The seventh annual State of the Residential Mortgage Market report, conducted by CAAMP (the Canadian Association of Accredited Mortgage Professionals) has found that consumers are worried about debt. The report, which included survey data from 2,000 Canadians (half of which were homeowners), asked participants to what extent they agree with various statements based on a 10-point scale: a response of 10 … Read More
Consumers paying more for home insurance but mortgage interest costs decreased in Aug
The Consumer Price Index (CPI) rose 3.1% in the 12 months to August, mainly as a result of higher prices for gasoline and food purchased from stores. This follows increases of 2.7% in July and 3.1% in June. On a seasonally adjusted monthly basis, consumer prices rose 0.3% in August. The 0.4 percentage point difference between the year-over-year increases posted in August and July was mainly the result … Read More
How to Build a Better Budget
There are many challenges when it comes to creating a solid financial plan. Whether you’re saving to buy your first home or hoping to invest in some property updates, now’s the time to focus on balancing your budget. The sooner you develop a realistic budget, the easier it will be to stick to, and the sooner you’ll be able to … Read More
Saving Strategies for Canadian Homeowners
Save Smart: How to Manage Money and a Mortgage According to a recent Canadian Payroll Association survey, nearly 60% of Canadians don’t have enough money in the bank to cover even one month’s worth of necessary expenses. Too many homeowners are living on the edge of financial disaster, spending money that they should be saving. If you’re finding it difficult … Read More
Mortgage Rates Stay Low – But For How Long?
Bank of Canada Governor, Mark Carney, confirmed on Wednesday that he has no immediate intentions to raise mortgage rates; however, Carney did confirm that “some” of the stimulus currently bolstering the system would be “eventually withdrawn.” Carney made these statements following the release of fresh data from the Canadian Real Estate Association stating that some of Canada’s urban housing … Read More