Rocket Mortgage to trim 8% of workforce as home-loan market shrinks

Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by francisofascii on Thursday April 28, 2022 @07:43AM (#31191348)

Isn't that because Canada has much lower property taxes than the US? So you have the same effect that you see in California, where low taxes drive up prices.

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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by refurb on Thursday April 28, 2022 @09:04AM (#31191962)

I don't think spending $6,000 less in property taxes each would justify a $500,000 increase in price.

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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by fpo on Thursday April 28, 2022 @09:21AM (#31192119)

The math gets trickier when you consider monthly payments. At very low interest rates an extra 500k borrowed might only increase monthly payment by ~1500 which can be partially offset by $500-1000 less in property taxes per month depending on the municipality in Canada compared to US.

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