Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Opinion: When another refinance may be the wrong answer + MORE Jun 20th
As equity shrinks and household debt rises, some homeowners are finding that another mortgage may only delay a deeper financial reckoning..... More »
U.S. existing-home sales rose to eight-month high in October + MORE Nov 21st
Sales of previously owned homes in the U.S. rose in October to the fastest pace in eight months, as buyers took advantage of lower mortgage rates and gained the upper hand over sellers in some markets..... More »
Q3 2020 Bank Earnings – An Update on Big Bank Deferrals Sep 11th
The country’s Big Six banks provided an update on the state of their mortgage deferrals, with each reporting varying results in terms of getting those borrowers back to making regular payments. Both RBC and National Bank of Canada saw their mortgages under deferral drop substantially from Q2 t.... More »
How to protect yourself from identity fraud in Canada + MORE May 27th
In 2024, Canadians lost a jaw-dropping $638 million to fraud, according to the Canadian Anti-Fraud Centre (CAFC). That’s already a hefty $60 million more than losses reported the previous year, but the true total is likely much, much higher—experts at the CAFC say that less than 5% of scams are .... More »
Bond Yields Are Rising. Are Fixed Mortgage Rates Next? + MORE Sep 29th
Some of Canada's Big 6 banks made headlines last week by lowering fixed mortgage rates, but might they soon have to pull a U-turn?.... More »
Mindful Spending and Saving Through COVID-19
– ratesupermarket.ca
People are finding new ways to run errands and complete daily tasks while the COVID-19 emergency orders are in place. Although these are challenging times, quite a few services can be ordered straight to your doorstep. Shopping is still at our fingertips and seemingly more accessible than ever.
For some, this can result in panic shopping or buyer’s remorse. The continuing lack of routine can throw off your finances and leave you ill-prepared for financial emergencies.
How to Plan Your Purchases and Avoid Overspending
Forming a strategy can help you make mindful purchases, steer clear of debt, and add to your savings. To start, you’ll need to create a budget.
Build a Budget
To create a budget, you’ll need to list your income (the money coming in) and all your monthly expenses (the money going out). Generally, these monthly expenditures will fall under one of two categories, necessary expenses and discretionary costs.
Necessary expenses are outgoing costs such as rent or mortgage payments, food, utilities, and other routine bills…
