Paying Down Debt A Top Priority In 2019
It may be a new year, but not necessarily a happy one for everyone. A new CIBC poll finds paying down debt is the top financial priority for Canadians heading in 2019. Almost a third (29 per cent) say they've taken on more debt in the past 12 months, citing day-to-day expenses as the key…
How Retirees Can Maximize Their Tax Savings
While retirees may be exempt from the morning alarm and the daily grind that follows, they unfortunately aren’t exempt from paying tax – and filing as a retiree can be complicated.
Report: New Mortgage Rules Keeping You From The Home Of Your Dreams?
The mortgage market has absorbed a significant amount of change over the past several years with the most recent update being introduced in January 2018. Among these changes is the requirement for federally regulated financial institutions to introduce a qualifying rate for applicants that can be 2 per cent higher than the rate being offered.…
Chinese Media Helps Immigrants Feel At Home In Canada
Chinese immigrants are wealthy and well educated but language remains a barrier.
Finance: New Mortgage Rules Kick In January 2018
For the sixth time since the financial crisis in 2008 Canada’s top banking regulator is making it harder for Canadians to qualify for a mortgage. Starting in January 2018 Canadians applying for a new mortgage will be subject to a stricter set of rules to prove they can afford the loan.
How Donald Trump Just Raised Many Mortgage Bills
In one of his very first substantive moves as president, Donald Trump signed an executive order Friday that will result in a hike to many first-time homeowners’ mortgage bills.
Hang On Tight: Your Finances Will Face Dramatic Trump-led Uncertainty
In 2017, your financial well being will be driven to an unprecedented extent by factors outside Canada. Mr. Trump is the most notable, but also keep your eyes on Europe. Troubled banks, struggling economies and political instability could upset financial markets globally.
Canada’s Largest Private Mortgage Default Insurer Is Matching Cmhc’s Premium Hikes
It took Canada’s second largest mortgage insurer about 12 hours to match premium hikes to mortgage default insurance announced January 17 by Canada Mortgage and Housing Corp, the Crown corporation that controls a majority of the market.
Bank Of Canada Governor Stephen Poloz Says Rate Cut Remains On Table
The Bank of Canada Governor Stephen Poloz said January 28 he’s prepared to cut interest rates if new U.S. protectionist measures derail the Canadian economy.
Bundles Of Debt: Sidestepping Mortgage Rules
Canada’s subprime mortgage providers are increasingly teaming up with unregulated rivals to sidestep rules designed to clamp down on risky lending.