this post was submitted on 10 Jun 2023
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[–] Noved@lemmy.ca 5 points 1 year ago* (last edited 1 year ago) (1 children)

Just got to renew my mortgage! Wooooo. Lol, 5.25% for 5 years yeah! The only thing that ended up being great was we worked a line of credit in at 1% + prime.

[–] Locke@lemmy.ca 4 points 1 year ago (1 children)

Im at 5.90 now. Fortunately my mortgage has only a little over $100k left. So it sucks, but not painful. Feel bad for people who overextended.

[–] Noved@lemmy.ca 2 points 1 year ago

We refinanced up to 174k but we are still on track to have our 30y amortization paid in 12 or less!

[–] lightrush@lemmy.ca 2 points 1 year ago* (last edited 1 year ago) (1 children)
[–] m9p909@lemmy.ca 2 points 1 year ago (1 children)

I don't understand what this means? ELI5 or is there somewhere I can read up on what real yields mean?

[–] m9p909@lemmy.ca 2 points 1 year ago

Oh, I read the article, interest rates are falling and briefly became negative which spiked inflation. And now interest rates have to suddenly rise to tame inflation.

[–] Gleddified@lemmy.ca 1 points 1 year ago

πŸ’ŽπŸ’ŽπŸ™ŒπŸ™Œ 🦍🦍 on that variable rate. The second I lock in we all know rates are going to crater...

[–] LlamaSutra@sh.itjust.works 1 points 1 year ago

Right as I need to replace my roof 😭

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