Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Q2 2020 Bank Earnings – All About Provisions and Mortgage Deferrals + MORE Jun 19th
For the second-quarter earnings season, all eyes were on the Big 6 banks’ credit loss provisions and mortgage payment deferral programs. With the onslaught of COVID-19, the banks granted payment deferrals to more than 700,000 Canadians to help prevent a wave of defaults. In their second-quarte.... More »
Should you buy or rent in retirement? + MORE Aug 17th
(Pexels)
Q: I’m 57 and hoping to retire this fall. I will receive an OMERS defined benefit pension of $44,000 plus a $10,000 bridge until I turn 65. I have a $75,000 RRSP and $300,000 in cash. I have no debts and am a lifelong renter.
I would love some tax-efficient and potentially income pr.... More »
Latest in Mortgage News: Toronto Home Prices Set July Record Aug 9th
The rebound for Toronto home prices continued in July, with the average selling price reaching a record $943,710. That’s a 16.9% increase compared to a year earlier, according to the Toronto Regional Real Estate Board (TRREB). Home sales in the Greater Toronto Area were up 29.5% in July compar.... More »
New IMF Warnings For Canada’s Housing Market + MORE Mar 14th
My husband and I have started looking for a house. We love our current townhouse, but with a growing child and no backyard for her to play in, we want to see if we can afford the move up.
Last weekend was the first time we seriously did some house hunting in the GTA. Here are two things I observe.... More »
Mortgage renewal calculator + MORE Aug 18th
When it’s time to renew your mortgage, you can either stay with your current lender or shop around for a new one that offers a lower interest rate or different . Using a mortgage renewal calculator can help you pick the best mortgage offer available to you at the time of renewal.
.... More »
Mortgage Career of the Week
– canadianmortgagetrends.com
Company: Equitable Bank Position: Regional Business Manager Years of Experience Required: Minimum 5 years Licences or Registrations Required: No Location of Position: Vancouver, British Columbia Applicants may contact: careers@eqbank.ca Click…
Raising A Child Costs $233000: TD Study
– ratesupermarket.ca
Are you ready for the financial responsibilities of parenthood? Did you know raising a child can be as expensive as taking out a second mortgage on your house? Between diapers and diplomas, you could end up shelling out as much as $233,000, according to TD Canada Trust. From orthodontics, summer camp to post-secondary education, the expenses can really add up. The key is to plan ahead so you’re emotionally and financially ready before you bring home your bundle of joy.
Unexpected Child Expenses
Raising a child is expensive and it’s not getting any cheaper. The birth of a child brings new expenses you’ll have to budget for. Sports and extracurricular activities (30 per cent), vacations or summer camps (19 per cent), and clothing, toys and games (14 per cent) are among the top expenses that caught parents off guard.
“It’s important to work with an accredited advisor to create a long-term written financial strategy,” says Crystal Wong, Financial Planner at TD Wealth Management…
Long term is almost always more expensive.
– canadamortgagenews.ca
Ever wanted to change cell phone providers? How about internet providers? Move your investments or rrsps? Cancel that hydro or gas contract because you moved? And how about mortgages? When interest rates started heading down about 4 years ago, thousand of borrowers in fixed rate mortgages wanted to get out of their higher rates and […]
