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Refinance motherfucker!


SuperSpreader

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On 9/29/2019 at 10:10 AM, 2user1cup said:

What do houses cost in Canada? A banana?

Do you refinance every 5 years?

Do you get fucked after 5?

Looks like >10yr is higher than the ol' US of Freedom

If you did a 5yr fixed you can get a low rate here too but that's riiiiiissssskkky


Houses in Ontario are expensive as hell. In my small town we bought for 250k 3 years ago, now similar ones are going for 350k. The nearest city 45 min away is over 500k average and Toronto 2 hours away is over 1m average for a detached.  Average in the province is 480k

https://www.cbc.ca/amp/1.5098120

 

Rate here have been under 3% for more than a decade. It’s just how the system is here. 25 year but you renew every 5 years, or shorter if you choose. 

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4 hours ago, Rbk_3 said:


Houses in Ontario are expensive as hell. In my small town we bought for 250k 3 years ago, now similar ones are going for 350k. The nearest city 45 min away is over 500k average and Toronto 2 hours away is over 1m average for a detached.  Average in the province is 480k

https://www.cbc.ca/amp/1.5098120

 

Rate here have been under 3% for more than a decade. It’s just how the system is here. 25 year but you renew every 5 years, or shorter if you choose. 

 

So it’s not 5 year fixed, it’s an ARM.

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