This week there was a lot of mortgage and housing talk as the Bank of Canada, not surprisingly, kept the interest rate right where it’s been for the past two years; and CMHC changes their construction forecast. And while that gives everyone a lot to talk about, Gail Vaz-Oxlade gives us a lesson on how important it is for couples to talk to each other about finances.
Mortgages
This week BMO announced that they were once again cutting their mortgage rates to a huge discount of 2.99% for a five-year fixed term. The move had some worried that this was the beginning of another round of mortgage wars in Canada. The Globe and Mail though, gives plenty of reasons though, why no one wins if that’s the case.
Canadian Mortgage Trends poses an interesting question this week: can you pay for a mortgage on minimum wage?
The RateSupermarket this week looks at the Bank of Canada’s interest rate announcement on Wednesday.
Real Estate
A case in Quebec has the Montreal Gazette looking at one more area of renter’s rights.
CanEquity has a recent report from CMHC, in which they say they expect housing starts and new home construction to get slower before things start to get better.
Personal Finance
Much like the premise of her financial help show, Till Debt Do Us Part, this week Gail Vaz-Oxlade looks at how important it is for couples to talk to each other about money.
Canadian Finance
While it looked like Canadians were filled with good intentions, with little action to back them up when it came to their RRSPs. Everyday Money reports this week on how the majority of Canadians did contribute this year.
