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

‘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.
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Mortgage brokers rated their lenders, and these are the results + MORE Apr 16th

If you want to know how mortgage lenders are performing in today’s volatile market, who better to ask than a mortgage broker?.... More »

MoneySense has a new look Apr 25th

We have exciting news: MoneySense has made some upgrades. The core of what we do will stay the same—we’ll continue to bring you high-quality content from the best financial experts in Canada—but we have a fresh new look. Why are we changing? We want you to have the best possible expe.... More »

How high will interest rates go in Canada? Could they reach double digits? Jul 30th

We’re in the midst of a cost-of-living crisis—with sky-high grocery prices and mortgage rates that would have been inconceivable 18 months ago. To fight inflation, the Bank of Canada (BoC) has increased the policy interest rate by a total of 475 basis points (4.75%) since March 2022 (a basis.... More »

Why mortgage brokers are embracing ‘digital onboarding’ and not looking back Aug 9th

For much of the mortgage industry’s history, brokers required a mountain of paperwork from prospective clients to ensure they’d actually be approved by a willing lender..... More »

The latest in mortgage news: Half of borrowers concerned about mortgage renewals Apr 7th

Nearly half (47%) of Canadians buying or renewing a mortgage say they are concerned about qualifying for the amount they need..... 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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