What Is Libor – and How Can It Affect Me?
Economic News / Growing Your Money / Savings

What Is Libor – and How Can It Affect Me?

Recent finance headlines are full of news on the Barclays Libor scandal. For those not familiar with the global interbank lending interest rate, the news puts into question the validity of trillions of dollars in loans granted between 2006 and 2008. Will Canadian finances be affected? If their bank used this benchmark rate to trade with international financial institutions during this time period, they very well could be. Continue reading »

New Canada Mortgage Rules Go Into Effect Today
Buying A Home / Mortgage News / Mortgages

New Canada Mortgage Rules Go Into Effect Today

The days of 30-year high ratio mortgages are over as the mortgage rule changes announced June 21st by the Department of Finance go live today. While the changes have been put in place to cool an overly aggressive housing market and curtail Canadians’ debt to income ratio levels, it’s the short term implications that have everyone from first time home buyers to brokers wondering – what’s it going to cost? Continue reading »

Canada’s GDP Data: Don’t pop the Champagne just yet
Economic News

Canada’s GDP Data: Don’t pop the Champagne just yet

On Monday Statistics Canada reported the Canadian economy grew more than expected in August. Real GDP rose 0.3 per cent. Economists were expecting 0.2 per cent. I know, not exactly blowing past expectations, but better than expected is nicer than the alternative. But there are still a number of head winds that Canada is facing that make the third quarter results harder to predict. Continue reading »

Canadian Housing Market Update – Dec 2008
Mortgage News / Mortgages

Canadian Housing Market Update – Dec 2008

The CMHC released their latest Canadian housing market update, called Housing Now, in December 2008 and it includes great info on the state of the Canadian housing market as of Q3 2008. In brief housing starts declined, house prices and residential mortgage credit were actually up, with house sales declining. This is despite the fact … Continue reading »