The latest in mortgage news: BC government unveils details of its proposed home-flipping tax + MORE Feb 27th
Trump fires Federal Reserve Governor Lisa Cook - The Globe and Mail Aug 26th
FSRA CEO Mark White to step down for new position as Chair of Ontario Energy Board Jul 5th
Toronto housing bubble: Is it ready to pop? + MORE Nov 25th
New year, new spending habits
– moneysense.ca
Money-wise, it’s been a challenging year for Canadians but the new year is also a chance to build better strategies around how you spend money. Steer clear of these three common pitfalls for financial success in 2023.
Money mistake #1: Not paying off debt quickly
If you’re in the red, you’re not alone. In 2022, Canada’s mortgage load experienced the biggest year-to-year jump in more than a decade, and everyone is feeling the pinch as inflation raises the price of everything from groceries to holiday gifts. Budgets are tight, which makes paying off bills trickier.
Not all debt is created equal. Some debts, like a low-interest line of credit or a student loan with an interest-free grace period, might not be as pressing as those with higher interest rates. Overall, though, debt reduction is always a good strategy. That’s because, of course, over time the interest owing on a loan will really add up. In fact, an estimated 41% of Canadians carry a growing credit card balance every month…
As bond yields fall, mortgage providers are cutting fixed mortgage rates
– canadianmortgagetrends.com
The popularity of variable-rate mortgages continues to fall
– canadianmortgagetrends.com
RBC says a majority of its mortgage clients can absorb higher payments
– canadianmortgagetrends.com
“The variable customer is in good shape,” says Scotiabank
– canadianmortgagetrends.com
