By The Canadian Press OTTAWA – Interest rates are going up, and the federal finance minister says he expects them to rise even more. The Royal Bank increased several of its posted and special mortgage rates on Tuesday, joining TD Bank and CIBC. All three banks have increased the posted rate for a five-year closed […]

By LuAnn LaSalle, The Canadian Press MONTREAL – Your current lifestyle may impact your retirement more than you think. Can it be sustained? How much money will it take to maintain the standards you’re used to? What will it take in RRSPs, investments, savings and private and government pensions once retired? “Understand how much it […]

By Sunny Freeman, The Canadian Press TORONTO – Canadian home sales this year will be better than previously thought, helped by improving consumer confidence that will partially offset the anticipated deterrent of interest rate hikes, the Canadian Real Estate Association predicts. CREA released a revised forecast Tuesday that estimates there will be 439,900 existing homes […]

  Many people who would like to own homes have fears that prevent them from buying. If you’re one of these people, take heart – there are simple steps you can take to overcome your fears and become confident that you will make a sound purchase. Here are some of the top reasons you may […]

HAMILTON — A 45-year-old Hamilton woman has pleaded guilty to six charges in connection with the use of false documents to defraud local financial institutions of more than $200,000 in mortgage funds. Lauren Paolini is believed to be one of six accused involved in the scheme that saw large mortgages obtained with stolen identification for […]

By The Canadian Press | The Canadian Press – Thu, 27 Jan 1:43 PM EST   TORONTO – A new report from the TD Bank suggests that Canadians are taking the phrase “Go West, young man” seriously. More Canadians were on the move last year as a percentage of the population than any year since 1998, the […]

  By Julian Beltrame, The Canadian Press OTTAWA – Canadians may be starting to get the message about the perils of mounting debt, suggests a new report from CIBC. A new analysis by the CIBC shows that many measures of household debt moderated in the third quarter of 2010, just as the often-quoted indicator of […]

By The Canadian Press OTTAWA – Ottawa says over three million Canadians took advantage of the temporary home renovation tax credit, on average pocketing about $700 each. But that is less than what Finance Minister Jim Flaherty targeted when he introduced the one-year program in 2009 as part of the government’s stimulus package. The government […]

By Julilan Beltrame, The Canadian Press OTTAWA – North American consumers are starting to feel better abouttheir personal finances and the economy, a hopeful sign for the stillfragile recovery.Two fresh surveys, one by the Conference Board in Canada and anotherfrom the International Monetary Fund in the U.S., detected an identicalpattern of rising confidence in January, […]

Fact sheet First-time home buyers’ tax credit What is the first-time home buyers’ tax credit (HBTC)? The HBTC is a non-refundable tax credit for certain homebuyers who acquire a qualifying home after January 27, 2009, that is – closing after this date. How is the HBTC calculated? The HBTC is calculated by multiplying the lowest […]