Quote:
Originally Posted by DoubleF
The stat was for 2021. I was thinking the same thing at first. Someone taking a variable rate in 2021 doesn't seem out of the ordinary IMO. We didn't get hints of rate hikes until very late 2021 and early 2022. Anyone who took a variable rate any time in 2022 while maxing out their leverage is a complete buffoon though.
Someone in 2021 with a variable rate mortgage should be relatively OK though, even if they're annoyed. Enough down payment float and they bought at the lowest vs the 2022 housing FOMO spike.
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Did 'we' really think in 2021 that there weren't going to be any economic repurcussions? I don't think you needed an iota of financial acumen to recognize that status quo wasn't a very likely outcome.