Mortgage rates haven't moved much this week, and 2.99% for a 4 year fixed term is still available on owner-occupied properties (including owner occupied rentals if you happen to have a du, tri, or fourplex and live in one of the units). Five year fixed are hovering around 3.29% - 3.49% depending on the lender (and whether or not you want a full service mortgage - so 'no frills' offers are lower), and the variable 5 year is anywhere from 2.60% … [Read more...]
Looking to Renovate, Save Money, AND Be Eco-Friendly?
Attention all home owners! The cost of repairing and upgrading your home's furnace, insulation and windows has never been cheaper! Whether you have recently purchased a home, are thinking of selling, upgrading furnaces, ensuring proper and adequate insulation, or converting to a instantaneous hot water heater can only add to the value of your home. The federal government (through National Resources Canada) has re-launched their ECO Energy … [Read more...]
Lending Yourself Your Own RRSP Money
Paul E. Croy Some years back, while working as a Branch Manager for a Canadian Trust Company, I was given an opportunity to gain experience in the area of using your own RRSP to fund a “Non Arm’s Length” Mortgage. Proceeding to then give several seminars on the topic, I went a long way to establish myself as somewhat of a local expert. Recently however, while having coffee with a close friend, it came to my attention that to this date the … [Read more...]
Canadians Confident About Home Ownership
TORONTO, March 9 (Reporting by Ka Yan Ng; editing by Peter Galloway) Canadians are not only confident that they are assiduously paying down their mortgages, but they also believe they have the means necessary to weather a drop in house prices, contrary to worries that household debt is out of control, a poll showed on Wednesday. Almost three-quarters of Canadians, or 73 percent, believe that they or their families are well-positioned in the … [Read more...]
Canadian Credit Card Debt Dropped During Holiday Season
The Canadian Press TORONTO – There was a surprising drop in the amount borrowed on credit cards by Canadians during the holiday-laden fourth quarter, but overall non-mortgage debt went up substantially across the country, a credit analysis firm reported Wednesday. TransUnion said average total debt per Canadian consumer, excluding mortgages, was $25,709 in the fourth quarter of 2010 — up 5.6 per cent from $24,346 in the comparable period of … [Read more...]
