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A 47-year mortgage? They're out there — and even longer ones could be coming (www.cbc.ca)
submitted 2 years ago by to c/canada@lemmy.ca
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About one out of every five home loans at three big Canadian banks are now negatively amortizing, which happens when years get added to the payment term of the original loan because the monthly payments are no longer enough to cover anything but the interest.

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[–] 1 point 2 years ago

Rent can go up 10-15% in the same amount of time as that fixed mortgage. If there's no rent control, it can go up much more than that.

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