There's a delay between rates going up and it impacting people's mortgage payments.
Here in Canada most people do 5-yead fixed mortgages. So the rate increase won't impact them for another few years.
In terms of high housing prices, that's just our fiat dollars losing value at an incredible rate.
The crash is coming.
Non-fixed rate mortgages are retarded. Does Canada not have 30-year fixed?
Agreed.
Although if they stay this high when I have to renew I might go variable.
Because they can't raise rates. And even if they do, I don't mind paying slightly less principal for a few years.
But I don't have to worry about it for a while yet. Who knows what's gonna happen in the next few years here.
Were spiraling.
That 5 year fixed mortgage is going to be so painful. I guess part of the problem is that in the US all refinanced at low interest rates and now will never move because they can’t afford to, but their current mortgage is super cheap.
Yea, the way I see it is primarily fiat problems.
