I have observed recently that both first time home buyers and seasoned owners alike struggle to understand CMHC insurance.  From a borrower’s perspective the insurance premium paid up front for the benefit of a mortgage lender seems heavy handed and unfair. However, without CMHC you wouldn’t be able to buy or refinance your homes unless [...]

This week Jim Flaherty and his Federal Department of Finance announced some important reforms to the rules governing mortgage qualification. See my reaction in the video below.

Toronto mortgage interest rates have taken a definite U turn from the direction predicted by economists at the beginning of the year. It looks like low interest rates may be here to stay for a while longer. I can currently offer a 5 year fixed at an unprecedented low rate of 3.75% subject to lender [...]

Very few changes this week to mortgage interest rates in Toronto.
1 year fixed – 2.60%
3 year fixed – 3.40%
5 year fixed – 3.99%
3 year variable – Prime-.10% (2.15% effective rate)
5 year variable – Prime-.10% (2.15% effective rate)
RATE SPECIALS
5 year fixed – 3.89%

3 year variable Prime-.25% (2.00% effective rate closing in 30 days, purchases & refinance [...]

Mortgage interest rates in Toronto have stayed fairly steady over the past week despite the increase to bond yields last Friday. Tomorrow the Bank of Canada will decide on whether to increase the prime rate. There is unanimous consent among economists that the prime rate will remain unchanged however it will be interesting to see [...]

Not sure what the difference between a mutual fund and a exchange traded fund (ETF) are? The Investor Education Fund has developed an excellent new website GetSmartAboutMoney.ca which develops and promotes financial literacy which is especially directed for young people.  Even though I grew up surrounded by money concepts, I really feel like there was [...]