That's a lot of sticks for c lais navigate. One wrong move at night and you're done. Or they open the door too wide into the beams.

On a good note, another -0.25%

i wonder what the snow load on that sucker is, the rare days we get over a foot of snow... but then again there's a lot of enclosed balconies built similar that don't cave...

I renew in Oct 2025 and with the forecasts that are coming out it wouldn't surprise me that I could get a 3% fixed rate by then. That would be really, really awesome.

We renew 2026 Jan. I am hoping for the same. Then I can afford a 911 :lawl:

Well let's say it's about 4.8% fixed now after negotiation pre rate drop. -0.75% = low 4% by end of year, then -1.25% base case next year. So you're down to 2.75% by year end? But then fixed isn't linked to prime, you gotta see what happens to the bonds.

When we renew we'll probably be switching back to variable unless the fixed rates are really good. If you need to renew ATM it's a throw between the two.

Some of it is already priced in so it'll be interesting to see when mortgage rates start moving apart from the BOC's rate. When I look at Ratehub it says even as of today (before the rate drop) that you could get as low as 4.19% and some big banks were in the 4.5-4.7 range already. I'm guessing the rate already priced in the drop though.

Forecasts say to expect the BOC rate to drop to between 2.25 and 3.25 by end of 2025 (from today's 4.25%). There's two more announcements this year and it's pretty much a sure thing that we'll see a pair of .25% drops which gets us down to 3.75% so my money is on it going below 3% for sure which hopefully gets us to a 3% or so mortgage rate.

Reference: https://www.bankofcanada.ca/core-fun...-interest-rate

Variable is still quite expensive ~6%, so 5.25% by year end. And 4% by end of 25. Unless banks starts offering higher discount rates again. Which they should as the whole point of variable is that it's cheaper than fixed due to no guarantees, but not sure when that point will be

i'll be spring 2025, i guess that'll be at around 3.75-4% for me?

competitive rate are already close to

4.44 3-year fixed
4.34 5-year fixed

But apparently won't drop much since bond market priced in this drop already.

Variable after discount is 5.2%, I think it's a clear 3-year fixed, we'd need at least 2% drop to make-up the 1 year of variable @ 4.5 - 5.2%

https://www.bankofcanada.ca/core-fun...rate/#schedule

Depending on when you mean in spring it could be 4 to 6 more rate announcements between now and then so I'd guess the max you'd see it drop is 1.5% from now but it could be as little as .75%.

I renew no later than Oct 27th which means I have 8 announcements left (there's one on Oct 29th so maybe I'm lucky and that change is priced in but I doubt it).

Check out this listing, 3 million in Fraser heights

https://www.realtor.ca/real-estate/2...-street-surrey

The original home burnt down a few years ago and it finally got rebuilt into this thing. Have a few friends who live nearby.

So are those beams actually for support or looks? Buddy Guy special? The basement looks pretty buddy guy special.

We have to renew our mortgage in early January 2025. Our current mortage is a blended rate of 5.11% that expires in December. Between now and then, there is one more rate annoucement. We are still not sure what we are going to do, but we have some time yet to figure it out.

3 mill to live in this neighbourhood?!?!? Fuck that

While it's in the nice part of North Surrey, the land size and the house ain't good enough to command $3M.. I'd say more $2.5-2.7M. Although the 9bedrooms can appeal to the multi-generation folks

You can have brand new Burnaby with laneway for less money, you can slum Lord more.

https://www.realtor.ca/real-estate/2...avenue-burnaby

8 bedrooms.

No one in their right mind would choose that house over any other house at that price point unless you were moving in 10+ people.

$3m?! must come with the porsche in the drive way too :troll:

is it common for them not to put the pic of the outside of the house as the front page/1st pic or is this lazy realting? i had to open a pic link and scroll all the way down to see what the house actually looks like which seems silly to me from a marketing stand point.

and if i had to vote i'd say those are not structural beams but for show, but i'm no structural engineer or carpenter

I thought this was a 3m house in Fraserview and thinking to myself, sure I guess if you really want to live in East Van...

But Fraser Heights???

I wonder who the target buyers are? Buddy guys must be eating good working at Walmart and Amazon to buy $3m Surrey mansions

Isn't Fraser Heights a lotta asian families?
That and South Surrey are the nice parts

A bit older but at a casual glance this place looks way more baller for the nearly $3M range.

https://www.realtor.ca/real-estate/2...avenue-burnaby

I just did this for shits and giggles. $3m house. 20% down = $600000. Property transfer tax alone is $68000. To qualify $2400000 at 4.5% over 30y you need $450000 annual income. Monthly payment is $12160 :accepted: