BMO Drops Rates, will Others Follow?
Remember back in March when the Big Six banks dropped their rates to such ridiculous lows that they were practically giving mortgages away? One by one, each bank dropped their rates, taking advantage of low borrowing costs and trying to entice customers into buying their product. Those deals only lasted a couple of weeks until…
Read moreAre Cottage Sales Down? Or Just Early?
A survey that was completed by Leger Marketing for Royal LePage showed that 59 per cent of people who were planning on buying a cottage this year have backed off and decided not to after all. This one statistic has led to some confusion, largely on the part of Royal LePage. Along with the report,…
Read moreFinance Minister Thinks We’re Starting to get the Message
For nearly two years Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney have been warning us about the amount of debt we’ve been taking on, in both mortgage debt such as home equity lines of credit, and consumer debt such as credit cards. And while the warnings came with each new quarterly…
Read moreToronto’s Condo Market to be Supported by Many Factors
There’s been a ton of worry about the condo market in Toronto. Too many units are on the market, too few buyers are available for them, and yet starts continue on. Just a quick look at the simple chart below shows that if we continue at this pace, we could certainly be headed for some…
Read moreGetting a Mortgage? It’s Time to get a Will, Too!
Buying a home is a huge commitment. It’s a huge cost and, there are lots of responsibilities that go along with it. One of those responsibilities is often life insurance, and the option to buy mortgage life insurance. This type of life insurance will pay off the balance on your mortgage should you pass away….
Read moreCIBC Shies Further Away from Lending
CIBC announced early this year that it wanted to exit the mortgage broker channel and sell FirstLine, its mortgage branch. Also announcing that they were planning to keep their mortgage products (and the customers that went with them) within their branches, it was thought that the move was being made solely so that CIBC could…
Read moreGeneration X, Retirement, and Mistakes
The Financial Post recently ran an interview they did with finance guru and author of the book The Real Cost of Living, Carmen Wong Ulrich. During the interview Ulrich focused on the mistakes Generation Xers are making when it comes to their retirement. The points she makes are good, and are timely in nature, as…
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