Prepaid Credit Cards get New Regulations, Too!
The Canadian government has been becoming increasingly concerned about the amount of debt Canadians are racking up for themselves. Because of this, Finance Minister Jim Flaherty along with the Office of the Superintendent for Financial Institutions have placed a number of restrictions on home loans and second mortgages such as HELOCs. Now that those rules…
Read moreWhat are the New OSFI Rules?
We’ve talked about the new OSFI rules before, both when they were first proposed and then again when they were instated as the new rules federally-regulated banks had to follow. But, that was way back in July when they were first announced. These rules went into effect on November 1, 2012 – Thursday of this…
Read moreA Brief Overview of the Economy and Real Estate Situation in Fredericton, NB
Introduction Fredericton is the capital city of New Brunswick and is the third largest city to be a provincial capital in Canada. Most recently touted for its electronic innovation, Fredericton has a rich history and culture, and plays a very important role in the Canadian economy. The Local Economy The local economy was once based…
Read moreWhat is Financial Literacy?
Yesterday marked the first day of Financial Literacy Month in Canada; and just a couple of days ago, we posted a quiz to test your financial literacy. But just what is financial literacy? If you didn’t score well on the test, this is something you’re probably wondering. But even if you did score high, you…
Read moreA Brief Report on the Real Estate Sector in Sault Ste. Marie
Introduction Sault Ste. Marie, Ontario is home to a variety of industries including steel, forestry and BPO services. The total population is about 75,000 people, making it the third largest city in Northern Ontario. However, this number has fluctuated some during the past few years especially true during the recession. The Local Economy The local…
Read moreWhy Weighing Debt Against Assets Doesn’t Always Work
There’s been a lot of talk in the country surrounding debt lately. And even with our household debt to household income ratio is currently sitting at 163%, Canadians don’t seem to be too worried. The amount of surveys and studies constantly being released show this. So why aren’t we worried? Mostly it’s because for the…
Read moreA Brief Report on the Real Estate Sector in Timmins, Ontario
Introduction Timmins, Ontario is an important economic hub in North East Ontario, with a population of around 43,000 and an industry driven by natural resources. The city’s population has seen little to no growth in the last decade, but due to the increase in gold prices, one of the economy’s most abundant resources, the real…
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