Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.
The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend as needed. Many successful investors have been doing this for decades. Borrowing to invest makes smart financial success. Don’t let anyone tell you differently.
We’re seeing more reasons for Canadians to get a secured line of credit now: Age; Income; and Qualification.
Continue reading “50+ with little or no Mortgage? You Need a Line of Credit!”
We’ve seen mortgage rates drop steadily over the past three months. At the beginning of this year, we saw fixed rates approaching 4%. And, today, we’re seeing them sit around 3%.
WARNING: These rate wars could come to an end as recent employment figures skyrocketed all estimates… stay tuned!
This is like the perfect storm. Fewer mortgage transactions across Canada + Declining investor confidence + Inverted bond yield curve. Put it all together and you get a rate war. And for a refreshing change, consumers aren’t the victims. The banks are settling for a smaller profit margin.
Continue reading “It’s war. Mortgage Rate Wars. You could win with Big Rate Cuts!”
With warmer weather comes a renewed energy and hope for the coming months. It’s also the official start of the Spring housing market.
Are you considering buying a home? If so, here are a few things you should know before you head out house hunting.
Continue reading “Top 3 Things Homebuyers Need to Know this Spring”
I’d like to think the Total Net Worth Program reintroduced by a lender recently is an indication of what’s to come!
I’m excited about this program. It allows borrowers with good net worth to gain access to money. This is old-school lending – nothing new – but it’s a comeback worth celebrating!
Continue reading “Is Common-Sense Lending Making a Comeback?!”
Rate forecasting isn’t rocket science – it’s more common sense than you think! But, it requires a clear mind to make sense of all the rubbish that’s being published these days.
I’ve been forecasting for a while now that interest rates would start to come back down this year. Currently, interest rates are down by around 0.4% and will come down further.
WHY ARE RATES FALLING? Continue reading “Mortgage Rates have Dropped and Will Fall Further”