Money Talks: Volume 16
With all kinds of talk going on this week about mortgages, real estate, and just other financial topics in general, let’s get right into this week’s edition of Money Talks! Personal Finance Debt is a huge issue for everyone these days, but there are lots of ways to get out of debt. Financial Highway gives…
Read moreIs the Return on an Education Worth the Money You Spend for It?
Education is one of those things that, theoretically, should be considered to be “good” debt. But, facing today’s interest rates placed on these loans (5.5% is the current average rate until the rates increase,) and the fact that tuition is growing well above the pace of inflation (5% and 2% respectively,) it can sometimes be…
Read moreDifferences between CPP and OAS
A lot of Canadians made a lot of noise last year when Federal Finance Minister Jim Flaherty announced that those younger than 54 would need to wait another two years before they received any government assistance as they got older. The Old Age Security (OAS) benefit was being pulled back from 65 to 67, and…
Read moreThink Boomers are Going to Scoop Up all Those Condos? Think Again!
There are quite a few people who would be very happy if the aging Baby Boomers came in and scooped up all the excess condos in cities such as Toronto or Vancouver, where there’s a gross overstock on the market. Now, a new survey from Royal LePage says that we shouldn’t be holding our breath…
Read moreIs a “Lacklustre” 2% Rise in Home Values Such a Bad Thing?
TD Economics has released a report titled “Long-run rate of return for Canadian home prices,” which states that home prices should see a “lacklustre” return of only 2 per cent this year. And while that has some panicking, especially on the heels of the news that our economy is expected to slow in growth. But,…
Read moreOECD: Canada to Face Period of Slow Economic Growth
Canada may have lost its bragging rights when it comes to being one of the best economic performers of big industrial nations. According to a report issued by the Organization for Economic Co-operation and Development (OECD) on Monday, the data for Canada “continues to point to weak growth,” while the economies in the United States…
Read moreJim Flaherty: ‘I Thank’ the Banks that Didn’t Cut Mortgage Rates
Finance Minister Jim Flaherty has been known in the past for lashing out at the banks for their “irresponsible lending” habits and for encouraging Canadian consumers to take on even more debt that they can’t afford. When the Bank of Montreal slashed their mortgage rates to just 2.99 per cent for a 5-year fixed term…
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