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, […]

Canadians slowing down on borrowing amid economic uncertainty

David Paddon The Canadian Press TORONTO — There are signs that Canadian consumers have slowed down their borrowing this year, after peaking in the fourth quarter of 2010. A TransUnion analysis released Thursday found that average consumer debt, excluding mortgages, was $25,594 in the third quarter. That’s about where it has been throughout 2011, although […]

Planning Your Retirement- There is no Substitute

One of the best risk-adjusted investments you can make requires no commissions, no buying and selling, and no management fees. According to a new study from the Certified General Accountants Association of Canada, the boring old mortgage prepayment performs better than most common retirement savings vehicles, including RRSPs. “Single individuals and couples with no dependents […]

The Unlikely Retirement Savings Strategy

One of the best risk-adjusted investments you can make requires no commissions, no buying and selling and no management fees. According to a new studyfrom the Certified General Accountants Association of Canada (CGAAC), the boring old mortgage prepaymentperforms better than most common retirement savings vehicles, including RRSPs. “…Single individuals and couples with no dependents may be better […]

Aging Boomers spur housing needs by 2030

Garry Marr Sep 8, 2011 A new study from the Conference Board of Canada predicts that by 2030 about 80% of new housing demand will be consumers in their golden years. It will bring a new wave of homes that are very low maintenance, like condominiums or seniors residences. At the same time the shift […]

Mortgage debt threatens boomers’ retirement plans

Mortgage debt threatens boomers’ retirement plans Nearly half of Canada’s baby boomers are still paying down their mortgage and view their level of debt as an obstacle to reaching their financial goals. A poll released Wednesday by CIBC and conducted by Harris-Decima said that as the country’s largest demographic moves closer to retirement, 46 per […]

Help for seniors

Paul Barker, Postmedia News · Mar. 30, 2011 | HomEquity Bank, operator of the Canadian Home Income Plan reverse mortgage, better known as CHIP, has a monopoly today but mortgage experts say it’s only a matter of time before competitors move into this highly lucrative and growing market. “I can’t predict when it might happen […]

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