David Baskin
DavidBaskinBWM
Interest rates of 2% on $1 million = $20k/year. It is not very hard to imagine mortgage rates of 4% with the five year re-set on the typical CDN fixed
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In 1982 I worked in the bad loans department of $BMO.CA. This was in the wake of the ultra-high interest rate war on inflation, when prime got up to 22.5%.
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