My understanding is that a credit score is hardly an indication of anything and that it is not actually use by creditors, especially the mortgage ones, to make a determination on eligibility.
Prices up. Wages down. Debt defaults. Here’s an idea: Wages up, prices down, no debt defaults. It’s not rocket science.
Stokesmyfire on
I have a variable rate on a 570k mortgage. I was able to increase my payment as interest rates rose, when I renew in 10 months my payments will remain around the same as they are now.
On the flip side I know some people who allowed their mortgages to go into negative amortization and those will be the ones with issues.
LabEfficient on
Remember: most economic problems in Canada are the direct result of Canadians‘ voting choices. Pay your taxes. Elbows up.
GoodMorningOttawa on
Interest rates are too high.
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My understanding is that a credit score is hardly an indication of anything and that it is not actually use by creditors, especially the mortgage ones, to make a determination on eligibility.
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Prices up. Wages down. Debt defaults. Here’s an idea: Wages up, prices down, no debt defaults. It’s not rocket science.
I have a variable rate on a 570k mortgage. I was able to increase my payment as interest rates rose, when I renew in 10 months my payments will remain around the same as they are now.
On the flip side I know some people who allowed their mortgages to go into negative amortization and those will be the ones with issues.
Remember: most economic problems in Canada are the direct result of Canadians‘ voting choices. Pay your taxes. Elbows up.
Interest rates are too high.