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Variable rate may no longer win

The answer to the age-old question of whether to go long or short on your mortgage is unclear yet again. The popular variable-rate product tied to prime that helped people buy a lot more house with more debt is going up. The prime rate at the major banks, which tracks...

Home prices rise in Canada’s biggest cities

Financial Post · Wednesday, Jun. 30, 2010 OTTAWA — Home prices in some of Canada’s biggest cities rose 0.8% in April, according the latest Teranet-National Bank house-price index released Wednesday. That followed a 0.3% rise for March, and marked the 12th...

The New Face of Debt

For retirees, the golden years have become a series of tough compromises. The trouble is, a lack of employment income combined with debt stalk the good times they thought they would have after they left their careers. One case study stated their jobs paid them a total...

Housing Starts to Rise

House prices will increase this year and next despite the challenges posed by higher mortgage rates, Canada Mortgage and Housing Corp. said Wednesday. An “improved balance between demand and supply” will stabilize prices through the rest of this year, it said in its...

Why Choose the Variable Rate Mortgage?

With the Canadian economy doing surprisingly well over the past six months, many see higher interest rates from the Bank of Canada in the not so distant future, but according to a report released Thursday from CIBC’s chide economist Avery Shenfeld rates are likely to...