Comments on: Canadian Mortgage Borrowers To See Payments Rise 20%: Bank of Canada

By: Rob Duncan

Rob Duncan — Tue, 23 May 2023 21:34:08 +0000

Don’t think the interest rates will go down you’re dreaming was just at The Royal bank of Canada short term high risk lines of credit AR between 12 and 17%. If you’re a builder you’re in big trouble.

By: James kambeitz

James kambeitz — Tue, 23 May 2023 16:47:36 +0000

This a joke, the banks are trying to make home ownership a rarity. It’s call the WEF and their Great Reset. Where we own no property and we will be happy. The banks can easily freeze the rates but they don’t. Pierre talked about it a few times. This is no conspiracy theory, it’s fact. Trudeau is the most corrupt pm Canada has ever had. If it goes up by that then my mortgage payment will have doubled over 6 years.

By: Dean B

Dean B — Sat, 20 May 2023 19:29:05 +0000

Whoever did the math and calculations for the BoC to predict 20% needs to check their numbers again. My Mortgage already has climbed up 35% .

By: Sergey Goncharov

Sergey Goncharov — Sat, 20 May 2023 11:11:03 +0000

Their most pressing concern is to never lose any money. They are doing everything to prop their ill gotten gains and make others pay for their bad bets. This is “free” markets for you, for those naive who still believe there is such thing as free market. Free market is for us, communism is for them. These people who represent so called “elites” do not care that they are basically undermining majority ability to ever have decent place to call their own. It is all about their investment and them dear.

By: Alex

Alex — Fri, 19 May 2023 11:26:00 +0000

I don’t think they can let house prices fall. The higher the price, the higher the profit to banks and the higher the tax amount to the city. In return, landlords pass that onto renters, which in turn ask for raises so they don’t go homeless. The bank regulator is putting a floor on prices, so that no one escapes Dante’s infernal, and then BoC is complaining about a wage spiral and sticky inflation (Rinse and repeat). Groceries costs are going through the roof, and big ticket items too. And just in case BoC or the bank regulator fails, Trudeau is bringing in more immigrants so that we can have ourselves a genuine fight club. Home Depot and transportation companies are mentioning that people are not buying a lot of big ticket items anymore or doing renovations. It’s literally a choke hold… Also, there is rumour that the pension fund we are all contributing to, will be obsolete by 2050, so folks will need a house to use as a credit card (with their reverse mortgage bs), when there is no more pension. Last but not least, Freeland says she needs to practice fiscal restraint, but only her lips are moving…

I think it either all goes down the creek in a basket, or we all continue to live in our dysfunction corruption where we pay the mafia what it asks us and hope to cash in, in the process (at the risk our kids won’t have anywhere to live)

By: JCH

JCH — Fri, 19 May 2023 03:56:44 +0000

Nah, never fear, the BoC will soon have the interest rate back below 1% – too many corrupt politicians will scream if the value of their real estate investments drop any more, plus I’m sure BoC officials themselves have big RE portfolios! In fact the only people without real estate portfolios to be propped up are the unfortunate “have-nots”.
Everyone, we need to all lobby our politicians to #lethomepricesfall !!

By: J

Fri, 19 May 2023 01:43:48 +0000

In reply to Joe M. 1/3rd of 2 Trillion dollars of Canadian mortgage held by banks and private lenders. Lets let that sink in.

By: Frank P

Frank P — Thu, 18 May 2023 21:27:52 +0000

Won’t happen. If rates stay high til 2026 then we will have bigger problems.

By: Joe M

Joe M — Thu, 18 May 2023 21:13:45 +0000

If only 1/3 of Cambodian households are carrying a mortgage, is this really that bad of news for the ROC?

By: Ken Lankin

Ken Lankin — Thu, 18 May 2023 20:14:21 +0000

And we are just figuring this out now ! Seriously! I have been in the mortgage biz for 50 years . We have all seen ups and downs ! What the public has not seen was 12% interest rates .. majority of today’s mortgage holders only have eyes for what has been seen during the past 5 years ! People got killed on variable rates ! Why ? It’s a huge $$$ maker for lenders . Their cost of funds in this product was low …not so much today ! Housing is not a gamble and unequipped bankers and mortgage brokers played mortgage vs house ! They are losers and now have cost their clients ! Government has messed this up for sure, but it is the consumer who needs to be smart enough to make several inquires . Not just believe their bank is the best …we all know it’s not …