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Equitable Bank unveils 40-year amortization mortgage (ON, BC, AB)
(www.canadianmortgagetrends.com)
Come and discuss anything related to personal finance, directly or indirectly, with other Canadians!
Why did you increase the interest rate to 9% for your 40 year calculation?
Edit: oh, in the article it says they expect rates to be in the 9% range.
I agree with the other commenter. With the higher rate and no benefit of the longer amortization period, this is insane. Doesn't do anything to help people trying to afford a mortgage.