Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
The Mortgage Stress Test Has Already Increased for Some Borrowers Mar 23rd
All eyes have been on the Bank of Canada’s rate tightening and its impact on variable mortgages, but now there are fresh concerns given the flurry of recent increases to 5-year fixed mortgage rates..... More »
Incorporate Balance Transfer Offers into Your Arsenal Oct 20th
As mortgage professionals, we are sometimes asked to solve problems slightly outside the scope of our mandate. Naturally, we must take care not to position ourselves as tax experts, accountants or lawyers..... 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 »
Latest in Mortgage News: House Price Growth to Cool by End of Year: TD + MORE May 1st
TD Bank is forecasting that home prices have further to rise yet before finally starting to lose steam by the end of the year. “…with markets remaining historically tight, more near-term gains are in the cards,” wrote TD economist Rishi Sondhi in a recent report. But, with home pri.... More »
The Latest in Mortgage News: BoC’s Affordability Index reaches worst level since 1991 Aug 15th
Housing affordability deteriorated to its worst level in over 30 years, according to data from the Bank of Canada..... 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…
