ST Alpha - "(remember in canada you can't lock for 30 like we can here.) -- nm" (Reading a Post)

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In response to "Well, I think the argument there is we are locking into 30 years at whatever the rate is now -- nm" by oblique

(remember in canada you can't lock for 30 like we can here.) -- nm

Posted by amanda jeans (aka amanda) Mar 3 '22, 12:11

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Responses:

Even then, you'd have to expect sustained double digit interest rates to make a huge deposit more attractive than investments. - Max Mar 3, 12:16 3
- I think most money dudes assume 7% return in market these days. (note that I am not a money dude.) -- nm - amanda jeans Mar 3, 12:19 2
  - Investing in diversified stocks over the long term, that sounds about right. -- (edited) - znufrii Mar 3, 12:35 1
    - pork bellies -- nm - decline Mar 3, 12:36
and we also can't deduct mortgage interest on our taxes -- nm - Beaker Mar 3, 12:13 8
- so true - our interest rates are much lower though for mortgages. We pay 2.19% but are only locked for 5 years. -- nm - Andie Mar 3, 12:15 3
  - I'm just under 2.7% (13 years left on a 15). people were getting 2% on 15s when I refied but I couldn't get funded at 2% beacuse - amanda jeans Mar 3, 12:18 1
    - nice! -- nm - Andie Mar 3, 12:25
  - you get healthcare and unlimited poutine! -- nm - ty97 Mar 3, 12:16
- I'm not sure if you can still deduct mortgage interest AND state/local taxes here or if you have to choose one vs the other. -- nm - ty97 Mar 3, 12:14 2
  - I think it's a combined maximum of $10k/year. It doesn't go very far. -- nm - pmb Mar 3, 12:23 1
    - I wasn't sure if you could combine or had to choose either/or but yeah I know it doesn't go far -- nm - ty97 Mar 3, 12:26
- for smaller mortgages, we can't either anymore. -- nm - amanda jeans Mar 3, 12:14

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