Where You Should Save Your Home Down Payment
Buying A Home / First Time Home Buyers / Growing Your Money / Home Ownership / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / RSM News / Savings / Savings 101

Where You Should Save Your Home Down Payment

Wondering where to save your home down payment for the best returns? Investing your savings can yield results, but come with plenty of risk. Read on to learn more about your options when savings for a home purchase. Continue reading »

Reasons Why a Rate Hike is on the Horizon
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Reasons Why a Rate Hike is on the Horizon

There’s speculation the Bank of Canada may raise its key interest rate at its next scheduled announcement on July 12, due to comments Bank of Canada Governor Stephen Poloz recently made to the media about the conditions needed for higher rates… Continue reading »

Cost of Mortgage is Going Up: CMHC Hikes Mortgage Insurance Premiums
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Cost of Mortgage is Going Up: CMHC Hikes Mortgage Insurance Premiums

If you’re applying for a mortgage with a small down payment, be prepared to pay a little more every month for default insurance. The Canadian Mortgage and Housing Corporation recently announced it will increase the premiums for ‘mortgage default insurance’ (also called mortgage loan insurance) effective March 17, 2017… Continue reading »

The Most Surprising Tip to Burn Your Mortgage Faster
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Lifestyle News / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / Personal Finance News / RSM News / Savings 101 / Savings News

The Most Surprising Tip to Burn Your Mortgage Faster

High home prices got you down? Many people, particularly millennials, feel like the dream of homeownership is out of reach, especially in Toronto and Vancouver – Canada’s most expensive real estate markets. However, buying a home and being mortgage-free… Continue reading »

Bank of Canada Update: Holding Its Benchmark Interest Rate
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Bank of Canada Update: Holding Its Benchmark Interest Rate

Bank of Canada Rate Update – December 7, 2016 As expected, the Bank of Canada is holding its benchmark interest rate at 0.5 per cent. The scheduled announcement today was in line with expectations. “Following a very weak first half of 2016, growth in the third quarter rebounded strongly, but more moderate growth is anticipated … Continue reading »

Is Holding onto Your Old Property When You Buy New a Good Idea?
Buying A Home / Growing Your Money / Home Ownership / Lifestyle / Lifestyle News / Mortgages / Mortgages 101 / Personal Finance / Personal Finance News / RSM News / Savings / Selling Your Home / Taxes / Your Budget

Is Holding onto Your Old Property When You Buy New a Good Idea?

Is it worth holding onto your current residence as an investment property when you buy new? We’re taking a look at the benefits and drawbacks and questions you need to ask yourself before making the decision. Continue reading »

RBC Second of the Big Banks to Hike Mortgage Rates
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Lifestyle / Lifestyle News / Mortgage News / Mortgage Rate Outlook Panel / Mortgages / Mortgages 101 / Personal Finance / Refinancing and Renewing / RSM News / Selling Your Home / Your Budget

RBC Second of the Big Banks to Hike Mortgage Rates

Just two weeks after TD Canada Trust hiked their prime rate, RBC has announced they’re bumping up their fixed mortgage rates anywhere from 25 to 40 basis points. Read on to find out how much more this may cost you and why fixed rates are rising in the first place. Continue reading »

The New Mortgage Rules: One Month Later
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The New Mortgage Rules: One Month Later

It’s been a month since the first of the new federal mortgage rules came into effect. Now, RBC has become the second of the five big banks to raise mortgage rates – effective Thursday. How else have these new rules impacted our purchasing power? Continue reading »

TD Canada Trust Hikes Prime Mortgage Rate – What’s Next?
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Lifestyle / Lifestyle News / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / Refinancing and Renewing / RSM News / Your Budget

TD Canada Trust Hikes Prime Mortgage Rate – What’s Next?

TD Canada Trust is the first bank to raise its prime rate for variable rate mortgages since new federal mortgage rules were introduced last month. So is this the beginning of a trend? Continue reading »