Category Archives: Financial Tips

Mortgage Changes Could Happen Before March

Tougher mortgage requirements could be on the horizon for Canadian homeowners, according to analysts surveyed by a recent Reuters poll. This comes on the assumption that housing prices will cool off this year. Experts anticipate that housing prices will climb just 0.1% this year, a considerable decrease from the 0.9% year-to-year increase seen in 2011.

Ten out of 14 economists polled by Reuters answered “yes” when asked if they thought Ottawa would step in and tighten mortgage rules within the next 12 months. If Finance Ministry Jim Flaherty were to adjust requirements it would be his fourth intervention in the nation’s real estate market in as many year.  Continue reading →

Should You Pay Off Debt or Invest in Your RRSP?

With the RRSP deadline looming, many Canadians are trying to make sense of their investment options. Personal debt levels in Canada have hit record highs, most of us don’t have a pension to fall back on and our retirement savings are far from adequate. Which leads us to the perennial problem: Should Canadian’s focus on paying off their mortgage and lowering debt or invest in RRSPs?  Continue reading →

More Rules Rumoured for Hot Canadian Real Estate Market

The Government of Canada is considering imposing stricter rules on mortgages due to the nation’s seemingly overvalued housing market. Bank of Canada’s Governor, Mark Carney, and Finance Minister, Jim Flaherty, have been focused on the nation’s rising debt load for more than a year, stating that things must change in order to avoid serious economic repercussions. Ironically, instead of encountering a doomsday outcome, the Canadian real estate market has continued to boom as rates remain low and buyers maintain an optimistic outlook. Continue reading →

Why Now is a Good Time to Buy

Thinking about buying a home? Well, stop thinking and start looking. The stars have aligned in the Canadian real estate market, creating what many in the industry are calling “the perfect storm” of market potential. From condos to single-family homes, now’s the time to lock in a mortgage rate and enter the world of real estate investing. Continue reading →

Getting to Know Your Debt-to-Income Ratio

Do you know your debt-to-income ratio? If you’re like most Canadians, the answer is no. Unfortunately, failure to fully understand this important element of your financial portfolio could cause you grief when it comes time to secure a mortgage pre-approval. Luckily, calculating your debt-to-income ratio is easy – all you need is a good financial calculator and a few necessary numbers. Continue reading →