How Much Debt is Too Much?
Debt is rampant these days and it’s not that often that you hear of people who are completely debt-free. But when does debt become too much? Here are five signs that could be your own red flags to let you know that you’re accumulating too much debt.
Read moreWho Sets Mortgage Rates & How To Get the Best One
How are you supposed to get the best mortgage rate for you, or even have a ballpark figure in mind; and why are different lenders allowed to have such varying rates? Who sets the mortgage rates in Canada anyway?
Read moreHomeowners Prefer Renovating Bathrooms and Kitchens
A new BMO poll found that most Canadian homeowners (83 percent) will make renovations to their home over the next two years. The most interesting finding is that homeowners are shrewd investors who understand very well which renovations will add value to their home and which will be wasted money (at least from a value…
Read moreRBC Forecast Presents Some Interestings Facts, Predictions
RBC’s recently released housing forecast for Canada includes a number of interesting points about the Canadian housing market, both currently and moving forward: – An increase in interest rates over the next two years will cool Canada’s resale market and slow down home price growth, but won’t cause either to decrease below current levels. -Essentially,…
Read moreBoC Holds Prime Rate; What’s in Store for the Future?
To no one’s surprise, the Bank of Canada opted against an interest rate hike yesterday as it released its July statement. While alot has been made about the strong suggestions in the statement that a rate hike was imminent, there are some interesting points that suggest a more patient approach might be taken. First of…
Read moreCanada’s Consumer Debt Situation Not As Bad As We Thought
Some positive news out of a recent CIBC report shows that Canadians have significantly slowed down their accumulation of consumer debt over the last year. While total debt rose 1.8% over the last quarter, outpacing the 0.7% increase in income, consumer debt (that is, total debt minus mortgage debt) rose at the same rate as…
Read moreBank of Canada Interest Rate Decision Coming Tomorrow
Tomorrow, the Bank of Canada will make its rate hike decision, though the consensus appears that no change is imminent. A survey of 37 economists predicts that there will not be a rate hike tomorrow and that while it is a slight possibility that there will be a hike in September, it is much likelier…
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