Toronto Star article. October 13/2009. Goes on to describe boasting and bragging at parties about who has the lowest rate and what was your rate? Can be fixed, can be variable, but the rate is a big bragging point. People used to brag about cars, but now it is your mortgage rate. Not only is rate bragged about but so is the term, amortization, 10 year term, TDSR and GDSR a real kama sutra of options! Predicting rates is like parenting a teenager, you think you know but you really don’t. When people are 25-28 they talk about dating, next it is where you are living then comes mortgage rates. Sort of a cycle. They don’t talk about size of debt, it is all about rate. A broker said “it is not about rate but the important factors are life occurences such as children, job loss and how to plan for that. That is true. Rate is important, the product is even more important and advice is critical.
What’s your rate…. Brag on!
This is true, when you get older your conversations tend to concern more about financial and political matters. A mortgage for the most part is definitely a hot topic.
,..] johnsmortgages.ca is one interesting source on this issue,..]