[tvp2003]

Originally Posted by Firebot

And Canadians sure took advantage of those comments and borrowed borrowed borrowed.

https://www.cmhc-schl.gc.ca/en/blog/...-mortgage-debt

The bill is coming and it's not pretty.

Are there stats as to how many took variable rate mortgages versus fixed rate?

I have to say, there ought to be a mandatory course out there for people to figure out how mortgage rates are calculated, how they fluctuate, what an IRD is, the actul difference between insured and conventional mortgages, etc. I sure would have benefitted from something like that -- it's the biggest decision most people will ever make in terms of actual dollars coming out of their pocket.

EDIT: I see MillerTime posted some stats above -- if you're a first time homeowner (and don't have any equity elsewhere), that 48% figure IS staggering