Consolidating Debt in Retirement with The CHIP Reverse Mortgage

General 10 Mar

Consolidating Debt in Retirement with The CHIP Reverse Mortgage Managing debt is challenging at any age, but it can be especially stressful in retirement when income is limited. Many Canadians turn to debt consolidation to simplify payments and lower interest rates. However, traditional options—such as personal loans, refinancing, or home equity lines of credit—often require […]

Central bank makes eagerly awaited announcement on benchmark rate

General 24 Jan

The Bank of Canada has left its policy rate unchanged in its first announcement of the year, keeping rates where they are for a fourth straight decision but giving little indication of a timeline for possible cuts. The central bank revealed on Wednesday that its overnight rate, which leads variable mortgage rates in Canada, would […]

Canada lost 17,000 jobs in May, said Statistics Canada

General 9 Jun

The Bank of Canada cited continuing strength in the labour market in announcing its decision to raise its key overnight lending rate to 4.75 percent. By Josh Rubin Business Reporter Friday, June 9, 2023 A help wanted sign is seen in a storefront along Queen St. W. in Toronto. Strong job growth and a tight […]

Bank of Canada announces new rate hike

General 7 Jun

The central bank has returned to rate increases after a pause By Fergal McAlinden The Bank of Canada has announced a 25-basis-point increase to its benchmark interest rate, returning to a rate-hiking policy after hitting a pause in its last two announcements. The move, which brings that trendsetting rate to 4.75%, arrives amid a flurry of […]

10 Money Saving Tips!

General 6 Jun

When it comes to saving money, there are a lot of little things you can do that add up to make a big difference! Here are 10 of my favorite money-saving tips to help get you started today: Automatic Savings are one of the most effective ways to save because you can’t spend what you […]

Bank of Canada sounds warning on homeowner mortgage burdens

General 18 May

Nearly all’ mortgages will see payments increase by 2026 – but most households should cope The Bank of Canada has expressed its concern over households’ ability to absorb the shock of higher borrowing costs as a growing number turn to credit cards to service their debt loads. In its annual Financial System Review, released […]

Bank of Canada raises key interest rate for eighth time, to 4.5 per cent. What you need to know

General 25 Jan

By Josh Rubin Business Reporter Wed., Jan. 25, 2023 Central bank signals its rate-hiking campaign could finally be over, while it “assesses the impact of the cumulative interest rate increases.” The interest rate hikes are over — probably. The Bank of Canada raised its key overnight lending rate for the eighth straight time Wednesday morning but […]

Bank of Canada says some Canadians could see mortgage payments jump 45% in 2025-26

General 9 Jun

Bank of Canada says some Canadians could see mortgage payments jump 45% in 2025-26 Central bank highlights rising debt loads and falling home prices among risks The Bank of Canada released its annual financial system review Thursday. Some Canadians who took out mortgages in 2020-21 could see their monthly payments jump by as much as […]

What is mortgage refinance?

General 28 Apr

Mortgage Refinance Learn what it means to refinance your mortgage loan and how this could help you reach your goals. Refinancing your mortgage means renegotiating your existing mortgage loan agreement. You might do this to consolidate debts, or you could use the equity in your property to increase your mortgage loan amount for large expenses. […]

Bank of Canada Warns Rates May Climb Even Higher Than “Neutral”

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