Canada <> US

They exist, although my impression is the terms are more variable than they are in Canada.

A standard US-focused primer on the subject: Adjustable-Rate Mortgage (ARM): What It Is and Different Types

I have a 7/1 ARM. The rate is locked in for 7 years (a ludicrous 1.875%) and on year 8 it can go up. Various terms might lock the maximum rate you can receive, or the amount of annual increase you can have, or both. I think mine might cap out at 6.875% as the max possible.

It’s not expected that you re-fi this, though one might. Say you’re pinned at a higher interest rate but it suddenly drops and you expect it to start climbing again. Even though you briefly get that lower rate you might re-fi to a standard 15 or 30-year that will have the same rate and payments throughout. (or another ARM even).

ARMs often have lower initial interest rates. When I got my 1.875%, I want to say the 15-year rates were around 2.5%. (It was that tumultuous mid-2020 period, everything was weird.)

What’s the term of the lease? And what if oil is found underneath the ground, do they own that? I think there’s something to be said for the American version of you own it outright, but agree in practice it doesn’t impact them.

I see so you’re paying off the house over a similar period to a US person but the bank doesn’t allow you to cede the interest rate risk… to the bank… which exists to bear interest rate risk

J2 keeps getting calls from her mortgage holder to refi. Probably bc she has a ridiculous rate compared to currently. Her response, obviously: :pinched_fingers:.

There are definitely variable rate mortgages in the US, but I think fixed is more common

I’m not super familiar with the laws on land ownership, but fairly sure you own the oil/gold/etc. that might be on your land. I’m sure there are complicated laws that can screw you out of things in certain situations, with >50 states/jurisdictions on top of federal law. Like there might be something similar to eminent domain in some cases (where the government pays you a “fair amount” for your land and you get no choice.)

Companies will sometimes pay top dollar if your property is dividing a large area of mineral rights that they want to extract.

As others have said, we definitely have adjustable rate options. But I’m not aware of mortgages in the US that have variable amortization periods. Admittedly I’m not in the loop there, I’ve only ever gotten fixed mortgages, is this a thing you can get in the US? It does kind of make sense that if rates go up you might want a longer term to keep the monthly payment a bit flatter.

I’ve only heard of a concept similar to this with recasting in the US.

I did that once with US Bank, we did a refi and wanted to keep the same end date so they wrote us something like a 27 year loan or whatever. ‘Recasting’ is what they called it, first time I’d heard that term.

Yes. Modi is a dangerous man but no one else will challenge him because of his geopolitical importance.

Trudeau already has a terrible rapport with Modi and the India-Canada trade relationship is strained: Trudeau also needs to challenge Modi because he was seen to be too quiet on Chinese interference in our elections. Less reason for the US to criticize India.

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I’m wondering if this is a way to help the student housing crisis, ie intentionally strain relations with India to discourage folks from coming here for school.

In the UK the situation is a bit different.

India wants lots of visas for the UK, and the PM (Sunak) is onboard but the electorate would anhilate him if he agreed to it (and he knows this).

So they are boosting immigration via the backdoor (by diluting income requirements for non-EU migration so its quite easy to get a visa now from India).

So UK will do nothing to annoy Modi right now.

This will all likely be gone once the Tories are ejected from power in 2024 (as Starmer will clamp down on India inmigration link), so I could see Starmer combining with Trudeau and Biden to make Modi’s life a lot harder.

Modi really does have it coming. Nasty individual really.

We have the same issue in the UK

We have a mass of Indian & Chinese students coming in now which is creating housing problems.

Modi is a horrible person but the West ignores his increasingly authoritarian, intolerant ways.

The West doesn’t want to encourage him to form closer ties to Russia and China.

A primer on mortgages in Canada: The types of mortgage in Canada you can choose from | Canadian Mortgage Professional

Yes, we will always support scoundrels provided they are the enemies of our enemies.


I still can’t understand why we can’t just blacklist Saudi Arabia. This notion that we’re going to provide protection to them so they become friends with Israel? Have we forgotten 9/11 already??

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