You might have seen the headline “HSBC crushes mortgage records with 0.99% variable rate”. No doubt about it, this is a great rate. However, it’s not for everybody. It is important to remember, like most deals, there are some restrictions. Among other things this offering is limited to high-ratio mortgages with a downpayment of less than 20 per cent. The reality is a higher interest rate may apply for non-owner-occupied properties, amortizations greater than 25 years and other exceptions to standard lending guidelines.Continue reading “Because not everyone fits into the same box”
If this year has taught us anything, it’s just how important an emergency fund is. An emergency fund, also known as a contingency fund, is money you set aside to pay for unexpected expenses. The reality is, most of us will likely have to deal with a financial emergency at some point in our lifetime.
Here are a few tips for getting started with an emergency fund.Continue reading “Finance Series – Part One: An emergency fund”
We’re celebrating Financial Literacy Month!
Join Senior Economist, Ted Tsiakopoulos and Mortgage Broker, Steve Garganis Thursday, Nov 12, 2020, at 1:00 PM Eastern Time for a chat about budgets, savings, debt, and more.
Register Now: https://buff.ly/3lhmUl3
- Interest Rates, Savings, Debt and Budgeting trends
- Good debt vs bad debt: How debt affects the economy, housing prices and financial stability
- Bankruptcy vs Consumer Proposal.
- Bank of Canada interest rate policy now till 2023 – Risks??
- Why the second line of defence (macroprudential policies) is necessary despite the recent rise in savings
- Where does the problem lie? Disaggregating debt to asset ratio by age and income
- Trends in financial literacy
- Disruptions coming post-COVID & importance of financial literacy & skills
In case you missed it check out the video below of our October 28th, Roundtable Discussion on Housing and Mortgage Market Insights…Continue reading “Housing And Mortgage Market Insights – Roundtable Discussion”
Did you hear the news? Or did you miss it? Last week the Bank of Canada announced they would stop buying Canada Mortgage Bonds. But it seems like nobody is talking about this.
Why should you be paying attention to this?Continue reading “What’s happening with Canada Mortgage Bonds?”