Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
How much real estate should you have in a balanced portfolio? + MORE May 7th
When investors talk about income-producing assets, the first that come to mind are dividends and interest, with capital gains a close third. But what about investment real estate? If you hold an asset allocation ETF, it will be chock full of stocks and bonds but offer little real estate exposure apa.... More »
Quebec’s legal battle between CNQ and title insurers leaves brokers and homeowners in limbo ahead of mortgage renewal wave + MORE Nov 27th
Quebec-based mortgage brokers and homeowners are caught in limbo due to an ongoing legal battle that is unlikely to be resolved before the renewal tsunami hits..... More »
Lauren van den Berg named new MPC CEO + MORE Aug 12th
Mortgage Professionals Canada announced today that Lauren van den Berg will take over as President and CEO of the association starting next month. Van den Berg will fill the position left vacant by former MPC CEO Paul Taylor. The change in leadership comes as the association recently achieved the mi.... More »
TD Bank sees mortgage volumes rise 7% in Q2, gains market share May 27th
Despite a slow real estate market and high interest rates, TD Bank reported a 7% increase in real estate secured lending (RESL) in the second quarter..... More »
National Housing Update: How the Real Estate Industry is Faring One Month into 2019 + MORE Feb 16th
Real estate news is typically quiet in January, but there’s been quite a few developments as of late. To quickly recap, Canadian real estate in 2018 ended with four consecutive months of sales declines. Overall, there was a drop of 11 per cent nationwide, with the 2.5 per cent drop from November .... More »
5 millennials on how much money they make and how they spend it
– moneysense.ca
It’s as if everyone is obsessed with millennials’ finances.One minute, our age group is being accused of spending too much money on lattes and avocado toast. The next, we’re being told we can’t afford homes because of said avocado toast (and when we live at home to save, we’re faced with backlash, too). To make matters even more confusing, a recent government study based on years of wealth surveys said millennials are actually wealthier than previous generations of people aged between 28 to 34. Pulling your hair out yet? Us, too.
So how are millennials *really* doing, money-wise? We asked five women how much they make each month, and how they spend it. From paying off student debt to balancing multiple part-time jobs, here’s what they had to say.
On juggling multiple side-hustles and managing a mortgage
(PHOTO: COURTESY OF JACKLYN MARWAH-CHOW)
Jacklyn Marwah-Chow, 25, lives in Toronto and works as a project and social media manager, as well as a fitness instructor…
CBS NewsGOP tax plan may offer little aid for many in middle classNational PostWASHINGTON — How much of the House GOP tax plan is tailored to benefit America's middle class? That's uncertain based on the details that have been provided so far. What is clear is that many of the benefits for the middle class could dwindle over …The Finance 202: Wall Street escapes GOP tax cutters unscathed, so farWashington PostThe Republican tax plan is an arrow aimed at blue states like CaliforniaLos Angeles TimesTax Change on Mortgages Could Shake Up the Housing MarketNew York TimesABC News -CNBC -CBS News -CNNall 2,725 news articles »
CIBC launches Simplii Financial, with just a few glitches
– moneysense.ca
TORONTO — The launch of CIBC’s new Simplii Financial direct banking brand on Wednesday has not gone exactly to plan, as some customers are finding glitches with the new offering.
The bank (TSX:CM) has switched over customers from President’s Choice Financial to Simplii after reaching a deal with Loblaw Cos. Ltd. (TSX:L) in August.
The companies decided to end a decades-long partnership and go their separate ways, with Simplii taking the savings, chequing and mortgage accounts and PC Financial keeping its MasterCard credit cards and PC Plus points program.
READ: What the CIBC-PC Financial break-up means for you
Some customers say they have found long call waits for customer services, and others are complaining on Twitter that the mobile application isn’t working or that they’re unimpressed with the changes.
“There are no innovations. They simplii just changed the app logo and colour. It’s still the worst mobile banking app in Canada,” tweeted Andrew Chisholm…
The bank (TSX:CM) has switched over customers from President’s Choice Financial to Simplii after reaching a deal with Loblaw Cos. Ltd. (TSX:L) in August.
The companies decided to end a decades-long partnership and go their separate ways, with Simplii taking the savings, chequing and mortgage accounts and PC Financial keeping its MasterCard credit cards and PC Plus points program.
READ: What the CIBC-PC Financial break-up means for you
Some customers say they have found long call waits for customer services, and others are complaining on Twitter that the mobile application isn’t working or that they’re unimpressed with the changes.
“There are no innovations. They simplii just changed the app logo and colour. It’s still the worst mobile banking app in Canada,” tweeted Andrew Chisholm…
How to choose the right insurance
– moneysense.ca
Q: My husband is 57 and I am 45. I am currently a stay at home mom to a 12-year old with autism. We have life and disability insurance on our mortgage. My husband no longer qualifies for critical illness through our bank as he is 57.
He also has short term and long-term benefits through his employer.
Should we switch to term insurance through a private insurance company for our insurance instead of paying $292 biweekly for mortgage life and disability? Can we even get disability insurance through a private insurance company? Also, should I keep this insurance since I am not employed?
—Tara
A: Insurance can be a bit of a pain. It can be expensive and often, it’s simply a sunk cost.
But when you need it, insurance is really important. And when it comes to managing financial risk, it is essential for most young families.
Your husband, Tara, likely has a real need for life and disability insurance. If you and your son would be in financial difficulty if he died, he needs life insurance…
Chilliwack ProgressApartment sales driving Lower Mainland housing marketChilliwack ProgressVancouver and the Fraser Valley both experienced above-average home sales last month, according to local real estate board figures, as buyers try to get ahead of the new mortgage requirements in January. Vancouver area home sales jumped 7.1 per cent …Foreign home buyers continue to flow into VancouverMortgage Broker Newsall 20 news articles »
