‘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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 bank mortgage

Some Things Never Change: What We Can Learn From the Past + MORE Mar 5th

I started CanadaMortgageNews.ca in 2009 with one goal: to dispel misinformation. A lot of mortgage “experts” were coming onto the scene at the time with outrageous claims and getting quoted by media outlets. They were all great writers, no doubt. The problem was a lot of what they were saying ju.... More »
 bank mortgage

Scotiabank “intentionally slowing” its mortgage portfolio + MORE Mar 2nd

With its new CEO now at the helm, Scotiabank has laid out its plans for a shift in focus in terms of how its funds its loan book..... More »

Mortgage debt taking up a record share of income Mar 17th

Borrowers are now spending roughly $1 out of every $13 of their disposable income on servicing their mortgages. That’s according to Statistics Canada’s fourth-quarter national balance sheet and financial flow accounts. The data shows Canadians are spending 7.66% of their household dispos.... More »

Mortgage providers slash rates in wake of bond yield drop + MORE Mar 23rd

It took some time, but mortgage rates are now responding to last week's plunge in bond yields stemming from fears about systemic financial risk in the U.S. and Europe..... 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. 


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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