By David Aston | From MoneySense Magazine The great financial quandary for many Canadians in their 20s and 30s is how to save for retirement and also buy their first home. The classic advice—made famous by David Chilton in The Wealthy Barber—is you should put away at least 10% of your pre-tax income for retirement, […]

By Susan PiggMoneyville Canadians are “well positioned” to weather a rise in interest rates and are heeding the warnings from Ottawa about the risks of being house poor, according to a new study that provides a fascinating glimpse of mortgage indebtedness. Some 83 per cent of Canadians have at least 25 per cent equity in […]

Garry MarrFinancial Post Canadians have been taking advantage of record-low interest rates to lock in their mortgages, a new survey suggests. The Canadian Association of Accredited Mortgage Professionals, in its annual spring release, says among the 3.8 million Canadians with a fixed rate mortgage, 14% chose to lock in during the past year. “This data […]

David PaddonThe Canadian Press TORONTO — RBC says home ownership was less affordable in most major Canadian cities during the first quarter, although Calgary and Edmonton bucked the trend. The latest RBC Economics report on home affordability says its index deteriorated sharply in Vancouver and to a lesser degree in Toronto, Montreal and Ottawa — […]

Barry CritchleyFinancial Post DBRS, the Canadian headquartered credit rating agency, has joined a long list of organizations that have weighed in on the matter of the Canadian residential housing market. Like many of those previous studies and against the background of concerns being raised by the federal government and the Bank of Canada, DBRS found […]

Julia JohnsonFinancial Post Canada’s economy is gradually recovering and is expected to grow by 2.25 % this year and 2.5 % in 2013, according to a new report by the Organization for Economic Co-operation and Development. Private consumption and investment will continue to be the primary drivers of growth in Canada, said the report, which […]

Fabio CampanellaSpecial to Financial Post Record low interest rates coupled with an overly extended bull market for Canadian residential real estate has some investors questioning the validity of investing in a rental property. Current economic indicators support these fears: mortgage rates scheduled to rise, a global economy not yet out of the recessionary trenches, residential […]

By Carola VyhnakMoneyville If no one mentioned it during the course of financing your new home, the term “mortgage insurance” could be an unwelcome surprise that stretches a tight budget even tighter. But it also comes strongly recommended, because it protects your investment if you die. Industry expert Yousry Bissada calls it “peace of mind […]

By Madhavi Acharya-Tom YewMoneyville Understanding the nuts and bolts of your mortgage may seem intimidating at first, but it’s not as difficult as it sounds. Learning more about how mortgages work could save you thousands of dollars in interest or penalties. There are three basic parts to a mortgage: the amortization, the term, and the […]

Andrew MayedaFinancial Post Canada’s banks, ranked the soundest on the planet by the World Economic Forum, aren’t immune to collapses triggered by falling housing prices, according to the government official implementing new mortgage rules. Previous failures of Canadian financial institutions were due to bad real estate lending and sharp falls in housing prices, and these […]