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Watch: What is mortgage affordability? + MORE Feb 27th
Not sure how you much can borrow to purchase a property? To find out, you’ll need to know about “mortgage affordability.” That’s how much money you are able to borrow to purchase a home. This video outlines the factors that can influence mortgage affordability and it shares everyth.... More »
The latest in mortgage news: uninsured posted rates at decade-highs + MORE Mar 11th
Uninsured posted rates from Canada's Big 6 banks have skyrocketed over the past year, according to data from the Bank of Canada..... More »
Scotiabank to buy small Dallas bank in mortgage-finance play + MORE May 30th
Scotiabank agreed to acquire Maple Financial Holdings Inc., which owns a small U.S. commercial bank, as the Canadian firm looks to expand its structured-finance business in the American mortgage industry. .... More »
Your Black Friday 2014 Savings Guide + MORE Nov 29th
Today marks the official countdown to the holidays – and the push to spend, spend, spend. Black Friday has grown from its humble beginnings as a post-U.S. Thanksgiving sale to an international shopping bonanza.
Not only has the shopping event crossed the border to Canada, but the calendar as .... More »
Latest in Mortgage News: BoC Sees Early Signs of Housing Overheating, but Will Keep Rates Low for Now Feb 27th
Fixed rates may be heading higher, but variable-rate holders can rest assured their rates won’t be going up just yet, at least according to Bank of Canada Governor Tiff Macklem. During a speech on Canada’s labour market, Macklem said monetary policy will need to continue to provide stimu.... More »
Rates mixed at weekly US Treasury bill auction with 3-month bills highest in 3 weeks
– canadianbusiness.com
WASHINGTON – Interest rates on short-term Treasury bills were mixed in Monday’s auction with rates on three-month bills rising to the highest level in three weeks, while rates on six-month bills were unchanged.
The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.015 per cent, up from 0.010 per cent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.040 per cent, the same as last week.
The three-month rate was the highest since those bills averaged 0.020 per cent on Sept. 8.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.62, while a six-month bill sold for $9,997.98. That would equal an annualized rate of 0.015 per cent for the three-month bills and 0.041 per cent for the six-month bills.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged down to 0…
The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.015 per cent, up from 0.010 per cent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.040 per cent, the same as last week.
The three-month rate was the highest since those bills averaged 0.020 per cent on Sept. 8.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.62, while a six-month bill sold for $9,997.98. That would equal an annualized rate of 0.015 per cent for the three-month bills and 0.041 per cent for the six-month bills.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged down to 0…
GICs: The problem with playing it safe
– moneysense.ca
Heather Walker, 59 (Photo by Philip Cheung)The problem
As a 59-year-old training administrator for a mining company, Heather is a member of her company’s defined contribution pension plan. She’s also mortgage-free. But in 2008 she suffered a 40% loss in her stock portfolio and has since slowly sold off all her high-fee mutual funds, putting her 100% in cash. “I have to pay more attention,” says Heather, who has started managing her own finances. After reading up on investing, she’s ready to rebuild her $200,000 portfolio—split evenly between registered and non-registered investments. She plans to add corporate bonds, but isn’t sure what to do about equities. “I have a low risk tolerance.”
The fix
Vancouver money coach Annie Kvick says losing 40% of your portfolio when you’re five to 10 years from retirement is stressful. But investing her entire portfolio in GICs and bonds is risky because Heather could lose her nest egg to inflation, or even outlive her money entirely…
