The debt problems of the global financial system are your problems. So pay down your credit card, credit line and mortgage. Making your household balance sheet tidier has the fortunate spillover effect of saving our economy.  From what? Just look at what’s happening in the US: The housing market is a disaster, weak consumer spending […]

With anticipated interest rate increases on the horizon, many homeowners are wondering whether to lock debt such as mortgages and secured lines of credit into a fixed-rate mortgage or stay variable.   Even some who are mortgage free are concerned with how rate increases will impact secured lines of credit, the financing of vacation homes and […]

Owning the roof over your head should still be a goal for most Canadians as paying rent is like paying someone else’s mortgage, experts say.    The Bank of Canada gave its clearest signal last week that interest rates are set to rise, while a growing number of real estate watchers and some economists are […]

  If you’ve been thinking about investing in real estate, there are some important things to keep in mind when it comes to where you decide to invest, how best to position your mortgage and why it’s important not simply to seek the lowest available rate.  As always, location is a key component to any […]

TORONTO (Reuters) – The Canadian dollar looks set to extend a rally that’s taken it to 3-1/2 year highs against the U.S. dollar this week, as more hawkish Bank of Canada comments lifted the currency and global investors pushed into the safety of Canadian assets. Given the central bank’s clear signal it would likely resume […]

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

The world is watching as negotiations to raise the US debt ceiling drag on towards the August 2nd deadline. Republicans recently proposed a plan to be voted on this week, hinging on cuts and caps, but the acrimony over spending or taxes continues.   Two Canadian economists have weighed into the debate, with editorials. While […]

  OTTAWA – The Bank of Canada signaled Tuesday that it will look for an opportunity to raise interest rates sooner rather than later to keep inflation in check as the Canadian economy continues to grow. The central bank kept its overnight rate target at one per cent but noted that the U.S. economy has […]

Tom Fennell Yahoo Finance  If there’s one question being kicked around the barbecue more than any other this summer, it’s probably this: should I lock in my variable rate mortgage? But with interest rates bouncing around, to the point where they make a mortgage-rate chart look more like the diagram of a rollercoaster, homeowners can […]

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economic expansion is proceeding broadly as projected in the Bank’s April Monetary Policy Report (MPR), with […]