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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Am I Too Rich To Save?

January 12, 2012 by Rubina

The countries richest CEOs earn 189 times what the average Canadian does. According to the Canadian Centre for Policy Alternatives the average annual salary in this group is $8.38 million. By the time you read this, Canada’s top-100 earners have been paid in two weeks what it will take most of us 10 years to make. “The gap between Canada’s CEO elite 100 and the rest of us is growing at a fast and steady pace, with no signs of letting up,” says economist Hugh Mackenzie, who authored the report.
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Store Credit Card Alert

January 10, 2012 by Diane

It’s a classic hectic January shopping moment: you’re at the checkout, about to drop a pile on some last-minute deals, and the cashier asks if you’d like to sign up for the store’s credit card.The application process won’t take but a minute and you can get an even better deal on your purchase. Why not? Because there are some serious problems with store credit cards. They offer a sneaky way to reduce your credit rating, get yourself into debt and entice you to shop more.
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Mortgage Professional On The Front Line To Homeownership

January 5, 2012 by Rubina

Mortgage Professional On The Front Line To Homeownership

Increasingly Canadians looking to buy a house are seeking more information from the professional helping to secure their mortgage. They look to their mortgage expert for good financial advice, guidance and some level of consultation on what most likely is the biggest investment of their lives. Mortgage experts are now on the front line when giving advice to new homeowners on how much they should borrow and at what rate.
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Friday Mortgage Round Up: February 3rd, 2012

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

Am I Too Rich To Save?

Store Credit Card Alert

Mortgage Professional On The Front Line To Homeownership