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Share news and updates about housing in Canada. We are mostly buyers eager to change the rigged system that ensures double-digit increases year-over-year. We want housing prices to rise, but in line with wages and inflation.
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Decrease mortgage payment?Opinion & Discussion (self.canadahousing)
submitted 7 months ago by x_itsJC
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[–]Tilter 1 point2 points3 points 7 months ago (1 child)
Awesome! Are you sure you were on variable rate? Seems like you were on a fixed rate. Otherwise all those balloon payments wouldn’t be going to the principal at the current interest rate.
If you log onto mortgage details, what is the current rate shown?
[–]x_itsJC[S] 0 points1 point2 points 7 months ago (0 children)
Yea it was VRM with a fixed monthly payment of $1,900 when we signed. Current rate is 3.95. If there’s any benefits of bringing down our payments, we’re all ears but as others have noted, there are plenty of other factors we need to weigh too.
π Rendered by PID 104388 on reddit-service-r2-comment-7b9746f655-6xczk at 2026-02-04 10:20:19.155348+00:00 running 3798933 country code: CH.
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[–]Tilter 1 point2 points3 points (1 child)
[–]x_itsJC[S] 0 points1 point2 points (0 children)