Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Garage and basement renovations for any budget + MORE Dec 12th
(Genuwine Cellars)
Basement renovation ideas
According to Statistics Canada, basement renos are popular, what with adult children moving back in and the desire for young families to create a mortgage-helper rental suite.
But below-grade upgrades don’t come cheap. For basic finishes, without a bath.... More »
Lender Calls – Q3 Roundup + MORE Dec 21st
Canada’s biggest non-bank lenders have all reported third-quarter earnings. In their earnings calls they outlined how they’re coping with Ottawa’s recent changes to the mortgage qualification and insurance rules. Per usual, we’ve combed through their transcripts in order to se.... More »
BoC: Interest rate not the only tool for aiding economy + MORE Feb 9th
OTTAWA – The Bank of Canada says its trend-setting interest rate should not be considered the primary tool responsible for shoring up the country’s financial system.
In prepared remarks of a speech today, deputy bank governor Timothy Lane says other regulatory measures are also needed to help ma.... More »
Canada’s home renovation costs are still climbing, but the pace is slowing Jan 11th
Home reno costs in Canada continued to climb in Q3, driven by higher roofing and window expenses, with many homeowners relying on their home equity to fund these projects..... More »
5 surprises to avoid when switching mortgages before your term ends + MORE Jul 31st
These days, being a home owner with a mortgage can feel like you’ve ordered the chicken dinner before realizing there was a steak special. You orchestrate a last-minute switch before your meal arrives, and it’s only once your overcooked steak is served that you know you’ve made a mistake.
.... More »
Cash Store faces new payday loan rules: Roseman
– thestar.com
The Payday Loan Act will be amended to protect consumers who get a basic line of credit at Cash Store, a lender that is not licensed in Ontario.Mortgage Career of the Week
– canadianmortgagetrends.com
Company: Street Capital Position Title: Regional Vice President Previous Experience Required: Min. 3 years mortgage experience; Min. 4 years sales and/or relationship management experience Licences or Registrations Required: No Location…
Financial Resolutions 2014: 4 New Ways You Should Manage Your Money
– ratesupermarket.ca
While everyone else is making resolutions to eat less and exercise more, why don’t you focus some energy on getting your finances into shape? Here are some financial resolutions 2014 worth sticking to, and tips to how to end the year with more money in the bank than you started with.
Resulotion 1: I’ll Track Spending, Then Set A Budget
The best way to ensure you have more money in the bank at the end of the month is to spend less of it. You should set a budget for yourself and stick to it.
The first step in setting a budget is to track your current spending. Pull out a few months’ worth of recent bank statements, credit card bills, and your utility bills to start with.
Using a program such as Excel, set up columns for the various things you spend money on. The more specific you are, the easier it will be to spot areas to cut back on later:
•Rent/mortgage
•Household utilities (itemize each one separately)
•Cellphone bill
•Public transit
•Taxis
•Gasoline
•Auto repairs and maintenance
•Groceries
•Restaurant meals
•Takeout coffee
•Bar tab
•Clothing
•Books and magazines
•Concerts and movies
In short, if you spend money on something, create a column for it…
