Dana FlavelleBusiness Reporter With Christmas less than two weeks away, Canadians are still in a frugal mood, the latest surveys of shoppers’ intentions reveal. Only 6 per cent of Canadians say they plan to spend more on gifts this year than last year, while 41 per cent say they plan to spend less, an Angus […]

Globe and Mail UpdatePublished Monday, Dec. 12, 2011 Risks Associated with Buying Pre-Construction Buying pre-construction real estate is really a leap of faith. As much as five years could pass from the time you sign the offer until you get the keys to your unit. Many “moving parts” could affect how long it takes, and […]

By Madhavi Acharya-Tom YewMoneyville.caCanadians have gone from a standing start 20 years to owing $219 billion on lines of credit today. Credit line use is growing faster than mortgage debt and now accounts for 12 per cent of all consumer debt owed by Canadians.The stories revealed that home equity lines of credit have become popular […]

By Josh Rubin | Tue Dec 06 2011 Mortgage rates could be drifting up again soon, even if the Bank of Canada is standing pat for now, experts say. Already over the last few months, variable-rate mortgages have started to climb, erasing much of the advantage they had over traditional fixed-rate mortgages, says Kerri-Lynn McAllister, community […]

By Tom McFeat, CBC News  Posted: Dec 5, 2011 It’s a decision that millions of Canadian homeowners struggle with repeatedly during their time as homeowners: Do they choose the security of a fixed-rate mortgage, or opt for the flexibility (and usually lower cost) of a variable rate and hope that rates don’t spike higher? But right […]

Garry Marr  Dec 3, 2011 Are Canadian homeowners really that much of a safer bet than the Italian government? It’s an interesting question given that Canadians can lock into a five-year mortgage at a rate just above 3%. There’s more than one European government that would like to borrow at that rate. The reason Canadians can […]

Financial Post Staff  OTTAWA — Canadian homeowners are doing a good job of paying off their mortgages early, according to the Canada Mortgage and Housing Corp., which released its third-quarter results Tuesday. While mortgage repayments can be spread out over 30 years, the CMHC reports that the average amortization period for mortgages insured by the […]

ROMA LUCIW Globe and Mail Blog After years of whipping out their credit cards and tapping into lines of credit, there is further evidence that Canadians are thinking twice before taking on more consumer debt. A quarterly analysis from credit bureau TransUnion showed that the average Canadian’s non-mortgage debt was $25,594 in the third quarter of 2011. […]

TARA PERKINS AND JANET MCFARLAND Globe and Mail Canadians are getting the message on debt. After months of warnings from senior officials like Bank of Canada Governor Mark Carney, consumers are pulling back on their borrowing. In particular, the rate at which they are racking up new mortgage debt has slowed, according to a new analysis by […]

ROB CARRICK From Tuesday’s Globe and Mail Debt junkies, here’s how to break your borrowing habit by breaking your mortgage. Warning: This will take discipline. If you follow this plan, you’ll commit yourself to a major debt paydown that will leave you little or no room to pay for new stuff on credit. But your […]