TFSA or RRSP? Here’s how to decide – Consult with a Vancouver Mortgage Broker

NOREEN RASBACH-  The Globe and Mail Kuly Gill is every financial planner’s dream. The Calgary lawyer, in his 30s, owns a house, drives an older car and forgoes some annual vacations to save more for retirement. “I live cheap and put everything away,” he says. His investment strategy is simple: Contribute the full amount allowed […]

Three pitfalls to consider before helping your kids buy a home – Consult with a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail In an increasingly unaffordable housing market, it’s natural for parents to want to help their kids buy a home. Talk to a real estate agent or mortgage broker and you’re bound to hear stories about parental financial help. “The bottom line is that when a first-time home buyer buys a […]

Demand for luxury homes still strong in Canada, real estate company says – Ask a Vancouver Mortgage Broker

The luxury end of the Canadian housing market shows no signs of slowing down, at least according to one real estate company. Re/Max surveyed 16 Canadian markets and found sales of what it calls “upper end homes” higher in 75% of those markets. Vancouver, the priciest market in the country, saw an increase of 36% […]

How to make Canada’s low inflation work for your money – Ask a Vancouver Mortgage Broker

ROB CARRICK–  The Globe and Mail The economic situation today is as good as it gets for your household finances. Inflation’s low at just a bit above 1 per cent and wage increases average about 2 per cent. “Statistically speaking, we’re doing better,” said Benjamin Tal, deputy chief economist at CIBC World Markets. “But don’t […]

For young people, debt might come before RRSPs – Ask a Vancouver Mortgage Broker

Resolving to “get healthy” is a decent plan. However, setting a goal of biking to work and cutting out your afternoon peppermint mocha and chocolate cookie is an even more effective plan. How to practice ‘sustainable spending’ in retirement so you don’t run out of money Congrats! You’ve grown your nest egg to a size […]

Is using your RRSP to buy a house passé? – Ask a Vancouver Mortgage Broker

The $25,000 Ottawa allows you take out of your retirement fund to buy your first home sure doesn’t go as far as it used to. Under the home buyers’ plan, Canadians can take $25,000 out of their registered retirement savings plan and pay it back over the next 15 years without incurring any penalty. For […]

Recent changes in Canadian mortgage rates – Consult with a Vancouver Mortgage Broker

BoC Decision: Pleasantville for Variable Mortgagors – Consult with a Vancouver Mortgage Broker

Today’s Bank of Canada (BoC) interest rate decision was reassuring for variable-rate borrowers. The Bank announced that Canada’s key lending rate will remain just 75 basis points above its all-time low. The Bank suggested its next move is just as likely to be a rate cut as a rate hike. It said the risk of falling inflation “has grown in importance” […]

Five Canadian mortgage market predictions for 2014 – Consult with a Vancouver Mortgage Broker

ROBERT MCLISTER–  Special to The Globe and Mail 1. New mortgage rules Expect more rule tightening in 2014 designed to reduce mortgage risk for lenders, mortgage default insurers and the government. By definition, those rules will make it slightly harder to get approved for some mortgages and further slow the housing market. 2. Credit unions will steal […]

How factory-built homes are shedding their ‘cheap’ label and exploding in popularity

After more than three decades in her Toronto bungalow amid growing mildew problems in the 1940s-era home, Ruth Wiens decided it was to start fresh. Here we go again with dropping mortgage rates Falling bonds yields could push mortgage rates lower as banks compete in the spring housing market, the strongest real estate period of […]

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