New Year, New Mortgage Rules: Why You’ll Soon Have a Harder Time Qualifying for a Mortgage
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Lifestyle / Lifestyle News / Loans / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / Personal Finance News / RSM News / Your Budget

New Year, New Mortgage Rules: Why You’ll Soon Have a Harder Time Qualifying for a Mortgage

In 2018, new Ontario mortgage applicants likely won’t be able to afford the same home, as stricter mortgage rules come into place. And while those with a fixed rate mortgage are not impacted by interest rate increases implemented by the Bank of Canada, their affordability will be affected as well. For example… Continue reading »

How Interest Rate Changes Affect Your Variable Rate Mortgage
Buying A Home / First Time Home Buyers / Home Ownership / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / Refinancing and Renewing / RSM News / Your Budget

How Interest Rate Changes Affect Your Variable Rate Mortgage

Fixed rate mortgages are pretty straightforward, but a variable rate mortgage depends on the Bank of Canada’s overnight lending rate. So what happens if that rate should change? Read on to find out! Continue reading »

My New Year’s Resolution: Beef Up My Emergency Fund
Savings / Savings News / Your Budget

My New Year’s Resolution: Beef Up My Emergency Fund

This was a tough year for me. I was laid off abruptly in April 2011 from a job that I thought was solid and found myself in a situation I had never been in before. I was worried I hadn’t saved for a rainy day and all I had was my RRSP that I was unable to dip into without paying a huge penalty. My New Year’s promise is to increase the amount of after tax income I put away from 10% to 15%. Continue reading »