About one out of every five home loans at three big Canadian banks are now negatively amortizing, which happens when years get added to the payment term of the original loan because the monthly payments are no longer enough to cover anything but the interest.

    • Dkarma@lemmy.world
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      1 year ago

      An arm is an adjustable rate mortgage.
      You want fixed.

      You’re in Canada I think we are talking past each other