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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (7297)	6/1/2004 12:55:16 AM
From: Cogito Ergo Sum	Respond to of 116555

Funny when I bought my first house in Toronto in 1987 (during the last boom) I was High Ratio (only 10% down) and had to be insured with CMHC (the guys espousing NO MONEY DOWN mortgages now).... Anyway that first mortgage was @ 10.5% for 3 years Principle Interest and taxes (since I was high ratio taxes needed to be included).. Next mortgage was @ 12.25 for two years (Taxes not in) .. After that I was variable... difference was those were the cowboy days for us software types and I was getting raises every three months... or changing jobs..