To Buy or not to Buy, that’s a Pretty Big Question (part 2) for first time buyers

To Buy or not to Buy, that’s a Pretty Big Question (part 2) This is part 2 of a 2 part series on down-payments for first time buyers. BMO Capital Markets deputy chief economist, Doug Porter estimates that to save a 5% down-payment (as mentioned in part 1 of the article) and have access to […]

How to Take Advantage of Readvanceable Mortgages

How to Take Advantage of Readvanceable Mortgages Back in the year 1999, Warner Bros. released a motion picture called, “The Matrix”. The film proceeded to meet critical acclaim for being innovative and forward thinking. It was a game changer as far as filming style was concerned. If you’ll bear with me for a minute, there […]

Once again: Pay down your debts before rates rise

ROB CARRICK | Columnist profile | E-mail From Wednesday’s Globe and Mail The decade’s most ignorable piece of financial advice: Pay down your debts before interest rates rise. You’ve heard this warning a hundred times, you ignored it and rates held steady at historic lows. Now, the Bank of Canada is signalling that borrowing costs could rise if economic […]

Don’t take an RRSP loan, unless…

Maxing out your RRSP is a smart move, but for most people an RRSP loan isn’t the way to do it. Despite promises of stellar long-term growth and the dangling carrot of big, fat refunds, people are finally figuring out that the only beneficiary of an RRSP loan is the lender, unless… 1. You’re in […]

2 Out of 3 Don’t Shop at Renewal

Every now and then we see a mortgage stat that’s a jaw-dropper. This finding from Manulife Bank is one of them. It suggests there are a lot more people with money to burn than one might expect. Manulife recently surveyed 1,000 Canadian homeowners between the ages of 30 to 59. Among respondents with a mortgage, two-thirds (65%) did not […]

Should you tackle your small or large debts first?

KATHERINE SCARROW Globe and Mail Update When it comes to tackling debt, logic isn’t always at the forefront of our decision-making. According to a new research study, consumers routinely mismanage multiple debts, paying off small debts first even when larger debts have higher interest rates. “People want to wipe the books clean,” says Scott Rick […]

Canadian banks envy of the world

MONTREAL – What’s wrong with this picture? Banks in the U.S. and Europe are struggling to adjust to new rules that limit their speculative trading and boost their capital requirements. They’re bracing for a big hit in credit markets if the European debt crisis gets any worse. But here in Canada, life is great. If […]

Five year-end tax tips to save you money next spring

With just a few weeks to go until the curtain falls on 2011, you still have time to squeeze in some year-end tax planning between those trips to the mall and the holiday parties. Time spent doing some planning before Dec. 31 can reap huge rewards come next April. Here are five things to consider: […]

5 reasons why a fixed-rate mortgage could be your best bet

It’s a decision that millions of Canadian homeowners struggle with repeatedly during their time as homeowners: Do they choose the security of a fixed-rate mortgage, or opt for the flexibility (and usually lower cost) of a variable rate and hope that rates don’t spike higher? But right now, conditions in the mortgage market mean homeowners […]

Global Economic Uncertainty Will Keep Canada’s Growth Moderate in 2012: RBC Economics

Central banks expected to keep interest rates low and maintain liquidity Canada’s net debt to GDP ratio the lowest among the G-7 Scope of European economic crisis widens – Europe expected to slip into recession TORONTO, December 6, 2011— After a turbulent year, Canada’s economy is set to grow by 2.5 per cent in 2012, […]

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