Image of the day: "No Megatowers at Safeway! Yes to Affordable Housing!"
In front of a $2.2M house
How unaffordable is a $2.2M house?
If you have a down payment of $440,000, the mortgage is $1.75M. At RBC’s current 5-year fixed rate of 5.174%, the monthly mortgage payment would be $10,400, requiring an annual household income of $415,000 to be affordable.