The New Mortgage Truth? + MORE Mar 23rd
How to save on home insurance Jul 10th
The Best Credit Cards for Students in 2019 + MORE May 18th
Canadian home sales hit “speed bump” in July, despite rate cuts Aug 17th
Latest in Mortgage News – Industry Announcements Nov 26th
Dominion Lending Centres Canada – 5 year Closed : 3.39% (-0.05%)
– ratesupermarket.ca
This Change Will Have a Direct Impact on Rates
– canadianmortgagetrends.com
4 Tips to Help 20-Somethings Manage Their Debt
– walletpop.ca
Filed under: Budgeting & Planning, Credit Cards, Debt, Loans
By Dan Caplinger
Daily Finance
Debt can be a heavy burden on anyone, no matter what their age, but increasingly, young adults are starting out deeper in the hole. A recent report from credit-score provider FICO shows that student loan debt has climbed dramatically for those ages 18 to 29, with average debt rising by almost $5,000 from 2007 to 2012.
The good news, though, is that young adults are taking steps to get their overall debt under control, reducing their balances on credit cards and their debt levels for mortgages, auto loans, and other types of debt. With 16 percent of 18- to 29-year-olds having no credit cards, young adults are getting the message that managing debt early on is essential to overall financial health.
With the goal of managing debt levels firmly in mind, let’s take a look at four things you should do to manage your debt prudently and successfully.Continue reading 4 Tips to Help 20-Somethings Manage Their Debt4 Tips to Help 20-Somethings Manage Their Debt originally appeared on Walletpop Canada on Thu, 08 Aug 2013 13:35:00 EST…
Dominion Lending Centres Canada – 3 year Closed : 2.94% (-0.15%)
– ratesupermarket.ca
CMHC Move To Slow Housing?
– walletpop.ca
There’s a new twist in the debate over the state of play in Canada’s housing market.
A recent move by Canada Mortgage and Housing Corporation (CMHC) to cap guarantees it offers lenders on mortgage-backed securities could mean buyers might pay more for home loans, which would take some steam out of the housing market.
That would occur because the measure could effectively push up mortgage rates or cool lending, says Jim Murphy, chief executive of the Canadian Association of Accredited Mortgage Professionals.
“When you limit access to something, it’s Economics 101,” he says. “There’s less capital to go around so lenders will have to look to other sources and, generally speaking, those other sources could cost higher.”
The Crown corporation notified banks and other lenders that they will be restricted to a maximum of $350 million of new guarantees this month under its National Housing Act Mortgage-Backed Securities (NHA MBS) program.Continue reading CMHC Move To Slow Housing?CMHC Move To Slow Housing? originally appeared on Walletpop Canada on Wed, 07 Aug 2013 16:11:00 EST…
