Insights From A Top Canadian Economist: Part 2 + MORE Nov 4th

Interested in learning more about property mortgages in Canada? Look no further!
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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 »
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My mortgage payments are approaching my trigger rate. How will this affect my mortgage and what should I do? Nov 7th

Experts say the key is to be proactive and prepare your finances well before your entire mortgage payment is going towards paying just the interest..... More »

Family legacy: How to pass along the family cottage—and 3 things to avoid + MORE Nov 22nd

The iconic Canadian cottage stands as a symbol of family traditions, summer getaways and cherished memories. Yet, as the years pass and generations shift, the future of a family cottage can become uncertain, thanks to things like family conflicts, financial implications and differing expectations am.... More »

Mortgage payment calculator Oct 11th

For the majority of Canadians, buying a home will be the single biggest purchase they ever make, and getting a mortgage is an essential part of this process. According to a National Bank of Canada report, the majority of variable-rate-fixed-payment mortgage borrowers who signed onto between 2020.... More »

Mortgage affordability calculator + MORE Nov 19th

powered by Mortgage affordability is an essential part of setting up your home-buying budget, and it’s based on a many factors—more on those later. If you’re looking to buy a home, one of the first things you’ll want to know is your mortgage affordability. And for that, you should start.... More »
Insights From A Top Canadian Economist: Part 1Two weeks ago, I attended the National Mortgage Brokers Conference and had the pleasure of seeing one of the most trusted economists in the country speak: Benjamin Tal. Ben is the Deputy Chief Economist at CIBC. I’ve been following him for over 20 years, as have many Canadians, and for good reason; not only is he exceptionally skilled at simplifying complex concepts; he’s also exceptionally skilled at getting it right.

His forecasts have always proven uncannily accurate, which is why he’s always been my go-to resource for what the Canadian economy can expect next. As always, his insights at the conference were extremely poignant. He painted a crystal clear picture of how we got here, what’s currently happening, and what’s to come.

Now, I’d like to share that picture with you. 

The Inflation Crisis

It’s no secret to anyone that’s bought anything recently: inflation has gotten out of hand. The Bank of Canada has swiftly responded with aggressive rate hikes aimed at cooling the economy and bringing inflation down…

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Canadian economist Benjamin Tal’s presentation at the National Mortgage Brokers Conference was eye-opening. In it, he posited a holistic view of what’s happening with the Canadian economy and what we can expect to happen next. He’s rarely been wrong in the 20 years I’ve been following him – so I thought it was incredibly important to share his insights with you. 

Part 1 of this series dives into the forces he believes are impacting inflation. These include international economies as well as lasting effects from the pandemic. There’s one factor however that I believe is most responsible for our current economic climate and is worthy of a larger conversation: the labour market.

Where Are All The Workers?

There are currently 1 million vacant jobs in Canada. Considering our relatively smaller population of 38 million, this is a huge number. So what’s stopping these positions from getting filled? To start, a shocking amount of people are battling long COVID…

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As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these forces are adding pressure to those with variable-rate loans and mortgages. Unsurprisingly, many Canadians are using their credit cards to charge their expenses.

How much debt does the average Canadian carry? 

The average credit card debt Canadians had in September 2022 was $2,121, according to Equifax. And another report the Canadian credit bureau, Canadian consumer debt has risen to $2.32 trillion, with an average debt load of approximately $21,000—excluding mortgages. These numbers represent an increase of 8.2% over last year, and 6.4% between the first and second quarters of 2022. And Canadians are using credit cards more, as there was a 6.4% increase in credit balances from the first quarter to the second…

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How to be an effective mortgage broker


How can mortgage brokers excel at their job in today’s competitive marketplace? Some of the country’s top experts provide some insight and know-how.

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