News

If you’re into economic policy, today was a jaw dropper. Stephen Poloz, the governor of the Bank of Canada, shocked markets today when he announced a .25 per cent cut in the bank’s key lending rate. The key rate had been at 1 per cent since 2010 and experts were…

Welcome to 2015! And with it a chance to make one New Year’s resolution that doesn’t involve a diet or a gym and should be easy to keep. Make a resolution about your mortgage. If you commit to putting a few extra dollars toward paying down your mortgage sooner. It…

Nothing says summer like roasting smokies over a campfire. It seems everything tastes better roasted.Smokies were on the menu during my family’s most recent tenting trip. But my wife Catherine, who was a vegetarian for 11 years before our boys were born, doesn’t venture beyond chicken or fish these days.…

Happy Summer! I hope you’re having a great season and getting outside for fun and relaxation. At the risk of being a party pooper, I want you to pause and think about your mortgage for a few minutes. And I want you to immediately increase your monthly payments. Something happened…

The changing lifestyles of Canadians are affecting how and where we live. Fortunately, mortgage lenders and insurers have created mortgages that meet these needs.The lowest possible down-payment is 5% of the purchase price. Down-payments can come from a number of sources and can include savings, Registered Retirement Savings Plan withdrawals,…

Mortgage rates are low and property values are stable, so it may make sense to refinance your home.Many people refinance their mortgages to take advantage of lower interest rates or pay off debts with higher interest rates. Othes will use the money to invest in Registered Retirement Savings Plans (RRSPs),…

Your credit score is the single biggest factor that lenders use in determining your interest rate when you apply for a mortgage. Yet most people don’t even know what a credit score is, let alone whether they have a high score or a low one. The sad truth is if…

Paying off your mortgage as quickly as possible is a great way to save money, build equity and free up funds for other investments that can lead to financial security. Both lump sum payments and monthly payment increases are effective ways to pay off your mortgage sooner. Normally, when you…

Instead of working harder, make your money work harder. Choose to live below your means and use the money that’s left over to make MORE money. Here are some tips.   Make another monthly payment—to yourself. With all the bills you have, it’s tough to start saving. So think of…