• Noved@lemmy.ca
    5·
    1 year ago

    Just got to renew my mortgage! Wooooo. Lol, 5.25% for 5 years yeah! The only thing that ended up being great was we worked a line of credit in at 1% + prime.

    • Locke@lemmy.ca
      4·
      1 year ago

      Im at 5.90 now. Fortunately my mortgage has only a little over $100k left. So it sucks, but not painful. Feel bad for people who overextended.

      • Noved@lemmy.ca
        2·
        1 year ago

        We refinanced up to 174k but we are still on track to have our 30y amortization paid in 12 or less!

    • m9p909@lemmy.ca
      2·
      1 year ago

      I don’t understand what this means? ELI5 or is there somewhere I can read up on what real yields mean?

      • m9p909@lemmy.ca
        1·
        1 year ago

        Oh, I read the article, interest rates are falling and briefly became negative which spiked inflation. And now interest rates have to suddenly rise to tame inflation.

  • Gleddified@lemmy.ca
    1·
    1 year ago

    💎💎🙌🙌 🦍🦍 on that variable rate. The second I lock in we all know rates are going to crater…