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Tuesday, July 5th, 2022

Advice for Single Homebuyers

Advice for Single Homebuyers More than a third of first-time homebuyers in Canada are single. If you’re thinking of joining this group, here’s what you need to do and know before jumping into homeownership. Study the market. Identify neighbourhoods you want to live in and check to see how much properties in that area are […]

Canadians saving more, but are they making the most of their savings? – Ask a Vancouver Mortgage Broker

Recent data indicate that Canadians are saving more. Statistics Canada reports that the Household Savings Rate is currently 5.4%, a 0.4% increase from the previous year. Likewise, a recent BMO Bank of Montreal study found that 48% of Canadians are now investing in Tax-Free Savings Accounts (TFSAs), a 23% increase from 2012. It’s good that […]

What’s the best way to save for a house: RRSPs or TFSAs?

Add RRSPs versus TFSAs to the list of decisions you have to make as a prospective home buyer. Some serious saving is going to be required to meet the minimum 5-per-cent down payment for buying a home, not to mention the 20-per-cent threshold for avoiding costly mortgage default insurance. Two ideal vehicles for saving are […]