‘Business for self’ clients are on the rise. How do you secure a mortgage for one? + MORE Feb 24th

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

Home prices won’t revert to pre-pandemic levels, should start rising again in 2024: CMHC + MORE May 4th

The Canada Mortgage and Housing Corporation (CMHC) expects home prices to reach a bottom this year, but aren't expected to fall below pre-pandemic levels..... More »

Exclusive: 76% of mortgage holders are anxious about their upcoming renewal: MPC survey + MORE Jun 14th

Growing financial anxiety is affecting both Canadian mortgage holders and non-owners alike, according to the latest consumer survey from Mortgage Professionals Canada..... More »

Non-mortgage debt and delinquencies on the rise: Equifax Apr 10th

High interest rates have applied the brakes to Canada's housing market, with mortgage originations down nearly 40% compared to a year earlier..... More »

Latest in mortgage news: 50% of Canadians say high interest rates are negatively impacting their love life Feb 14th

As Cupid readies his arrows for Valentine's Day, a new survey has uncovered that high interest rates are taking their toll on Canadians' romantic life.... More »

Should retirees pay off their mortgages with investments? + MORE Nov 28th

Ask MoneySense I retired this year and my mortgage is coming due soon. My advisor said to keep the mortgage as rates are low possible and keep the money invested to keep making me money. I’m not sure this is wise, and my advisor works for the bank who holds my mortgage. What do you think? –Li.... More »
Ask MoneySense
I have $119,000 room allowed in my RRSP and $81,000 room in my TFSA.

I am 47, live in B.C., currently not earning income as a caregiver for a parent. I have a business with a registered GST number to claim income now or in the future. But for my question, let’s assume I will be claiming $0 for the next three years. 

I have a sum of $250,000 coming to me as a gift, and I am looking to invest/save it. 

I plan to use the portions not contributed into my TFSA and RRSP in investments that will be earning interest as income—likely mortgage investments.

Based on my income projections, what amount makes the most sense to invest into RRSPs at this time? 

Should I spread the amount out over a period of time? Same question for TFSA. 

—Jennifer 

Maxing out registered accounts: TFSAs and RRSPs

Jennifer, you likely want to maximize your tax-free savings account (TFSA), skip the registered retirement savings plan (RRSP) for now, and put the rest of your money into a non-registered account…

Continue Reading On moneysense.ca »

Roughly 2.9 million Canadians were self-employed in 2018, according to Statistics Canada, and many of them are keen to buy a home.

Continue Reading On canadianmortgagetrends.com »

On the surface, the Consumer Price Index data for January looks like inflation has finally been defeated. But soaring food prices and mortgage interest costs are continuing to take a bite out of household finances.

Continue Reading On canadianmortgagetrends.com »

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