CICA Debt Poll

CICA Determined to Become Expert in Personal Finance A study was recently commissioned by the Canadian Institute of Chartered Accountants (CICA)  to learn what Canadians do on a day-to-day basis to manage their finances. The study also wanted to  understand how much confidence Canadians have in particular financial activities.  The purpose was to determine how […]

Super Prime Mortgage

Best Mortgage Rates in BC get Better In the past, having “excellent” credit and having “good” credit didn’t make a whole lot of a difference when applying for a mortgage. But times are changing. XCEED Mortgage has launched a new product called the “Super PRIME” mortgage.  It was developed to reward premium clients,  separating them […]

Bank Satisfaction Falls

Decrease in Bank Satisfaction could Benefit Vancouver Mortgage Brokers Customers became less satisfied this year with big and  mid-sized banks in Canada, according to a report released by J.D. Power and Associates. A large part of this is due to a decrease in satisfaction relating to fees. The study does not highlight satisfaction related to […]

Canadian wage gains outpace inflation

ORA MORISON The Globe and Mail On average, Canadians brought home more cash in May, and earnings continued to grow faster than inflation. Statistics Canada reported Thursday that average weekly earnings crept up 0.5 per cent in May compared with April, and that gains were felt in all provinces. The average worker made $894.61 per week — […]

Think before gifting down payment on kids’ home

With high real estate prices and tighter mortgage lending rules, it can be tough for first-time homebuyers to get into the market. Many new homebuyers look to parents for help, and many boomers and soon-to-be retirees are quick to help out by offering the down payment. Is this a good strategy? Many years ago, when […]

Why we spend and what makes us do it

ANDREA WOO VANCOUVER — The Globe and Mail There’s the Prada handbag, a moon-shaped canvas tote with leather accents and a shiny, silver buckle. There’s the gas-powered scooter, a high-gloss, crimson beauty nicknamed “Big Red.” And there’s the scuba gear, complete with mask and flippers. There are also the justifications that accompanied each of Sara Chung’s retail […]

Changing Mortgage Regulations Present Challenges to First-time Homebuyers

Changing Mortgage Regulations Present Challenges to First-time Homebuyers On July 1 2012, new mortgage regulations came into affect in Canada. The purpose of these rules was to cool the hot Canadian housing market, as well as stem a housing bubble and high levels of household debt. The biggest change that potential homeowners should be concerned […]

One Year Fixed Rate Mortgage – Low Rate Mortage

Low Mortgage Rates on your Mind? Consider the One-Year Fixed Rate Mortgage In recent years we’ve heard quite a bit of talk from economists, banks and even Mr. Flaherty himself about the direction of mortgage rates; we were told they could only go up. But contrary to what market pundits were saying, mortgage rates fell even further. The […]

Carney warns falling oil price could grease economy’s slide

JEREMY TOROBIN OTTAWA — The Globe and Mail Published Tuesday, Jul. 17 2012, 9:09 AM EDT Last updated Wednesday, Jul. 18 2012, 7:34 AM EDT The Bank of Canada is adding the downward drift in prices for oil and other commodities to its catalogue of threats to economic growth. In a one-page statement on his latest interest-rate decision Tuesday, […]

Long Amortizations Survive…With 20% Down

Long Amortizations Survive…With 20% Down When the government cut maximumamortizations in 2008 and 2011, most big lenders reduced amortizations on all of their mortgages. They didn’t need to apply the changes touninsured mortgages, but many did anyway. Not this time. When the Department of Finance trimmed the insured amortization limit to 25 years on July 9, most […]

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