I contacted my guy at TD to start the renewal talk (due this month) just over 2 months ago and at the time was already offered 5 year @ 3.89 with a rate lock of 90 days. Will be signing docs in a couple weeks doubt it has gone any lower but all things considered 3.89 was a decent outcome.

Mines coming for renewals well. Current prognosis seems to think we will get another rate cut or two by end of the year. Anyone hearing any different?

Yes there'll probably be more rate cuts but keep in mind that fixed rates don't follow rate cuts. It's on variable which is floating around 4.5% right now so unless there's some big cuts coming variable will be above the best fixed rates this year.

3.89 on a 5 year variable?

If you can get the same rate on 3 or 5, why would you go 5?

My conclusion from following the news is -- things are so uncertain at the moment with all the stupid Trump threats and tariff deadline (July 21 for us) that it is impossible for BoC to tell how they should react. And bcos things always operate on a whim with Trump, all medium term forecasts on the economy is pretty much meaningless.

^ that just mean shits gonna hit the fan and our economy is gonna get worse = massive unemployment = Rate cut. As much as Carney is a smart man, rest of Canada isn't, and we still drag our feet. When we selling oil to China? They still be like China bad, India bad, Russian bad, but Ukraine, Israel #1. Make natives great again.

I don't think the uncertainty necessarily mean shxt is gonna hit the fan. IMO, uncertainty just means uncertainty. If Carney and his trade team can secure a trade deal with the US, then a lot of that uncertainty would clear itself up. If we can somehow talk Trump into doing a relatively good deal, then things should look generally optimistic. If we can only secure a mediocre deal, then at least the trade uncertainty would be gone, and BoC would have some better evidence to help us steer our ship.

And if we can't come to an agreement with the US, then things are probably gonna be pretty rough. But again, at least the uncertainty will be gone.

The market and economic strategies hate uncertainty, and unfortunately, we will probably remain stuck in this limbo for another 2 weeks.

5 year fixed. I haven't even asked about 3 LUL

Yea figured fixed the way you were saying it. That’s pretty good

I’d probably hop on that if I was up for renewal

You really think Trump is gonna keep his word for the next 3 years, and not extend it, or add some milk tariffs, cheese tax or Mexican immigration tariff. :accepted:

So that house I previously audited… of course didn’t sell lol.. either unit.

And now, presumably either inspectors of potential buyers have hired, or the builder themselves realized the garbage work isn’t helping the sale. Marked all the concrete I noted was poured and finished in the rain, the disgusting “side” entrance of just pavers added after the fact, and the pock marked/rain ruined side entrance. All to be torn out

Try to pass shit work off and even ignorant buyers catch on. What’s the framing look like?

https://i.imgur.com/tAXsYCI.jpeg

https://i.imgur.com/NWe0f18.jpeg

https://i.imgur.com/c0GUtuQ.jpeg

https://i.imgur.com/94ujFpF.jpeg

What a fugly house.

I don't really get the math for these new duplex, they are like what $1.75 after gst. So you need a 20% min dp of $350,000. $1.4 mtg even at 30y is $6596 a month at 3.89%. you're probably like $8000 a month in after all expenses to live like a poor person and fighting for unpaved dirt street parking in the sun/ rain.

Even if you have a free and clear condo you sold to upgrade, a $1m mtg is $4711. To live in poverty. :okay:

Presumably if you're upsizing from a condo, then you're moving in with at least one other person. Split between two incomes, $2300/mo doesn't seem thaat crazy? Rent out a room (or two!) and it's starting to look pretty good! :)

$2300/month is wild. Half your pre tax income at like 80k and that doesn’t cover your home insurance and fees and taxes so let’s say $2700 a month. $2000 left for everything else like car/insurance/food/phone and you’re basically out. Add in daycare and that other shit and you’re behind.
I know that isn’t a big wage but that’s average. A duplex is an average place to live. Average income earners should be able to live an average life in a system that’s working.

Not in a tier A city.

Tier B and tier C cities yes.

Yeah good point. I guess you could say there’s nothing average about Vancouver, but that said, we still need people to make $9 coffees and teach and be paramedics etc here. Being a tier a city needs those things to remain good. Views of the mountains only go so far when you need an ambulance.

Out of curiosity, I looked on Craigslist to see what it costs to rent a 1 bedroom condo in Vancouver these days.

At Brentwood; 560 sqft; $2500/mo.

https://images.craigslist.org/00g0g_...2_1200x900.jpg

https://images.craigslist.org/00w0w_...2_1200x900.jpg

https://vancouver.craigslist.org/bnc...861098351.html

Shieeet... :heckno:

Fuck Burnaby is so goddamn dumb lol. It’s van/North van prices with absolutely none of the redeeming qualities.

butbutbut its brentwood

I can wait 10 mins for an elevator until i walk downstairs

I don't get why people would want to live in these new duplexes either. For the same money, you can get a single detached home in Delta / Tsawwassen / Coquitlam. The house is gonna be much larger, and can be as new as ~30 yrs only.

Yeah, you aren't living in Van / Richmond / Burnaby. So what? You get to live in a giant house with a proper 2 - 3 car garage instead. Total win in my book.

There’s a lot of pretentious posers in this city okay. Just look at all the douche bags who buys Porsches but lives in 400k condos in Richmond. When your lousy car is more than half the value of your lousy “house” you’re just posing.

Yeah sure they always make some excuse about how they are used to living in condos and they don’t have to do maintenance blah blah blah. How’s the ride from parkade feel when you have 10 bags of groceries and you have to wait for the elevator. Yah like that ? Feel good ?

Current priced in scenario for Canada is one rate cut towards the end of the year. BMO is the outlier in calling for 2 rate cuts in 2025; one as early as July 30, second towards end of year.

-Mark

Totally agree with that. That's why I chose South Surrey a few years back. I never understood living in Canada and you choose to be so close to your neighbour that you can chat with them during your morning coffee.

Ok... I know that I'm an introvert for sure. :alone: But still. The comfort that I can be as loud as I want without ever getting complaint from neighbour is just awesome.

I know this doesn’t apply to most of you, but there are some people that do have to commute to work. Living in a smaller more expensive place might be worth it if it means they spend less time on the road.

I grew up in Richmond and totally enjoyed the bigger houses/properties but moved to Vancouver as an adult to be closer to work. Every time I encounter a plugged-up bridge going in/out of Richmond, I’m glad I made the choice. But I wish my place was bigger!