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Latest News
How much income do I need to qualify for a mortgage in Canada? + MORE Aug 20th
The first two rate cuts from the Bank of Canada (BoC) are finally making a mark on housing affordability.
According to the latest monthly affordability report from Ratehub.ca (Ratehub Inc. owns both Ratehub.ca and MoneySense), it became easier to qualify for a mortgage for the average-priced hom.... More »
I have a home equity line of credit and rates are heading up fast. Am I in trouble? + MORE Apr 19th
If rates keep rising, your monthly interest payments could almost double. But there are some things you can do to protect yourself..... More »
How much income do you need to buy a home in Canada? A look at housing affordability in November 2025 + MORE Dec 24th
For a while there, it appeared Canada’s housing market was seeing shoots of improvement – but buyers retreated back to the sidelines in November, further dousing price growth and leading to overall improved affordability conditions. As reported by the Canadian Real Estate Association, home sales.... More »
Latest in Mortgage News: Stress-Test Rate Drops After a Year of No Change Jul 20th
The benchmark posted 5-year fixed rate, which is used for stress-testing Canadian mortgages, fell yesterday in its first move since May 2018. The Bank of Canada announced the mortgage qualifying rate drop to 5.19% from 5.34%. This marks the first reduction in the rate since September 2016. The rate .... More »
Do I really need life insurance? + MORE Mar 11th
Life insurance shouldn’t be one of those things you put off thinking about—because you (and the people who depend upon you) could need it at any time. But many do wonder if it’s worth the monthly premiums. But what about you, how do you know if it’s necessary for you? And why do we need life.... More »
Top 5 Ways to Pay for School
– macleans.ca
Looking into a post-secondary education for the first time can be pretty overwhelming, and figuring out how you’ll pay for it all can add extra stress. To help, here are five options to keep in mind while going through the process.
TIP: Apply for everything you qualify for! Check scholarshipscanada.com and yconic.com.
TIP: Find out if your parents are helping you out. They may have an RESP or other savings.
Figure out how much you need to pay for school with the RBC Student Budget Calculator
TIP: Learn more at canlearn.ca.
TIP: Look for job sites catered to students and new grads such as TalentEgg and jobpostings.ca.
TIP: Check out how the RBC Student Line of Credit could help you.
For year-round student finance tips, check out the RBC Student Solutions Hub.
® / ™ Trademark(s) of Royal Bank of Canada.
Personal lending products are provided by Royal Bank of Canada and are subject to its standard lending criteria. Some conditions and restrictions apply.
The post Top 5 Ways to Pay for School appeared first on Macleans…
How life insurance can protect from debt risks
– moneysense.ca
Q: Our 19-year-old son has been accepted into an aviation program. The cost of the program is $100,000. Government Student Loan funding is not enough to cover the program cost, therefore we looked into a student line of credit. Unfortunately, a pilot was not listed as a profession that would get approval for a $100,000 student line of credit; the only option was to use our own personal line of credit.
In order to protect ourselves financially in case something happens to our son, I would like to purchase life insurance but I’m not sure what type of life insurance and if disability insurance is also needed. Once his debit is paid off I would like to see him continue with the life insurance policy so he has coverage if he decides to start a family. Would he be able to increase the policy coverage? Or is it in his best financial interest to incorporate future costs now?
—Diana
A: Diana, this is a great question. This is a good example of life insurance protecting a financial risk, which is one of the main purposes of life insurance…
The Latest in Mortgage News – New Era, New Choices
– canadianmortgagetrends.com
Here’s our latest recap of Canadian mortgage and real estate news. This week we look at: The latest housing affordability report, which came out with fairly predictable results How the post-OSFI stress test bump in business for credit unions may not be materializing What HomEquity’s 2017 originations data says about the trend towards reverse mortgages […]
