Household Debt and Net Worth both Grow in Third Quarter
Statistics Canada came out on Friday with some good news and some bad news. According to their new report, household debt grew during the third quarter to a new record high, but at the same time, net worth also grew, suggesting that those who are taking on more debt can afford to do so. According…
Read moreMoney Talks: Volume 55
Well after a few weeks of riding a mortgage/real estate high in the news, this week’s volume of Money Talks covers everything from mortgage and real estate to news on the Canadian economy and personal finance too. For those of you who have been missing all features of the headlines, let’s get right into this week’s…
Read moreStephen Poloz says Housing Market Experiencing “Soft Landing” – For Now
In his last interest rate announcement, Bank of Canada governor Stephen Poloz sounded nearly optimistic about our economy, while leaving the overnight lending rate at the 1 per cent economists are expecting it to be for, minimum, the next six months. But this week when speaking to reports before a meeting in Montreal, he still…
Read moreWill Former BMO Mortgage Specialists be able to Find Work?
Yesterday we talked about the major job cuts made at BMO when they fired 1,000 employees, most of them mortgage specialists that were meant to be the bank’s saving grace. But while the natural transition for those specialists now without a job might be to turn to the broker channel, they might have a hard…
Read moreJob Loss at BMO shows Mortgage Specialists not Working Out for the Bank
It doesn’t seem like it was that long ago when RBC cut dozens of jobs and decided to outsource, and caused a global controversy over the move. They soon apologized afterwards and spoke of trying to keep jobs in the country, and we seem to have largely forgotten about it. Now, Bank of Montreal is…
Read moreCMHC Raises Fees, Private Insurers Benefit
Last week when Finance Minister Jim Flaherty was agreeing with comments made by the IMF about CMHC, he said that the government-backed organization planned to raise its risk fee, although he wasn’t specific about just how much it would rise. Now, CMHC has made the announcement that their risk fee will be going up to…
Read morePets may be Negatively Impacting Your Rental Unit in a Surprising Way
It’s pretty common for landlords to disallow their tenants to have pets in their unit with them. They can be messy, cause problems for those who live in the unit next if they are allergic, and can also cause damage to the unit. But while competition is so high for rental units, can landlords afford…
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