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this post was submitted on 02 Oct 2024
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Do you? Or do you start owning it after paying off the mortgage?
At least you can't get kicked out or have your rent raised for arbitrary reasons. Some renters are basically moving every year.
Mortgages can change repayments amounts as the central lending rate changes.
We’re in a squeeze in Canada right now because rates went up and a bunch of mortgages are up for renewal. (5-year fixed rate is standard here)
Not in the US if you have a fixed rate mortgage, and most do. There's tons of people who locked in rates at below 3% back in 2020-2021.