The Economy sucks- give me a better rate \ stacker news ~econ

pull down to refresh

The Economy sucks- give me a better rate

1033 sats \ 20 comments \ @grayruby 7h econ

I have to renew my mortgage and I didn't like the rates they offered on the loan renewal document so I decided to contact the "mortgage specialist" (whatever that is) and negotiate for a better rate.

My argument is essentially the Canadian economy sucks so the Bank of Canada will be forced to further lower rates over the coming months and I want to benefit from Canada's misery.

Besides, I am a good, loyal customer that never misses a payment and all that other good stuff.

The mortgage specialist unfortunately cannot authorize a lower rate (what the hell is the point of being a specialist if you can't do special things?) so they have passed my file on to their boss for review. I am really hoping the bosses' title is Mortgage Extraspecialist.

Fingers crossed. Lower mortgage payment= more sats.

Sats for all, GR

view all related items

40 sats \ 5 replies \ @Undisciplined 6h

Good luck, Can you refinance mortgages in Canada?

42 sats \ 4 replies \ @grayruby OP 6h

Yes but there are usually penalties/fees associated with it. If I don't get what I want I will just renew for a year and if rates drop further as I expect I will get a better rate next year.

61 sats \ 3 replies \ @optimism 3h

There is an art to making deals go agonizingly slow and grind them to near-halting. Good job on asking for the manager.

121 sats \ 2 replies \ @grayruby OP 3h

Haha I am the Canadian Karen.

20 sats \ 0 replies \ @Undisciplined 3h

We have your new intro nickname!

20 sats \ 0 replies \ @SimpleStacker 3h

If the manager can't do it you should write a letter to Mark Carney himself. He has a background in finance, surely he can get to the bottom of this.

40 sats \ 2 replies \ @SimpleStacker 6h

How low are you looking to go?

45 sats \ 1 reply \ @grayruby OP 6h

0%. Just kidding. I would be happy if they took 25 basis points off the current offered rate.

50 sats \ 0 replies \ @BlokchainB 6h

Gotta have goals!

40 sats \ 1 reply \ @BlokchainB 6h

Move to the US where the 30 year fixed can grant you golden handcuffs.

50 sats \ 0 replies \ @grayruby OP 4h

I will move to Texas and fly a Canadian flag and a 49ers flag outside my house. I am sure everyone will love me.

20 sats \ 1 reply \ @gnilma 3h

Good luck! How many years you looking to sign?

21 sats \ 0 replies \ @grayruby OP 3h

Depends on the rate I get. If it is good I will sign for 5.

40 sats \ 3 replies \ @Signal312 4h

Could you wait till they lower rates?

0 sats \ 2 replies \ @grayruby OP 4h

I could but if you don't renew they just roll it over month to month at a very high rate. For a month or two it's not a big deal but can't do that for too long will be paying hundreds more a month.

40 sats \ 1 reply \ @Signal312 3h

I guess you'd be taking a calculated risk...just how many months will it take till they lower rates?

0 sats \ 0 replies \ @grayruby OP 3h

I think they will lower this month. Not sure when the next one will be after that.

40 sats \ 1 reply \ @cryotosensei 4h

Seems like people have fancy job titles without the autonomy everywhere in the world haha