Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
The best credit cards for newcomers to Canada for 2024 + MORE Feb 2nd
Credit Cards
The best credit cards for newcomers to Canada for 2024
As a newcomer, you’ll want a credit card that offers you the best value without having a long Canadian credit history. Here’s a list of our favourite cash back, rewards, low-interest cards and more.
.... More »
Making sense of the markets this week: September 24, 2023 + MORE Sep 23rd
Allan Small, Senior Investment Advisor at the Allan Small Financial Group with iA Private Wealth, shares financial headlines and offers context for Canadian investors.
No surprise: Canada’s inflation rate ticked up in August
Canada’s annual inflation rate jumped to 4% in August, up from 3..... More »
National Bank says its consumers remain “resilient” with $1 billion worth of excess liquidity Oct 2nd
National Bank reports that its mortgage clients have been resilient in the face of sharply higher interest rates, thanks in part to high levels of liquidity..... More »
Canadians want to age in place and are turning to reverse mortgages to make that happen May 28th
More than 9 out of 10 Canadians want to be able to live out their retirement years in the comfort of their home, and reverse mortgages are increasingly being used to make that a reality..... More »
Part 1: Beating the Math: Why Politicians Are Failing Homebuyers and What you can do. Apr 21st
If you are trying to buy a house in Canada right now, the math is completely broken. Instead of treating the root causes of the housing crisis, politicians are serving up PR stunts that do very little to actually put keys in the hands of hardworking Canadians. Let’s look at the reality of the .... More »
We made money on the Toronto housing market. Now what?
– moneysense.ca
We had a plan. We considered the bank’s low interest rates, the rising real estate prices and record low inventory and thought it was the perfect time to cash in on the Toronto real estate market by moving out of the city. My husband and I were going to move from Ontario to Manitoba, selling our East York detached home and moving back to my hometown of Winnipeg, with our 15-year-old son in tow. We were aware Winnipeg home prices were also on the rise—but still nowhere near Toronto levels. And, since we had purchased our home in 2007, we were poised to make a substantial profit on the sale. This was our chance to be mortgage-free and able to actively save for retirement.
The house went up for sale in April 2021 and sold in early May for $1,075,000. After realtor fees, closing costs and other debts were paid, we walked away with about $688,000. Our plan was to buy a three- or four-bedroom home in Winnipeg, with a large yard and a pool. We were prepared to spend between $500,000 and $550,000 on a new home, leaving us with some money to spend on furniture and a new car and to invest the rest…
