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the bank's second house (thelemmy.club)
submitted 1 day ago by to c/shitposting@lemmy.today
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[–] 2 points 20 hours ago (1 child)

I don't know how it works in the US but here you remortgage every 5 years with a new interest rate, and as we head into a bad recession, those rates are going to get insanely cheap

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  • [–] 1 point 19 hours ago (1 child)

    Re financing comes with fees and doesn't make sense to do often. They hide the fees into the new mortgage. Banks don't lower your costs for funsies.

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  • [–] 2 points 19 hours ago (1 child)

    I'm on floating mortgage so I don't think I'm affected - floating just follows the prime interest rate of the BoC + 1.5% or something

    Gambling to go with floating but to me its a no brainer that rates will get cheaper

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