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Consumer-first finance: How USDC Rewards are changing the game Nov 20th
While traditional savings accounts offer minimal returns, cryptocurrency platforms are presenting Canadians with new options for their cash. Coinbase’s latest offering—3.85% rewards* on USDC balances—highlights a growing shift in how people think about storing and growing their money.
T.... More »
The ISIS Threat in the U.S. Nov 23rd
Plus, student protests move to Princeton and an insurance giant prepares to leave ObamaCare..... More »
What to Do After Your Identity is Stolen? Apr 17th
Identity theft is a global crime where your personal or financial information is stolen to commit fraud in your name. It leads to severe financial and legal struggles. Identity thieves look for any of the following information:
Full name
Social insurance number (SIN)
Driver’s license number
Home.... More »
Universal Life Insurance Dec 18th
Universal life insurance is a hybrid policy that combines certain elements of both term and whole life. Universal life coverage offers the consumer the benefits of a more conventional term life policy and can build up a cash value more quickly than traditional whole life. It also offers a less rigid.... More »
On tax reform, Donald Trump gets it done—and takes a moment to gloat Dec 21st
U.S. President Donald Trump, flanked by Republican lawmakers, celebrates Congress passing the Tax Cuts and Jobs Act on the South Lawn of the White House on Dec. 20, 2017 in Washington, DC. (Photo by Chip Somodevilla/Getty Images)
You can’t spell “triumph” without T-R-U-M-P, and so here was the.... More »
CMHC Mortgage Rule Changes 2012: 1 Year Later
– ratesupermarket.ca
It was July 2012 when the Canada Mortgage and Housing Corporation made sweeping rule changes to mortgages that limited affordability to high ratio buyers, and those looking to take equity out on their home. The new rules were brought info effect to cool hot Toronto and Vancouver markets, despite concerns they may have a chilling effect on the overall economy as well. Now, 12 months later, how have those changes impacted the overall housing market?
How Have Mortgages Changed For The Consumer?
A year ago, it got harder to get a mortgage in Canada. The new rules reduced the maximum amortization to 25 years (previously 30) for high-ratio buyers, and reduced the maximum loan-to-value ratio on refinances to 85 per cent. As well, home purchases over $1 million dollars no longer qualified for mortgage insurance, and new limits were placed on gross debt service ratios and total debt service ratios at 39 per cent and 44 per cent, respectively.
The Real Estate Impact
The goal of these new rules was to try to chill overvalued markets and make sure the Canadian real estate industry wouldn’t head into a huge bubble destined to burst…
Wet basement? Sewer backup coverage may pay for loss
– thestar.com
A low-priced addition to a home insurance policy can help pay for basement damage when a storm causes sewer water to back up into your home.Water damage tips
– moneysense.ca
After Toronto’s latest bout of severe weather, we thought we’d remind homeowners that water damage isn’t always covered by home insurance policies. Still, homeowners who have experienced flooding should be prepared to make a claim with a fighting chance, just in case. TD Insurance has issued tips for affected homeowners in Toronto after the company came under fire for reportedly denying claims to Calgary area residents in recent days. First thing is first: protect yourself from electrical hazards in flooded areas by turning the electrical supply off and wear gloves, rain boots and a mask to protect yourself in cases of sewer backup. Next, lift any undamaged valuables away from the water source and call your insurance company’s claims hotline. Be sure to take photos of damaged items before arranging for emergency repairs and/or alternate accommodations. Last but not least, keep detailed invoices and receipts to submit to your insurer upon request.
Residential property prices in Canada are showing no signs of slowing down, a survey by Royal LePage suggests…
Eight U.S. big banks to face higher capital requirements
– theglobeandmail.com
Federal Deposit Insurance Corp. to boost leverage ratios to 6 per cent for JPMorgan Chase & Co , Citigroup Inc, Bank of America Corp, Wells Fargo & Co, Goldman Sachs Group Inc, Morgan Stanley, Bank of New York Mellon Corp and State Street Corp.
