Some of you, like me, may be pleased to note that the 5-year Canada Government Bond closed at 2.495% earlier this afternoon, an increase of 3.02%.  In fact bond yields have been rising since mid-October, when the second round of quantitative easing (QE2 – No Virginia, that is not a ship) was implemented by the US Fed. [...]

Buying or selling a house is a big deal.  Most people thus seek expert advice and assistance.  That advice comes mainly from real estate agents, who are represented by the Canadian Real Estate Association (CREA).  Until now, however, the system has been designed to serve agents, and the brokers who employ them, at the expense [...]

Today, the Scotia Bank released its latest Economic Special Report.  See below.  It’s worth a read.  However, I think the report is unduly optimistic.  Read between the lines in the section on Households.  I am not that reassured.  I think Canadian households will have to continue to trim back in order to handle interest rates [...]

The Canadian economic recovery didn’t play out as advertised. While we did see a spike late last year and early 2010, the momentum has faded lately, largely as a result of a strong C$ and a softening US economy. On the interest rate front, the Bank of Canada will, at some point, resume normalizing interest rates next year, but at a very slow pace, given the slow growth, soft inflation picture.

Merix Financial now offers Genworth-insured financing for non-owner-occupied rental properties. The details: Maximum loan-to-value: 80% Credit score: 640 minimum Maximum TDS: 40% (excluding heat) Rental Income: 80% rental offset on all rents Pre-approvals: Yes!

I had an exceptional experience yesterday.  I shared lunch with a centenarian.  Actually a group of us celebrated his 100th birthday with him here in Victoria, BC.  I can’t tell you who he is because of privacy concerns, but I can tell you he looked wonderful.  He stood ramrod straight and was able to tell [...]

The Bank of Canada may raise its rate by another 0.25% again tomorrow.  Apparently, it is only a 50/50 chance because the economy is now stuck in neutral, although the possibility of a double dip is not out of the question, but unlikely.  Below is the most current charts for a comparison of fixed and [...]

New Regulations for HELOCs and Mortgages The Department of Finance (DoF) put new credit card regulations in force yesterday. A few of the rules also apply to HELOCs and mortgages.  The DoF says the new regulations are designed to “ensure that consumers have access to credit on terms that are fair and transparent.”  The following regulations [...]

Here I go again, talking about credit rating.  Why?  Because it is critical for you to get the financing you need in the first place and the best deal available in the second.  For those of you who have credit challenges, you may want to pay some attention to this blog. No matter what your [...]

My mom opened a savings account for me when I turned 13.  Every week she would make sure I put money in it.  I wonder why more moms are not doing that these days?  Saving is a habit.  Just like spending. A report from BMO Retirement Institute to be released today says that although 90% [...]