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Latest News
How much you need to earn to afford a home in Vancouver and the GVA Jan 31st
The Canadian real estate market has been red-hot since the pandemic started in March 2020. Home prices have risen across the board, but they are especially high in Vancouver, Canada’s most expensive housing market.
If you’re looking to purchase a home in the Greater Vancouver Area (GVA), you .... More »
The latest in mortgage news: record population growth to keep upward pressure on home prices + MORE Jul 21st
Canada's expected population growth will worsen the already limited housing supply and result in even higher home prices, according to a new report.... More »
Mortgages: The Digital Future Oct 7th
Most of the financial world is already heavily invested in online distribution. And then there’s the mortgage business. Our industry is scampering to catch up. But catch up it will…and soon. That was the vivid takeaway from last week’s 2nd annual Digital Mortgage Conference in San Francisco. I.... More »
Latest in Mortgage News: Stress-Test Rate Drops After a Year of No Change Jul 20th
The benchmark posted 5-year fixed rate, which is used for stress-testing Canadian mortgages, fell yesterday in its first move since May 2018. The Bank of Canada announced the mortgage qualifying rate drop to 5.19% from 5.34%. This marks the first reduction in the rate since September 2016. The rate .... More »
2024 housing market and interest rate forecasts + MORE Dec 28th
2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there's optimism that 2024 will be the year of rate relief..... More »
Making it all work
– moneysense.ca
(Photograph by Jennifer Roberts)We invited our readers in January to take an active role by writing to us and explaining in a few sentences why they needed a personalized money makeover with a MoneySense Approved Financial Advisor. We got close to 400 letters and, in the end, chose two couples and a single person with financial concerns that anyone can relate to. Click here to learn more.
Samu and Mandy’s financial dilemma
When we first met Sammu and Mandy Dhaliwall earlier this year, the Brampton, Ont. couple was in the middle of finding out just how financially disruptive a growing family could be to a sound financial plan. This year was especially challenging for the Dhaliwalls as they dealt with the competitive challenges of raising three kids under the age of five, while finding a way to pay off their mortgage and save for the future.
Back in 2013, realizing their suburban Toronto home needed extensive basement renovations to create more kids’ play room, they ran up a hefty bill on their line of credit, which stood at $90,000 last spring…
Wrestling through competing priorities
– moneysense.ca
(Photograph by Simon Willms)We invited our readers in January to take an active role by writing to us and explaining in a few sentences why they needed a personalized money makeover with a MoneySense Approved Financial Advisor. We got close to 400 letters and, in the end, chose two couples and a single person with financial concerns that anyone can relate to. Click here to learn more.
Shannon and Marcin’s financial dilemma
Shannon Jarrett and her partner Marcin Duran share a home and domestic life in Hamilton, but as of last March, they were by and large living separate financial lives. They didn’t share bank accounts but they did share expenses. Marcin paid the mortgage and made all insurance and car payments while Shannon paid for everything else to run the household. But regarding budgeting and finances, Shannon and Marcin were often at loggerheads. They wanted—and needed—some common ground to get their goals aligned.
For Shannon, saving was the largest concern. She always put away $200 a month but couldn’t get Marcin to do the same…
