Topic: The money thread

[Ex-airbalancer]

In Jan 10 2001 renewal rates from  BMO
 6 month open 8.3%
12 month open 8.2%
24 month closed 7.45%
36 month closed 7.55
48 month closed7.65%
60 month closed 7.75%
84 month closed 8.05%
120 month closed 8.4%

My SIL had a 6 month term at 22% in around  '81

[Snowman]

With the drop, I'm now at 2%!

Same here. 

[blotter]

here's a pretty intertesting article:

http://www.cbc.ca/news/world/the-spreading-alchemy-of-central-bank-money-printing-1.2933964

[Solstice2006]

With the drop, I'm now at 2%!

Same here. 

When does this take affect as my mortgage comes out tomorrow?  Tomorrow or in another 2 weeks?

[KD]

Almost makes me wish I still had a mortgage...

[ArticSteve]

This is not going to end well.   

[blotter]

With the drop, I'm now at 2%!

Same here. 

When does this take affect as my mortgage comes out tomorrow?  Tomorrow or in another 2 weeks?

all FIs set their own rates.  but the "domino effect" has begun.

[Solstice2006]

This is not going to end well.   

Guess I should sell all my stock,  Buy another house, with these super low rates.  And rent it out to people that don't qualify for a mortgage.  That way when I get laid off due to the country going bankrupt, I still have income coming in.

[blotter]

This is not going to end well.   

Guess I should sell all my stock,  Buy another house, with these super low rates.  And rent it out to people that don't qualify for a mortgage.  That way when I get laid off due to the country going bankrupt, I still have income coming in.

ya but if THEY get laid off, you're stuck with 2 mortgages to pay for.

---------------

anyways...... JUST got an e-mail....  all our MTG rates are moving down tomorrow.
the flip side, is all our GIC rates are dropping as well.   We had a crazy special that was supposed to be good until March 2nd and they're pulling the plug.

[Guy]

This is not going to end well.   

Guess I should sell all my stock,  Buy another house, with these super low rates.  And rent it out to people that don't qualify for a mortgage.  That way when I get laid off due to the country going bankrupt, I still have income coming in.

Wait, your plan has a flaw, your renters will be out of work too. 

Gee, Blotter beat me to it..

[Solstice2006]

This is not going to end well.   

Guess I should sell all my stock,  Buy another house, with these super low rates.  And rent it out to people that don't qualify for a mortgage.  That way when I get laid off due to the country going bankrupt, I still have income coming in.

ya but if THEY get laid off, you're stuck with 2 mortgages to pay for.

---------------

anyways...... JUST got an e-mail....  all our MTG rates are moving down tomorrow.
the flip side, is all our GIC rates are dropping as well.   We had a crazy special that was supposed to be good until March 2nd and they're pulling the plug.

Always possible.  But in Burlington, finding a freehold townhouse with 2 parking spots and a garage for under $400k, is next to impossible.  They sell within a week, without realtors...

[blotter]

This is not going to end well.   

Guess I should sell all my stock,  Buy another house, with these super low rates.  And rent it out to people that don't qualify for a mortgage.  That way when I get laid off due to the country going bankrupt, I still have income coming in.

ya but if THEY get laid off, you're stuck with 2 mortgages to pay for.

---------------

anyways...... JUST got an e-mail....  all our MTG rates are moving down tomorrow.
the flip side, is all our GIC rates are dropping as well.   We had a crazy special that was supposed to be good until March 2nd and they're pulling the plug.

Always possible.  But in Burlington, finding a freehold townhouse with 2 parking spots and a garage for under $400k, is next to impossible.  They sell within a week, without realtors...

I can't even imagine! 
we got our place for $170K - 6 years later it looks like we could get around $190K
should be mortgage free by 50 yrs old

[Solstice2006]

yup my Dad sold his place in Stoney Creek about 4 years ago for around $300k, bought a raised bungalow in Ft.Erie (about 2300 sq feet) with way more lane, huge pool.  4 car driveway, double garage for around $220k! 

[blotter]

far more affordable living down here, that's for sure.

[Solstice2006]

far more affordable living down here, that's for sure.

Yup, but no jobs, no bakery, no good restaurants.

Did you see my question about when the banks would lower the payments for people who have variable rates.  Like i saw your post, about how it was lowered.  But when will I see the difference...

[CanuckS2K]

Almost makes me wish I still had a mortgage...

 

[tpl]

Gold bars, whisky and tobacco hidden under the mattress...

[pi314]

Is frontage more expensive than depth? Around here in NB I don't think we have that narrow lots anywhere. Our lot is something like 60X 80, which is much more common at least in my observation.

Generally here the cookie cutter houses don't have windows on the sides but rather the front and back of the houses.

[ArticSteve]

It seems in Ontario, land tax assessments put little, if at all, penalty, on depth.  Lot of towns, planned in the mid 1800s in southern Ontario, have really deep lots.  Probably 250 feet on average.   

[Triple Bob]

Is frontage more expensive than depth?

Never mind his frontage, feel his width!