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How condo insurance works Jul 25th
Condo insurance is a smart decision. Regardless of whether you just purchased a brand new loft or a cozy older suite, you’ll need to make sure your asset is protected.
While condominium insurance is not required by law like car insurance, often mortgage lenders or your building will require you .... More »
Oil slump has led to more empty apartments, CMHC says + MORE Jun 15th
It was a lot easier to rent an apartment in the oil-producing provinces of Alberta and Saskatchewan in April, the Canada Mortgage and Housing Corporation reported Monday..... More »
Should you borrow to pay expenses on an investment property? Nov 18th
Q. I have an investment property that I rent out. Now that I’m retired, I would like to use the income to supplement my retirement income. That would leave me with no money to pay the expenses on the property (mortgage payment, maintenance, utilities, etc.).
I’m wondering two things: One, can I .... More »
Don't Jump the Gun Locking Into a Fixed-Rate Mortgage + MORE Aug 30th
With mortgage rates likely about as low as they can go, it may seem like a sure bet to lock into a fixed rate. But homeowners should be focused less on rates and more on the bigger issues of affordability, eligibility and, most importantly, maintaining good credit.
First things first. Many people .... More »
Latest in Mortgage News: June Data Indicates a Housing Rebound. But Will it Last? + MORE Jul 13th
Home prices, sales and new starts are all rebounding, according to the latest June data. But some, including the Canada Mortgage and Housing Corporation (CMHC), say risks remain. This week, a slew of housing data was released from local real estate boards and the CMHC showing overall improvements in.... More »
Rates mixed at weekly US Treasury bill auction with 3-month bills highest in 3 weeks
– canadianbusiness.com
WASHINGTON – Interest rates on short-term Treasury bills were mixed in Monday’s auction with rates on three-month bills rising to the highest level in three weeks, while rates on six-month bills were unchanged.
The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.015 per cent, up from 0.010 per cent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.040 per cent, the same as last week.
The three-month rate was the highest since those bills averaged 0.020 per cent on Sept. 8.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.62, while a six-month bill sold for $9,997.98. That would equal an annualized rate of 0.015 per cent for the three-month bills and 0.041 per cent for the six-month bills.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged down to 0…
The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.015 per cent, up from 0.010 per cent last week. Another $24 billion in six-month bills was auctioned at a discount rate of 0.040 per cent, the same as last week.
The three-month rate was the highest since those bills averaged 0.020 per cent on Sept. 8.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.62, while a six-month bill sold for $9,997.98. That would equal an annualized rate of 0.015 per cent for the three-month bills and 0.041 per cent for the six-month bills.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged down to 0…
GICs: The problem with playing it safe
– moneysense.ca
Heather Walker, 59 (Photo by Philip Cheung)The problem
As a 59-year-old training administrator for a mining company, Heather is a member of her company’s defined contribution pension plan. She’s also mortgage-free. But in 2008 she suffered a 40% loss in her stock portfolio and has since slowly sold off all her high-fee mutual funds, putting her 100% in cash. “I have to pay more attention,” says Heather, who has started managing her own finances. After reading up on investing, she’s ready to rebuild her $200,000 portfolio—split evenly between registered and non-registered investments. She plans to add corporate bonds, but isn’t sure what to do about equities. “I have a low risk tolerance.”
The fix
Vancouver money coach Annie Kvick says losing 40% of your portfolio when you’re five to 10 years from retirement is stressful. But investing her entire portfolio in GICs and bonds is risky because Heather could lose her nest egg to inflation, or even outlive her money entirely…
