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What the heck is a TFSA? Jun 4th
One of the side-effects of working for a personal finance magazine is that my buds good-naturedly ask me for advice. I always oblige, albeit sheepishly, without letting on that I’m still learning, too (which I freely admit here).For instance, the other day I was having lunch with some friends whe.... More »
Canadian home sales flat in April as buyers remain cautious - The Globe and Mail + MORE May 15th
Canadian home sales flat in April as buyers remain cautious The Globe and MailDespite falling interest rates and prices, home affordability isn’t set to improve any time soon, report says Toronto StarCanadian real estate market entering a ‘transition period,’ says CREA&nb.... More »
Wealthsimple review 2020 Sep 17th
Maybe you’re here for our Wealthsimple review because its slick ads featuring frank talk on finances from Hollywood actors, such as Mark Duplass and Aubrey Plaza, made you curious. Or maybe its highly relatable celebrity social media posts, like Queer Eye’s Jonathan Van Ness declaring his First .... More »
Can Brenda and hubby retire at 60 with $45,000 in income? + MORE Mar 19th
Q. If my spouse and I retire at age 60 in about three years—and want to have $45,000 net annually to spend—how much money will we need to have saved? We have no company pensions—only full CPP and OAS. We expect to live to age 85. – Brenda B.
Brenda, there are several ways you can set up you.... More »
Canadian bank earnings reports Dec 6th
The Big Six banks in Canada reported on their earnings this week. Here are the takeaways, including revenue, prices and dividends.
Canadian bank earnings highlights
Here’s how Canadian banks performed in the three months ending October 31st, 2024:
BMO Financial Group (BMO/TSX): Adjusted ear.... More »
Enbridge to double 2018 asset sales, targets about $8-billion: sources
– theglobeandmail.com
Enbridge hopes sales will help speed up debt reduction, strengthen its balance sheet and raise its dividend
Home sales fall across Canada to reach their lowest level in 3 years: CREA
– canadianbusiness.com
A flood of buyers and sellers looking to close deals late last year ahead of looming tighter mortgage rules resulted in a 14.5 per cent “payback” drop in home sales between December and January, market watchers said Thursday.
Economists expected the drastic decline, which marked the lowest sales level in three years, and anticipate the market will continue to be dampened in the near future as Canadians negotiate the new rules and a January interest rates hike, the third in the past year.
“It’s the biggest monthly percentage drop in sales activity since October 2008,” said Gregory Klump, the Canadian Real Estate Association’s chief economist, referencing when the country was in the midst of the so-called Great Recession.
January activity was down in three-quarters of all local markets and virtually all major urban areas, especially in Ontario’s hot spot in the Greater Golden Horseshoe, according to data released by CREA Thursday. The decline was less significant on an annual basis, with sales falling 2…
Economists expected the drastic decline, which marked the lowest sales level in three years, and anticipate the market will continue to be dampened in the near future as Canadians negotiate the new rules and a January interest rates hike, the third in the past year.
“It’s the biggest monthly percentage drop in sales activity since October 2008,” said Gregory Klump, the Canadian Real Estate Association’s chief economist, referencing when the country was in the midst of the so-called Great Recession.
January activity was down in three-quarters of all local markets and virtually all major urban areas, especially in Ontario’s hot spot in the Greater Golden Horseshoe, according to data released by CREA Thursday. The decline was less significant on an annual basis, with sales falling 2…
Toronto stock index and Wall Street rebound, as loonie strengthens
– canadianbusiness.com
TORONTO _ Canada’s main stock index posted its second straight day of gains, as North American markets bounced back after a negative start to the trading session.
The Toronto Stock Exchange’s S&P/TSX composite index advanced 79.39 points to 15,407.66, with the real estate and utilities sectors leading a largely broad-based advance.
In New York, the Dow Jones industrial average advanced 306.88 points to 25,200.37. The S&P 500 index was up 32.57 points to 2,731.20 and the Nasdaq composite index added 112.81 points to 7,256.43.
The Canadian dollar closed at an average trading value of 79.96 cents US, up 0.35 of a U.S. cent.
The April crude contract was up 66 cents to US$61.17 per barrel and the March natural gas contract gave back a cent at US$2.58 per mmBTU.
The April gold contract was down US$2.70 to US$1,355.30 an ounce and the March copper contract was up one cent to US$3.25 a pound.
The post Toronto stock index and Wall Street rebound, as loonie strengthens appeared first on Canadian Business – Your Source For Business News.
The Toronto Stock Exchange’s S&P/TSX composite index advanced 79.39 points to 15,407.66, with the real estate and utilities sectors leading a largely broad-based advance.
In New York, the Dow Jones industrial average advanced 306.88 points to 25,200.37. The S&P 500 index was up 32.57 points to 2,731.20 and the Nasdaq composite index added 112.81 points to 7,256.43.
The Canadian dollar closed at an average trading value of 79.96 cents US, up 0.35 of a U.S. cent.
The April crude contract was up 66 cents to US$61.17 per barrel and the March natural gas contract gave back a cent at US$2.58 per mmBTU.
The April gold contract was down US$2.70 to US$1,355.30 an ounce and the March copper contract was up one cent to US$3.25 a pound.
The post Toronto stock index and Wall Street rebound, as loonie strengthens appeared first on Canadian Business – Your Source For Business News.
Millennials, don’t make the retirement-wrecking mistake of avoiding stocks
– theglobeandmail.com
More than any other demographic, young adults have to be savvy about the stock market while investing for retirement
Home Capital Group says new mortgage rules have clients migrating from big banks
– canadianbusiness.com
TORONTO _ Home Capital Group Inc. believes early results from this year suggest that mortgage business may be migrating to the alternative lender after the federal banking regulator introduced tougher rules for uninsured mortgages at the beginning of the year _ even though it too is required to abide by the requirements.
Preliminary indicators also suggest the credit quality of Home Capital mortgage originations is improving after the new rules were introduced Jan. 1, though it’s difficult to precisely quantify the impact, chief executive Yousry Bissada said on a conference call Thursday to discuss its fourth-quarter earnings.
“We have observed that some of our customers have been impacted by the stress test, and have therefore qualified for smaller loans than they would have last year.”
The rules for federally regulated lenders introduce a stress test for borrowers with a more than 20 per cent down payment to prove that they can service mortgage at a qualifying rate of the greater of the contractual mortgage rate plus two percentage point or the five-year benchmark rate published by the Bank of Canada…
Preliminary indicators also suggest the credit quality of Home Capital mortgage originations is improving after the new rules were introduced Jan. 1, though it’s difficult to precisely quantify the impact, chief executive Yousry Bissada said on a conference call Thursday to discuss its fourth-quarter earnings.
“We have observed that some of our customers have been impacted by the stress test, and have therefore qualified for smaller loans than they would have last year.”
The rules for federally regulated lenders introduce a stress test for borrowers with a more than 20 per cent down payment to prove that they can service mortgage at a qualifying rate of the greater of the contractual mortgage rate plus two percentage point or the five-year benchmark rate published by the Bank of Canada…
