Friday Mortgage Round Up: February 3rd, 2012

February 2, 2012 by Laura

Friday Mortgage Round Up: February 3rd, 2012

We said “goodbye” to the super low 2.99% 5 year fixed rates last week and said “hello” to a still very competitive 3.08% 5 year fixed rate this week. For most rate shoppers, this increase of 10 bps can be traumatizing. Consumers tend to drool over a mortgage rate that is even just a few percentage points (or more) below other advertised rates. But let’s not forget that not all low rates are what they seem. Some super low mortgage rates typically signal a no-frills product that isn’t fully loaded with the features and benefits that might be important to you. Is shopping for a mortgage rate just like buying anything else; you get what you pay for?
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My Debt to Income Ratio is Higher than 153%: But That’s Okay!

February 2, 2012 by Rubina

My Debt to Income Ratio is Higher than 153%: But That’s Okay!

Experts will tell you your debt-to-income ratio is one of the best ways to gauge your financial position. The media often quotes the Bank of Canada saying Canadians are at dangerously high levels of debt at 153 per cent. But what does that mean? I’ve spent dinner parties arguing how to properly calculate debt to income ratios and how much is too much. There are many schools of thought on how to asses your financial health. Here are a few.
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Financial Planning: How to Spot a Marketing Ploy

February 2, 2012 by George

Financial Planning: How to Spot a Marketing Ploy

When we look at the financial planning world and the individuals preparing plans, you might be surprised to learn that the overwhelming majority of these individuals are actually working as commissioned sales people or on salary and bonus where almost every one of them have sales targets set by their employers.
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Ways to Save on Home Insurance

February 1, 2012 by Allan

The Insurance Bureau of Canada has warned, in the wake of three consecutive years of cumulative billion-dollar weather-related insurance claims across the country, that Canadians could face home insurance premium hikes of 10 to 20 percent in the next two years. Here are some ways you can lower your annual home insurance bill.
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Own a Home? Get Money Back!

February 1, 2012 by Diane

The most expensive thing you will ever buy, or devote your money to on an ongoing basis is your home. So, when you have a big expense, the smart thing to do is seek out tax incentives. And trust me, they’re out there! Perhaps they’re not as numerous and as generous as those south of the border, but there are tax programs that can benefit you right now.
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