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Mortgage Rates
- Thread starter ToSlow
- Start date
I recently dawned on me that all those cans of spray paint in the basement were full of propane. They used to be Freon, a fire suppressant. Now they are explosive. They've been moved to the shed. Not having a flame source is good but even a light switch, in the right situation, can make a boom.
EVERYBODY GETS A HIKE
And gets to take a hike.
Clenching onto my fixed rate like nobody's business
Literally took MCAP 45min to send me an email with my new rate.
$100/month up as of today! Yay....not like I had anything else I could do with that money.
If you are "working class" you have an endless source of wealth to share with those who are wealthier than you...
Thankfully not at the stage where I need to sell anything yet (i.e.: motorcycle) to make ends meet.
Hopefully I never reach that stage.
Hopefully I never reach that stage.
Mad Mike
Well-known member
I use my HELOC to buy safe dividend stocks, as long as the return on the stocks is better than the interest on the HELOC, I'm good. Current interest rates are now above my expected return on the stocks -- time to sell and bring the HELOC back to zero.
Also want more liquidity, methinks by spring there will be deals for those with ready cash.
I've been too scared to take my HELOC and buy stocks because I can't stomach the downturn. I'm actually OK with my dividends NOT covering the interest, as I can just pay down the money with the amount I'd be trying to invest anyway (which is above the interest due monthly).
This way, in my mind, I get the added benefit of dumping (let's say 20k) into a stock today...and have the growth over a longer period of time than it would be to scrape together 20k.
My interest on 8k was around $30-40/month. I'm OK with that.
My hardest part is pulling the trigger...as I just can't afford it right now with current rates going up up up.
Whenever selling stuff to stay above water , you almost always just tread water for a couple more months , then it’s ugly again.
The stuff guys are buying then unloading usually has a horrible depreciation right out of the box .
Watched an idiot, “morally bankrupt” his marriage , loose his house and an actual yacht on the way down. As an awesome byproduct he knocked up his girlfriend, who then gave birth to a special needs kid. Winner.
Sent from my iPhone using GTAMotorcycle.com
The stuff guys are buying then unloading usually has a horrible depreciation right out of the box .
Watched an idiot, “morally bankrupt” his marriage , loose his house and an actual yacht on the way down. As an awesome byproduct he knocked up his girlfriend, who then gave birth to a special needs kid. Winner.
Sent from my iPhone using GTAMotorcycle.com
Currently working on going for a higher role at my place of work...will let you guys know if it works out or not.
Decent bump in pay, huge rise in responsibility, but also a big boost to the pension...just waiting to see if I get an interview.
If it doesn't work out...time to make some decisions.
Knocking up the girlfriend won't be a great decision. Follow me for more life tips.
Sent from the future
Hmmm….can you point to where the recession hit last time mr BOC?
And we now have MUCH more debt…
And we now have MUCH more debt…
They also said rates were going to stay at record lows for the forseeable future at the start of 2022...guess they missed their own memo.
Truth is none of us really know what's going to happen. Another 4-6 months and we'll start seeing the effects of these rates. If things turn around in a tizzy, then I would expect rates to go down.
Biggest problem is that rates are cranking very quickly, and as such there's no time for the economy to make a real adjustment to them as these are long term things.
But wtf do I know? Just a sucker on a variable rate.
Happy New Year 2022: Clinking of champagne glasses as Bob and Mary toast signing for a $1.3 M house to be ready in six months. $300 K down payment in hand.
Not so Happy New Year 2023: Bob and Mary celebrate with plonk in paper cups in their $900 K home. Mortgage holder not invited.
Sad New Year 2024: Bob and Mary celebrate in the rented basement apartment of the house they used to own. Five years of sacrifice and plans down the drain.
I can understand the government problem with knee jerk reactions but the best way of preventing a forest fire is by putting it out when it's just a campfire getting too hot.
Real estate said go for it. The banks said go for it. Their friends said go for it. The builder said go for it.
What we have learned from history is that we don't learn from history. I don't know who is responsible for teaching us. Be careful with money. Learn from cuts not amputations.
TK4
Well-known member
Great news! With falling prices and soaring rates, homes now just as expensive as they were before but in a different way!
OTTAWA - Struggling home buyers rejoice! After years of an impossibly expensive real estate market, it looks like home prices are finally starting to fall due to the increased costs of borrowing money to buy one, making homes in Canada just as expensive as they were before but in a different way!
www.thebeaverton.com
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