out of 289) and the neighbours are all kinda crummy. Finishing are meh for that price range and appliances are garbage. No miele or subzero. No wolf range. Very very generic shit. The only reason we offered on it was because it’s that damn L shape I like and 3 car garage so I can put up a 2 post lift. But for this fucker to reject a cash offer at 2.9 He’s out to god damn lunch. A lot of deals have fallen out due to inability to obtaining financing (according to my realtor). |
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That back yard is pretty lack luster though. Builders never seem to prioritize a covered outdoor space, they would rather give you more interior square footage. I would think with a house that size, why not throw 200-300 sq/ft to a covered patio? |
true. the backyard is a joke... even driving into the property, its not too nice as there are quite a few hobo homes with trash in front of it. The area just isnt that nice compared to west richmond. https://i.postimg.cc/7Y8Y0kLK/1.jpg Some duplexs a few houses before it https://i.postimg.cc/NGrjKMQy/2.jpg If her cunty rich friends ever come visit, we better blindfold them before driving them into the house as its kinda embarrassing to pay 3mil (after property transfer tax, etc) and still live in a dump like this being the cheap china fuck that i am, i was salivating at the prospect of rental income at 2k a month in that legal suite. |
Hell even an uncovered patio. You have to walk on the grass to go around the A/C unit lol. Hobz' doggie and the spy balloon deserve better than that. |
You get SO MUCH better a property in Ladner/Tsawwassen for that money... ocean views etc on Beach Dr... But you already know that... just saying :D |
Man, as a child of the 80's in Richmond I always found the propopagation of the courtyarded McMansions which took over the bungalows such eyesores. |
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