Quote:
Originally Posted by 6793026
I can see it going up .25 and then .25 again. I would be surprised if it went up a full percent in a year.
can see a few people just say fuck it and can't afford paying their mortgage if it went up. Is it going to slow down; maybe for a month or so.
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There's 8 announcements a year, I wouldn't be surprised if I saw 4 raises over 8 announcements. Not like 2 - 4% interest is a lot anyways.
I don't think the people that are buying in today's market will default at 4%. With the qualification required to get a mortgage, seems like all the the people who are buying right now are single income $80 - 120K+, or it's just a rental unit and they are living at home.
Regardless, if the parents gave them a $100 - 300K downpayment, odds are parents will also help them pay off the mortgage if interest rates got too high with their basement suite rental incomes.