Share Bank of Canada Governor Mark Carney has put Canadians on notice that today’s low borrowing costs are likely to increase by midsummer, if not sooner. Almost a year ago, Carney decided to combat the recession by taking the unusual step of promising to keep the bank’s overnight rate are the record low of 0.25% [...]
Share Canada’s core inflation rate rose beyond the Bank of Canada’s expectations to 2.1% from 2%, however the central bank is unlikely to move up its target date for raising interest rates, noted a top economist. As we have heard from the Bank of Canada, higher inflation could bring about the Bank to raise the [...]
Share 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 [...]
Share For those people in Ontario who are thinking about buying or selling property this year, the expected arrival of the Harmonized Sales Tax (HST) on July 1, 2010 has caused some concern. How will the HST affect your real estate transactions? And are there any positive sides to this legislation? What is it? First, [...]
Share When you are deciding to buy your first home, one of the questions that often comes up is: how much should I pay for my down payment? The short answer is: as much as possible. We’ve all seen the havoc that some of the no-down payment mortgages in the U.S. have caused. Since buyers [...]
Share Today, it was revealed that the Canadian Federal government is considering making it more difficult for borrowers to get mortgages. Although nothing has been announced, the Globe and Mail reported that several proposals are being considered. The proposal that is getting the most consideration is the idea that borrowers will face greater scrutiny from [...]
