/biz/ - Business & Finance

>>55049166
that's mighty racists doing this to all the pajeets and chinks, is it not?

They will just do it as the burgers, increase rates for whites and decrease for browns

>>55049166
Someone please explain how banks can just adjust mortgages are will? As a europoor I sign a contract with my bank and the rate I sign for is the one I will have until the loan is paid off.

>>55049383
Here in Canada the rates “renew” after a period (of usually) 5 years. So people who got in at a good rate before the pandemic are coming up for renewal at a higher interest rate.

On top of that there is rampant mortgage fraud here, where people are getting mortgages based on false documentation. They call them “Brampton mortgages” because that’s where all the jeets live and they of course are running these scams

>>55049383
Then you better read that contract again, there is a difference between contract length and fixed rate length

Fixed rate lengths in europoor are typical 10-20 years from what ive seen until now, if your contract runs longer, you will get a new rate after the defined fixed rate time

>>55049441
>On top of that there is rampant mortgage fraud here, where people are getting mortgages based on false documentation. They call them “Brampton mortgages” because that’s where all the jeets live and they of course are running these scams

>>55049383
you are probably french or german
in eastern europe rates are variables dumbfuck
kys niggerlover

>>55049166
>ARMs
>We'll just charge you whatever the fuck we want
Kikenadian nanksters

>>55049166
Two people at my work as anecdotes.
First is now paying $1700 more *a month*.
Second is paying $2300 more a month. More if rates rise again.
Canada is a pyramid scheme.
Trudeau took one action after rates rose: higher immigration rates.

>>55050213
Obviously they had variable rate mortgages, and *failed* to ever lock in a lower rate (regardless of how long the term is). This is not Turdeau's fault. It's the fault of ignorant, stupid Canadians. Thinking they *DESERVE* a home, regardless of how stupidly out of their affordability it is.
Get your shit together, and learn that speculators will always get fucked. Most recent Canadian homeowners are speculators, with 5% fucking downpayment
t. Brother is currently looking to buy, with 5% down...

>>55050519
I fucking hate Canada, but Canadians, not Indian or Chinese """Canadians""" deserve a home. Even the First Nations, or whatever you fags call them, deserve a home.

>>55050558
Well, yeah. Those people don't even fucking belong here. But buying a home with 5% down, not bothering to worry about future prices (of your mortgage, or your homes value), and basically treating it like an impulse buy. Is how we end up in real estate bubbles.
I have zero remorse for the people who lose their life savings, buying homes they KNOW they cannot afford.

Jeets are unbelievable. They take out a fraudulent mortgage and live in the master bedroom while setting up a rental barrack in every other room, collecting rent from 8-12 jeets all living in the same house and shitting down the kitchen sink.

My mortgage went from $950 to $1150, I'll be hiking my rentoid's payments naturally ;)

>>55049166

doesn't mean anything. housing market to the moon.

>>55049383
There are no 30 year fixed mortgages in Canada. Best you can get in this shithole is 5 year fixed terms. There are also penalties for being a bad goy and paying earlier. Oh and interest payments are not tax deductible like they are in the US.

>>55050751
most buildings in ontario are limited to 2% increases
t. living in an apartment for 8 years where rent went from 1400 to 1600/month but in the current market would rent for 2200/month

Bought a house 5 years ago to the day tomorrow, took it out on a 15 year mortgage and I have to renew tomorrow, put don like a 30% down payment and have paid my max allowable of 10% over and above payments every year. Going in tomorrow to pay it off instead of renew seeing as I can pay it off instead of renewing without penalty. Fucking feels good

>>55050961
There are banks that offer 10 year fixed rate, but you have to lock in at ~2% above prime.

>>55051023
Their suite has gone from one bedroom to two, I got a dishwasher retrofitted in the kitchen, and the rent hike won't kick in until December.

>>55051148
oh nice you got em with the renovation rent increase

>>55049303
Only for white people

>>55049508
why are people such cucks?

>>55049508
Wait till he finds out about the outdoor shitting.

>>55049508
>doesnt call the city on stinky neighbors everyday
>isnt aware of bylaws and how to use them to get noncompliance people evicted or forced to sell.

>>55049693
sensitive boy

>>55049508
>which is fine

>>55052052
>Ends up on the news as "white nationalist sentenced for repeated fake calls about minority neighbours".
About a decade ago I lived in a shitty flat with literal poos, they threw their diaper filled poopoo trashbags out all days of the week in old shopping bags despite the city only allowing it in designated community bags on monday evenings - the police came to my door to harass me to remove it at risk of a 3k fine. When I told them it was full of diapers and the only family with a baby in my building was the poos, they sent trashmen out the next day to collect it. Obviously they never got a fine, and I got a warning for not cooperating with police.

>>55050961
What sort of penalties are there for paying early?

>>55052499
depends but it will be some sort of percentage on either the whole borrowed amount or the amount left over, dunno. I am assuming most people never have the money to buy out their mortgage and penalties anyways

>>55049166
You can't tell me Canadians don't deserve it. They did this to themselves.

>>55052678
I mean, I guess there would be cases where, when rates go up too much, some guy gets a loan from his doctor dad to just pay it off or something.

>>55051053
And then you couldn't buy because everyone else is bidding based on the 5 year rate.

>>55049166
In other words, rents will be going up 40%+

>>55054256
If the market can support 40% higher why leave it on the table?
You don't understand how prices are set. It's not just "landlord cost plus X% profit", that's how children think.

All these faggots blaming pajeets lmao. You honkies deserve it, you were okay with the gains of empire but not the cost. Typical "socialize the losses, privatize the gain" type honky thinking. Fucking idiots.

>>55052171
>and I got a warning for not cooperating with police.
For not cleaning up the shit of somebody else's poojeet maggot?
That's ridiculous

>>55054256
this assumes most rental properties are owned by plebs taking out personal variable-rate 5 year mortgages

>>55049693
EE here and rates are 1/3/5/10/20 years
The 20y fixed is now a scam, and actually lower apr than short term fixations.
No one wants to get locked at 4,3% for 20 years when rates were 1% a mere year ago

>>55049441
Redpill on jeet mortgage? Here you need anal inspection and blood oath on Talmud if you want a mortgage

>>55055257
>Redpill on jeet mortgage?
In leafland we don't check income with the tax forms

> pajeets are all making 100k+ on mortgage applications
> in reality they are making minimum wage
> this worked when housing was going up
> now with higher interest rates they can't afford higher payments (they never could in the first place)
> now pajeets rent out rooms in their houses so there are 10 people in a 3 bedroom

>>55049508
> which is fine, I'm not racist
> not a financial advice
> safe and effective

lmao your mandatory lines fucking westoids

>>55049441

Are jeets just the scammer race? Like jews but alot dumber?

>>55049303
Actually desu since Indians generally tend to prefer living in multigenerational homes with well over 10 people, it gives them a very large cultural edge.
And it's enabled them as a community to pretty much crush it here economically speaking.
It's actually interesting to observe the base level shift as well. Like take things like pizza shops, sandwich stores and such; they all adapt their menu in a hybrid western-indian fusion. Like butter chicken pizza, paneer masala pizza, paneer sandwiches, noodle burgers(this one is a bit strange but I get the vegetarian thing).
It's kinda like how before the west took italian and chinese food and make their own version of it. This is like the third iteration of that where the non-traditional foods that got westernized are swinging towards a new influence.
There are a ton of cute hard working and sweet Indian girls though for sure. Very flirty and nice to talk to, but not easy to do much more than that considering they all seem to get married at around 20 or so. Even a lot of the older ones stay chatty and flirty.

>>55055415
I live in Brampton btw

>>55055415
Indian women never look good. There's always something off, and it's not just the smell.

>>55055455
I think that is mainly the crushed garlic and ginger that goes into a lot of the food(which is pretty good if you're into it).
Maybe you just don't have the sample size like we do here. The city I mentioned there above that I moved to last year has been estimated conservatively at something like 2/3rds Indian(or Desi or whatever...really since it's a lot of illegal apartments in houses I honestly wouldn't be surprised if it was much higher but who knows) and that's hundreds of thousands of people.There are definitely cute girls. But they're all so much more family oriented it seems.
Although it's not like white guys don't date Indian girls. It happens. It's just kinda rare.

>>55055415
Holy shit shut the fuck up rajeesh

>>55056348
I'm a white Canadian.

>>55052777
Checked, however it was the boomers who did it first.

>>55049508
>Which is fine
Based poopjeets mogging sensitive Canadian sniffers

Seriously Canadians deserve everything coming to them

>>55056622
why did you move to brampton if you're white? i thought all the white people were leaving and moving to places like bowmanville and newmarket

>>55055306
does the bear shit in the woods?

>>55055455
i see what you mean. some of them are kind of skinny fat and have disproportionate noses. some white guys seem to like that though cuz i see white guys with indian girls like that alot. But I guess nowadays anything is better than dealing with a white "woman"

>>55057808
Ha, I do know people who did just move out to the Newmarket area not too long ago too.
For me I lived in Mississauga and it was just convienent. I wasn't and still am not really planning on staying here, but I don't know whether to just gtfo the country again for a while or go to Calgary or something.
There's not really a lot of great options afaik. Not a fan of the GTA at all really. Brampton is not great, but it's not as bad as it's reputation as long as you are into Indian food and such.
Drivers are nuts though for sure.

>>55049383
No you don't, there are no fixed rate 30 year mortgages outside of the USA. At most your rate is fixed for 5 years.

>>55054704
That's what it's like living in a diverse area in Belgium. As a native I'd get a 3k fine, as a poo you get it cleaned up for you no questions asked.

>>55058056
I have a 25 year fixed rate in Western-Europe.

>>55049166
Do leafs even still own a house?

>>55050519
>asshole speculator
>projects and rages about strawmen
typical monkey

>>55055433
>Brampton

Dude, get out while you can, from the sounds of it you've been Stockholm syndromed into thinking "it's okay". I can assure you it's definitely not "okay".

Go on youtube and look up 90's Brampton, literal day and night comparison.