This is to be expected nothing increased debt ceiling in the states. I don't think we'll see a lower interest rate anytime soon and it may go up even a few more times
this post was submitted on 06 Jun 2023
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I agree. Who is going to buy bonds with a lower interest rate these days. it doesn't matter what the Bank of Canada wants it to be.
I'm really hoping that things calm down by the time I have to renew. I understand we need to get housing under control, however people are already entering very dangerous economic situations with 30+ year mortgages.
I am in the same position but I am preparing as if the rate will not come down a lot like some of the forecasts say.
Fortunately my kids will be in school by renewal time so I can divert nanny money into mortgage money. 😂
All that saved money will go into sports and activities.
I hope the speculators who are leveraged to their tits will feel the pressure and this will lead to a housing crash. I don't care if this causes a recession -- what is the point of having a "good economy" if we can't afford a place to live?