Interest Rates on the Move?

As a result of stubborn inflation and stronger then expected economic growth signs are becoming more clear that Canadians could be seeing interest rate hikes sooner then previously anticipated. Bank of Canada’s Mark Carney did not directly state that higher rates were...

Countdown to Rate Hikes

The Bank of Canada took its first steps Tuesday toward returning the country to more normal interest-rate levels by signalling a more hawkish tone on inflation and acknowledging the economy is performing better than expected on “vigorous” consumer demand....

Bank of Canada Maintains Interest Rates

The Bank of Canada is keeping its benchmark lending rate at a record low of 0.25 per cent, reiterating on Tuesday its conditional commitment to hold rates steady until the middle of this year. Although it held the overnight lending rate steady, the bank acknowledged...

Change in Mortgage Qualifications

On Tuesday, the Department of Finance announced three changes to the standards governing government-backed mortgages, that come into force April 19. Here are a summary of the changes. QUALIFYING FOR A FIVE-YEAR RATE The adjustments to the mortgage framework will...

Car Allowance

Currently we are dealing with Brian; he has great income which includes a car allowance.  Brian is wishing to purchase his first home.  The scenario is as follows, he receives a car allowance of $900 per month, since he feels that the company is paying for his car, he...

Genworth & CMHC’s Homeowner Assistance Programs

Relief for Homeowners During Difficult Times   Genworth Financial Canada has expanded its Homeowner Assistance Program to help Canadians keep their homes when confronted with job loss or other life challenges such as a serious illness or marital separation. The...