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How it works: Capital gains tax on the sale of a property + MORE May 3rd
Capital gains. Even the mention of these two words together can immediately conjure myths about owing the government 50% of the money earned from selling a home. But, like most rumours, it’s only half true—for now. You may have also heard that Budget 2024, the Canadian federal government introdu.... More »
Cryptocurrency exchange Cryptomus fined record $177M by Fintrac + MORE Oct 23rd
A cryptocurrency exchange has been fined almost $177 million—the largest-ever penalty by Canada’s financial intelligence agency—for infractions including failing to flag more than 1,000 transactions with suspected links to criminal activity. The Financial Transactions and Reports Ana.... More »
The best Visa credit cards in Canada for 2024 + MORE Dec 5th
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Compare your Visa options with our interactive tool and filter credit cards based on rewards value, annual fees, income requirements and more.
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Making sense of the markets this week: November 24, 2024 Nov 22nd
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Can’t stop the Nvidia train
Nvidia is now the world’s largest company. You know it’s growing quickly when there ar.... More »
Dow Jones Futures Fall; Nvidia Wavers Despite Strong Earnings, Guidance - Investor's Business Daily + MORE Feb 26th
Dow Jones Futures Fall; Nvidia Wavers Despite Strong Earnings, Guidance Investor's Business DailyNVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2026 NVIDIA NewsroomWhy Nvidia’s Huge Numbers Don’t Settle the Latest AI Fears WSJTech stocks today: .... More »
How much income do I need to qualify for a mortgage in Canada?
– moneysense.ca
Buying a home in Canada isn’t for the faint of heart—or light of wallet. Home prices have steadily trended higher over the past decade, coming to a national average of $698,520 in March 2024. That’s a 75% increase compared to January 2014, and it marks a whopping dollar difference of $398,119, according to the Canadian Real Estate Association (CREA). How much money do Canadians need to earn, on average, to afford a house?
Affordability conditions aren’t likely to improve anytime soon, despite the optimism that mortgage rates will stabilize; a monthly study conducted by Ratehub.ca reveals it has become increasingly tougher to afford a home since the start of the year. (Ratehub and MoneySense are both owned by Ratehub Inc.) The study gauges affordability by calculating the minimum annual income required to purchase the average-priced home in 13 of Canada’s major housing markets, based on real estate data, as well as average mortgage and stress test rates. It measures the trends in affordability on a month-to-month basis, as rates and home prices fluctuate…
