Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
CMHC’s Siddall Defends Policies, Provides Update on the FTHBI + MORE Nov 24th
For the second year, Evan Siddall, President and CEO of the Canada Mortgage and Housing Corporation, attended the National Mortgage Conference in Toronto to defend and provide updates on the agency’s programs and policies. He participated in a candid on-stage chat with Mortgage Professionals Canad.... More »
2020 – Year in Review + MORE Jan 7th
Now that the page has finally been turned on 2020, we wanted to take a look back at how mortgage rates fared over the course of what was a tumultuous year. It’s safe to say that COVID-19 stole the show in terms of the year’s biggest newsmaker. On the mortgage front, one of the biggest th.... More »
Latest in Mortgage News: Fixed Mortgage Rates Could Fall Over Coronavirus Fears + MORE Jan 29th
As fear grows over the deadly Wuhan coronavirus that has killed more than 100 people, it is now becoming the world’s—and Canada’s—latest economic headwind. That fear spread to financial markets on Monday, with the TSX falling 142 points and New York’s Dow Jones ending the.... More »
Buying vs. Renting: Homeowners Come Out Ahead, Study Says Oct 2nd
Despite higher home prices and larger mortgages, monthly housing costs are currently lower for homeowners—on average—compared to renters..... More »
Be Aware of Mortgage Penalties + MORE Nov 9th
Mortgage penalties are probably hated about as much as taxes—but tenfold. Particularly when those penalties reach into the five figures. Take this case of an Edmonton couple that was initially quoted $17,000 to break their five-year fixed mortgage early. But homebuyers need not fall into the trap .... More »
Mortgage Career of the Week
– canadianmortgagetrends.com
Company: Equitable Bank Position: Regional Business Manager Years of Experience Required: Minimum 5 years Licences or Registrations Required: No Location of Position: Vancouver, British Columbia Applicants may contact: careers@eqbank.ca Click…
Raising A Child Costs $233000: TD Study
– ratesupermarket.ca
Are you ready for the financial responsibilities of parenthood? Did you know raising a child can be as expensive as taking out a second mortgage on your house? Between diapers and diplomas, you could end up shelling out as much as $233,000, according to TD Canada Trust. From orthodontics, summer camp to post-secondary education, the expenses can really add up. The key is to plan ahead so you’re emotionally and financially ready before you bring home your bundle of joy.
Unexpected Child Expenses
Raising a child is expensive and it’s not getting any cheaper. The birth of a child brings new expenses you’ll have to budget for. Sports and extracurricular activities (30 per cent), vacations or summer camps (19 per cent), and clothing, toys and games (14 per cent) are among the top expenses that caught parents off guard.
“It’s important to work with an accredited advisor to create a long-term written financial strategy,” says Crystal Wong, Financial Planner at TD Wealth Management…
Long term is almost always more expensive.
– canadamortgagenews.ca
Ever wanted to change cell phone providers? How about internet providers? Move your investments or rrsps? Cancel that hydro or gas contract because you moved? And how about mortgages? When interest rates started heading down about 4 years ago, thousand of borrowers in fixed rate mortgages wanted to get out of their higher rates and […]
