Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Self-Employed but Need a Loan? 7 Things You Need to Know + MORE Aug 25th
Being self-employed has its pros and cons: you may have a more flexible schedule, but you also have a lot more responsibility, especially when it comes to managing your own finances.
According to Statistics Canada, 2.8 million people were self-employed in 2017. And with the swelling ranks of the se.... More »
Scotiabank says variable-rate mortgage clients “showing signs of stress” + MORE May 30th
Scotiabank says high interest rates are increasingly weighing on consumers, resulting in a credit deterioration among its variable-rate mortgage customers..... More »
Scotiabank mortgage growth slows as originations dip in key markets + MORE May 30th
Scotiabank’s mortgage growth stalled in Q2, with average balances flat from the previous quarter and originations slowing sharply in major housing markets..... More »
How retired parents can use the FHSA to help their adult children + MORE Mar 26th
If you’re a retiree or close to retiring, you probably have a paid-off principal residence, or should be close to having one.
However, many retirees—including me—have grown children struggling to get onto the first rung of the real estate ladder. Coming up with a down payment is still diffi.... More »
Lender execs weigh in on today’s mortgage market Oct 26th
Executives of some of Canada's top mortgage lenders weighed in on some hot topics during the lender panel at MPC's recent National Mortgage Conference..... More »
10 ways to save more and pay down your debt
– moneysense.ca
1. Set a goal
If you’re serious about saving you need to set a goal so you know what you’re saving for. Whether it’s a trip to Japan you hope to take in a few months or saving for retirement, having a very specific goal will help you stay motivated and on track.
2. Track your dollars
The best way to get on track to saving is to spend less than you earn. Tracking your spending—either through a daily journal or an app—can help you do this.
3. Trim spending
Consider trimming expenses. Once you know how much you’re spending monthly, you can decide what areas you’d like to cut back on so you can meet your savings goal.
4. Kill two birds with one stone
For those with low to moderate incomes, paying off debt—including the mortgage—is the best tax-planning you can do. That’s because you don’t pay taxes on the capital gains on your home and there’s no tax on the return you get for getting out of debt.
5. Automate it!
Set up an automatic transfer of funds to a savings to a savings account (or TFSA or RRSP) so that a set amount—say 10% of your gross monthly income that comes off your paycheque automatically…
Don’t Miss Opportunities at the Events You Attend
– canadianmortgagetrends.com
With the 2017 National Mortgage Conference happening this weekend, it’s important to step back and understand how you should be taking advantage of such events to help lay the foundation stones for successful future business opportunities and activities. We all love the parties, but your core value and your future success depend on many other […]
