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Latest News
Canada mortgage renewal shock coming: CMHC - CityNews Vancouver + MORE Nov 10th
Canada mortgage renewal shock coming: CMHC CityNews VancouverBank of Canada warns mortgage borrowers may face higher rates upon renewal CBC News2.2M mortgage holders will face ‘interest rate shock’ in next 2 years: CMHC Global NewsMortgage holders concerned about.... More »
New mortgage rules take effect today; more may be coming on Monday, economist says + MORE Dec 15th
Two sweeping mortgage reforms take effect today, December 15, targeting housing affordability and easing financial pressures—changes that may be followed by more announcements this week..... More »
Most mortgage borrowers to see payments rise 34% to 54% vs. early 2022: Bank of Canada + MORE Dec 22nd
If you had a mortgage as of February 2022, chances are you will be facing a payment increase before the end of 2025..... More »
Mortgage Digest: MPC National Conference edition + MORE Oct 31st
Highlights from this week’s MPC National Conference in Montreal, including key insights from the panel discussions, keynote speakers and concurrent sessions..... More »
RBC warns of rising mortgage losses through 2025 with upcoming renewals + MORE Sep 4th
BoC rate cuts will ease pressure, but mortgage renewal shocks still loom, RBC says.... 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…
