[NefCanuck]

Wow, small world (my office is less than a kilometre away from there)

The place has really suffered for being built before the government put solid rules in place regarding reserve fund studies and the like :ph34r:

Dunno what the parents first mortgage % was in '71 when my parents bought their place, I'll ask because I'm a curious sort ;)

NefCanuck

ZTWsquared,Jul 21 2007, 08:47 AM Wrote:Yup ... my current mortgage is 4.85% which was for a 5 year term and we'll be done with it before the term is up (the beauty of doubling-up and 15% every year).

But I can still remember like it was yesterday my very first home (just around the corner from you Daniel -- condo at 3100 Kirwin) and the mortgage when I bought in '76 was bad enough at 10% ... but the renewal in '81 was almost 19% and we were forced to sell.

Luckily we found a cash buyer so we didn't do too badly,  but I knew dozens of people back then that were forced out of home-ownership because their payments more than doubled.

My parent's first mortgage in 1952 was just over 5% ... so everything considered I think we've all done pretty good the past 7 or 8 years.

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