Canadian Banks Competing for Mortgages
It’s no secret that banks have been looking to increase their profit margins for some time. With interest rates lower than they’ve ever been, the banks needed to come up with new ways to make money. While it might not sound like that’s great for the consumer or homeowner looking to refinance their home or…
Read moreConfusion Surrounds Canadian Housing Market
The confusion with the current state of the Canadian housing market began when interest rates were set to record lows early last year. That created a surge of homebuyers, and of home sellers that knew those buyers were ready to pay whatever price was put on a home. That led to home prices climbing and…
Read moreING Direct Offers Canadians a New Kind of HELOC
ING Direct surprised everyone in early December when they started offering collateral mortgages – and only collateral mortgages. But it seems, that wasn’t the only move the lender had on the agenda in order to get their already popular product out to even more Canadians. Now, the lender that “saves you money,” is going to…
Read moreRRSPs for the Contributor and Non-Contributor
It’s the turn of a New Year and for many Canadians, it means that it’s time to start worrying about one more thing: RRSP contributions. Because the deadline of March 1 seems to be looming for RRSPs and the tax year of 2010, many think that it’s time to rush out and start pouring our…
Read moreCanadians Getting Better at Paying Off Credit
Finance Minister Jim Flaherty and the government of Canada were so worried about household debt levels early last year that they imposed tighter rules on home loans including new mortgage insurance rules and tightening amounts loaned on secured lines of credit. That seemed to work for a little while, until later in 2011 when our…
Read moreWhen Buying Investment Property, is it Better to be Young?
Ask anyone over the age of 55 and they’ll likely be able to give you a long list of things that were better when they were young. But, is buying investment property one of them? While investing in real estate is always a much better option than buying stocks, bonds or mutual funds (especially in…
Read moreAre You Worried about the Canadian Economy in 2012?
For years we Canadians have been priding ourselves on the fact that the global financial crisis of 2008 didn’t hit us nearly as bad as the rest of the world – especially those people to the South of us that always seem to come out just a smidge better than us. But it seems that…
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