Canadians’ focus on debt reaches highest point in five years: Manulife Investor Sentiment Index

WATERLOO– More Canadians say their top priority is to tackle their debts as they head into the New Year, according to the latest national poll for Manulife Financial, Canada’s leading insurance and wealth management company. Those who say their top financial priority is to pay down credit cards, lines of credits and mortgages hit a new five-year […]

Economists more optimistic than Canadians

TORONTO – Cheer up, gloomy Canadians — the recession is long over and growth will continue this year, say the country’s top economists, despite a survey which has found that most Canadians believe the economy is still in a downward spiral. The chief economists of Canada’s big five banks gave their predictions for moderate Canadian […]

7 Mortgage Trends To Expect In 2011

Financial experts suggest that borrowers should apply for a new mortgage loan, or refinance their home loan when the time is right for their individual needs, rather than attempt to time the market. While risk takers may be enthusiastic about waiting until the last minute to lock in a low mortgage interest rate, most homeowners and […]

Canadian job market better than expected in December

Derek Abma, Financial Post OTTAWA — Canada’s job market performed somewhat better than expected last month, with gains concentrated in full-time, private-sector employment, in industrial sectors and for those younger than 25. There were 22,000 additional people working in Canada last month, Statistics Canada said Friday. That slightly exceeded economists’ expectations for gains of 20,000. […]

Britons turn to credit cards to make mortgage payments

In what could be a warning of things to come for Canadians who may struggle their mortgage payments if interest rates rise, it has been reported that more than 2 million people in Britain have used credit cards to pay their mortgage or rent, an increase of almost 50 per cent in a year, according […]

Debt advisors flood Canadian market

by Garry Marr, Financial Post · Wednesday, Dec. 22, 2010 It’s not just personal debt that has climbed to record levels. The companies offering to help you with massive debt are also proliferating. Call them debt-settlement agencies, debt-solution providers or whatever you want. Their names are plastered on bus shelters and newspapers and call out […]

Top 5 Mortgage Trends of 2010

In many ways, 2010 was the start of a return to normalcy. Interest rates began their slow march back to sustainable levels, non-insured mortgage options returned to the marketplace, and private default insurers re-asserted themselves. In other ways, 2010 was atypical. The government enacted sweeping new mortgage rules, banks competed far more aggressively, and mortgage […]

Top Ten New Year’s resolutions for financial consumers: OBSI

Canada’s Ombudsman for Banking Services and Investments (OBSI) released its Top Ten Resolutions for 2011, highlighting the ways in which Canadians can help avoid future problems with their financial affairs. While this list relates to financial institutions, CMP thinks the general tips can be applied to mortgage holders as well and offers good discussion points […]

How savers can find the best interest rates

By Les Whittington | Mon Jan 3 2011 Everyone says we should be saving more money. But what’s the point? You don’t need a calculator to figure out that, with inflation in Ontario at 3.4 per cent and banks at best offering 2 per cent interest, your nest egg could actually be shrinking. So what’s […]

Five financial habits to start in 2011

Making changes in a New Year is an old topic that is reborn every January. While some tips still hold water, there are many inspiring and positive strategies toward seeing your finances in a new way – just in time for the New Year. These habits are not only possible to implement at any income […]

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