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While there is no evidence that Canada is experiencing a housing bubble, there is plenty of evidence that Canadians are developing a greater and greater debt burden. A recent Vanier Institute of the Family study suggests that the debt-to-income ratio for households in Canada is at 145%. This is the highest it has ever been [...]
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The RRSP deadline is on Monday, and so you are probably thinking about the best way to top up your contributions. With the recession ravaging finances, and the debt hangover from the holidays likely still dogging you, you might be tempted to borrow money for your RRSPs. Some people take out a line of credit [...]
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The Canadian Association of Accredited Mortgage Professionals, better known as CAAMP, has released new data on a recent research outlining that Canadian home owners and lenders are both very cautious with mortgages.
The new research data released January 14, 2010 gathered information throughout 2009 on approximately 40,000 mortgages. The data represents about 1/6th residential mortgages signed [...]
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The primary factor in determining your eligibility for a mortgage is, of course, your credit history. Lenders score your credit history with a program that generates a result called a FICO Score. Your FICO Score is determined by a point system based on your payment history: whether your payments have been made on [...]
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Image: graur razvan ionut / FreeDigitalPhotos.net
With the first week of the New Year wrapping up, you might be carefully substituting the burger joint for the salad bar and making those three weekly trips to the gym. But while many of our thoughts turn to sprucing ourselves up in the New Year, it can also [...]
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Regardless of the lack of snow in the GTA, the holiday season is in full swing, and our hearts may be open, our wallets are closed shut.
Many Canadians are still uncertain about the ‘recovering economy’ and are therefore trying to pinch every penny, with good reason. Businesses are taking notice, and therefore trying to keep [...]
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You finally want to own a place for yourself, something to call yours. You’ve worked hard to save up enough money to have a sufficient down payment, and you’ve kept your credit score at a reasonable number to look attractive to potential lenders. That’s usually the first step, and a great one! Now what do [...]
