Q: My husband and I recently bought a new house in Stoney Creek, and my employer has just paid me a nice bonus for this past year. Should I use the extra cash to pay down our mortgage or should I put it in my RRSP? I don’t want us […]
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Not everyone is on the same page when it comes to where mortgage rates in Canada are headed. Many observers expect the Bank of Canada will continue to increase the overnight rate, which influences the mortgage market. Capital Economics, a London-based economic research consultancy, is not one of them. “By […]
The Bank of Canada left its trend-setting interest rate untouched Wednesday as fresh economic developments — including the sharp drop in oil prices — threatened to delay future hikes. The central bank’s decision Wednesday maintained its trend-setting rate at 1.75 per cent. It followed a quarter-point increase at the bank’s […]
If you lived through the recent real estate and economic recessions, the very headline of this article might cause you some emotional pain. Less than ten years ago, the country was swept with an economic crisis the likes of which our generation had never seen. I personally remember driving down […]
Superstitions, stigmas and the supernatural – whether you believe in them or not, they can have a very real impact on how long it takes to sell your home and the price you’ll get for it. While the thought of a haunted house and other-worldly roommates can put the scare […]
As was widely expected, the Bank of Canada (BoC) hiked the overnight rate to 1.75 percent. Higher interest rates inevitably lead to higher mortgage rates, which means industry players keep a close eye on the BoC’s hikes, and how they could affect Canada’s housing market. Rising rates could spook would-be […]
Imagine being just 20 years old and putting down a full 20 per cent — $68,000 — on your first condo. Plus, you have cash left over for closing and moving costs, even some money for decorating. At 20 per cent down, you don’t even have to pay for mortgage […]
Location is everything when you’re searching for a home. Finding your dream neighborhood may seem like the easiest part, but once you factor in budget, non-negotiable home features, and proximity to the things you can’t live without, it may be less obvious where you should live. When it comes to […]