Opinion: S&P Overstates Broker Fraud Driver + MORE Mar 22nd

Learn more about Canadian mortgage rates, rules and the latest news – read on!
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Watch: What Is the First-Time Home Buyer Incentive? + MORE Apr 7th

In 2019, the federal government introduced the First-Time Home Buyer Incentive, a program designed to make homeownership more affordable. But how does it work? Who’s it for? And is it always a good option for buyers? Through the First-Time Home Buyer Incentive, the government contributes to a .... More »
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Variable Mortgage Rates to Rise as Prime Rate Jumps to 3.20% + MORE Apr 16th

Variable-rate mortgage holders are about to see their interest costs rise again after Canada's Big 5 banks announced a 50-basis-point hike to prime rate on Wednesday..... More »

The latest in mortgage news: uninsured posted rates at decade-highs + MORE Mar 11th

Uninsured posted rates from Canada's Big 6 banks have skyrocketed over the past year, according to data from the Bank of Canada..... More »

70% of Scotiabank’s mortgage originations in Q1 were multi-product deals + MORE Mar 1st

Scotiabank is reporting success in its efforts to grow its deposits and increase profitability by doing more cross-selling to new mortgage clients..... More »

How financially viable is your rental property? Apr 13th

After rising steadily in many cities across Canada for many years, real estate has been on a particular tear over the past year—and rental property investing has become an area of interest for plenty of people as a result.  But a soaring market isn’t a guarantee of success. If you’re thinking.... More »
RRSP, RESP, TFSA or Mortgage prepayment… Which offers the best bang for my buck?
Trying to decide what’s the best move can be difficult… and, I must admit, this isn’t an easy subject to tackle. There are so many opinions! But it’s important enough that I’m going to put my two cents into the discussion. (My final recommendations are listed at the bottom if you want to fast forward.)
First, let’s come to the understanding that we’re all different and have unique needs. You must first ask for professional advice in order to make up your own mind. Having said that, I think that, for me, this is actually a very easy decision.
RESP – If you have kids, put money into a Registered Education Savings Plan. The government gives you 20% on a max contribution of $2,500/year per child. That’s $500 in free money! Just be careful not to invest in any risky funds or stocks.
TFSA – If you have some extra cash then, yes, put those funds into a Tax-Free Savings Account. You can contribute $5,000/year and any unused contribution limit carries forward each year…

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Opinion: S&P Overstates Broker Fraud Driver

– canadianmortgagetrends.com

A few weeks ago, S&P said Canadian bank risk was rising, and it blamed mortgage brokers in the process. The rating agency wrote: “…The growing share of residential mortgages originated via brokers, compound the risks of high household debt and house prices…As brokers do not bear credit risk for the residential mortgages they initiate, and […]

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