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That's why the banks now make you qualify for a 5% mortgage rate even if the rate is less than 3%.... All it takes is a minor fluctuation in Prime
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11-27-2014, 02:08 PM
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A True Z Fanatic
Join Date: Sep 2009
Location: Mod Capital of Canada
Age: 59
Posts: 7,354
Drives: cars. lots of cars.
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That's why the banks now make you qualify for a 5% mortgage rate even if the rate is less than 3%.... All it takes is a minor fluctuation in Prime to make people unable to pay their mortgages.
Too many people living wayyyy beyond their means. PS: Congrats on paying off the Z Mitch!
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