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Toronto home sales in July plunge compared to year ago + MORE Aug 7th
TORONTO — The Toronto Real Estate Board says property sales tanked 40.4 per cent last month compared with July 2016.
The drop was led by the detached home market both in City of Toronto and the surrounding areas.
The board says the Multiple Listing Service composite benchmark price was up 18 per .... More »
Money and the price of indecision Jul 23rd
When we moved to Canada and bought our first car, insurance was simply another item on a very long checklist. I knew nothing about the Canadian insurance market, so I did what many newcomers do: lean on someone trustworthy. My father-in-law recommended the brokerage firm he had been using for years,.... More »
Term vs. permanent life insurance: How to choose what’s right for you Oct 11th
Life insurance can protect your loved ones financially after you’re gone, but picking the right kind can protect your wallet even when you’re alive. Generally, there are two kinds of life insurance: term life insurance and permanent life insurance. Permanent life insurance provides lifel.... More »
Founder of Chinese company with billions in B.C. assets gets 18 years for fraud May 11th
Anbang Insurance Group's extensive B.C. holdings — including Vancouver's Bentall Centre and the largest retirement and care home company in the province — is now controlled by the Chinese government..... More »
Perks with Purpose: Unlocking the Power of Group Benefits Sep 29th
In today’s competitive job market, offering a robust group benefits package isn’t just a perk—it’s a strategic necessity. Whether you’re an HR professional, a small business owner, or an employee trying to decode your coverage, understanding the basics of group benefits is essential.
.... More »
TD Canada Trust Hikes Prime Mortgage Rate – What’s Next?
– ratesupermarket.ca
It was a move that came as a shock to some but not was not a surprise to others. On November 1st, TD Canada Trust became the first of the big five banks in Canada to raise its prime mortgage rate from 2.7 per cent to 2.85 per cent. The news comes only two weeks after the implementation of brand-new federal mortgage rules, subjecting future homeowners to stricter measures in order to qualify for mortgage insurance, as well as a “stress test” if they are putting down less than 20 per cent on a home purchase.
In a release from TD, the bank says raising the rate is not a decision it takes lightly and they considered the full impact on customers before moving forward with the change. The release states that the bank will communicate directly with their customers whose mortgages are affected. Currently, the move only affects customers with variable rate products, not fixed-rate mortgages or lines of credit.
This Change Affects My Mortgage, so What are My Options?
If you’re affected by the rate hike or if you’re currently negotiating a mortgage with TD, this means the cost of a variable rate mortgage ultimately will increase over the long term…
