By Mark Weisleder When you apply for a mortgage, you usually just ask about the term, amount, interest rate and monthly payment. Not many people understand the difference between a conventional mortgage and a collateral mortgage. Yet many banks are now asking borrowers to sign collateral mortgages — and it could result in them being […]

By Gail Vax-Oxlade Some people think that credit cards are evil and that keeping kids on the other side of the moat is the only way to keep them safe. But that assumes that credit card companies will never breach the castle. Hey, it’s only a matter of time. Far better that kids know what […]

OTTAWA — Canada’s annual inflation rate increased to a higher-than-expected 3.1% in August from 2.7% in July, in part due to higher prices for passenger vehicles and electricity, Statistics Canada data reported on Wednesday. Market analysts had expected the annual rate to hit 2.9% in August. Prices grew by 0.3% in August from July, greater […]

Canadians are confident that they have a good handle on their personal debt and believe they’re in better financial shape than most, a new survey suggested Wednesday. The poll, conducted by Ipsos Reid and released by the Royal Bank of Canada (TSX: RY), suggested nearly 70 per cent of Canadians have achieved non-mortgage debt levels that […]

The average Toronto household is carrying nearly $40,000 in debt on top of their mortgage, according to new statistics from Environics Analytics. And the households carrying the largest debt are in Toronto’s toniest neighbourhoods, including the Bridle Path, Rosedale, Leaside and The Beach, where single-family homes are pushing past the $1-million mark. “There’s always the […]

TORONTO – The global economic turmoil that roiled stock markets around the world in August did little to dampen the Canadian housing market, which continued to show strong gains in sales and prices. Analysts expressed universal surprise on Thursday that the wildly volatile swings on North American, European and Asian stock markets had little impact […]

With the most recent interest rate announcement last week, and the knowledge that interest rates are set to remain low for the foreseeable future, the debate for variable rate mortgage over fixed rate has gained new momentum. “With short-term rates now likely to stay at very low levels, and long-term rates testing record lows, whether […]

By Mark Weisleder I am often asked whether a seller should agree to open houses when they put their home up for sale. Some say it helps the agent find new clients and does nothing to sell the home. Others say it is necessary to find the largest number of potential buyers. Which is correct? […]

By Sunny Freeman The cost of home ownership in Canada rose for the second straight quarter, but recent global market and economic turmoil could actually help keep a lid on expenses by keeping interest rates low, RBC Economics reported Monday (PDF). During the second quarter of 2011, the proportion of pre-tax income required to service the […]

By Dana Flavelle Canadian retailers say they welcome the opportunity to explain to a senate hearing why consumers pay more for some items in Canada than in the U.S. The Retail Council of Canada was responding to federal finance minister Jim Flaherty’s call for a senate inquiry into complaints about the Canada-U.S. price gap. “Canadians […]