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 […]

Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home. Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better […]

Canadian homebuyers are showing “a high level of financial literacy,” according to Canada Mortgage and Housing Corporation’s (CMHC’s) 2011 Mortgage Consumer Survey that found both high levels of research and a determination to pay off mortgages quickly.  The survey said 75% of respondents felt it “very important” to pay off their mortgages as soon as […]

The current mortgage rate environment truly is like Christmas in July for any mortgage shopper! While the past isn’t always a reflection of what’s to come, following are some certainties you can take to the bank! 5-year fixed mortgage rates over the past 6 years are as follows: 2011: 3.59 2010: 4.49 2009: 3.95 2008: […]

Garry Marr, Financial Post · Jun. 22, 2011 | Last Updated: Jun. 22, 2011 9:10 AM ET You better buy a house in this market before it’s too late. How many times have you heard those words? The panic thinking is driven partially by prices continuing to rise to record levels but also by the […]