Mortgage Debt Climbing Faster than Credit Cards; but is that a Bad Thing?
A recent report from Equifax showed that our household debt is increasing even though our delinquencies are on the decline. And when it comes to that debt, the report also stated that as Canadians, our mortgage debt is climbing at much faster speeds than that of our credit card debt. Now the question is, is…
Read moreCMHC Insurance Slows, Showing there is no Major Collapse on the Way
During the heyday of the Canadian real estate market, it seemed as though there were plenty of things to criticize, and they all led to the same end result – a major collapse. One of those criticisms was the fact that CMHC, the Crown agency that insures mortgages from default for the bank, was taking…
Read moreWhen it Comes to Your Mortgage, are You in Over Your Head?
We all have choices that we have to make sometimes in life. Should we go on that trip, or save our money and pay down our debt? Should we go back to school, or keep working for that promotion at our job? Can we afford to keep our house, or should we sell it? And…
Read moreA Positive Spin on Rising Mortgage Rates
Mortgage rates have been rising over the past few weeks, and that has left most consumers, both homeowners and home buyers, crying that they won’t be able to afford their mortgages. Of course these rising rates do have an impact on those looking to get a mortgage, and they can marginally increase monthly payments for…
Read moreMoney Talks: Volume 40
Consumer finances and Canadian finances largely took up the headlines this week. However we do get a look at a new company working closely with brokers, and whether or not our homes are really affordable. Personal Finances This week the Canadian Finance Blog took a close look at Old Age Security and just what it…
Read moreDebt Loads Increases while Delinquencies see Decline
Just yesterday we talked about the most recent Equifax report which showed that our total debt loads as Canadians continue to increase. Highlighted in that report was a specific concern for senior citizens, the age group that took on more debt than any other this year when compared with last year. But is that really…
Read moreAs Our Debt Load Increases, Equifax says it’s Retirees that are Piling it On
It’s been no secret that Canadians are in trouble when it comes to their overall debt load, and our debt-to-income ratio is still hovering above the 160 per cent mark. That’s why when it was revealed last week by Equifax Canada that our debt load has increased once again, it was big news. And the…
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