Renting Vs. Buying: What You Need to Know! When it comes to the Canadian housing market, there are lots of options for where to live! From renting an apartment to owning a single-family home, it all comes down to where you see yourself living and what you can afford! The beauty is, there is no […]

The Top 7 Misconceptions About Reverse Mortgages. How much do you really know about reverse mortgages? Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free. Maybe you know that tens of thousands of Canadians are using a reverse mortgage as part of their financial plan. But did […]

Architecture and Design Content You Need to Watch (and Listen To and Read)! Feel like you’ve watched every piece of content available on Netflix, Disney+, Crave, Hulu, or whatever streaming services you use? I feel the same way.  I’m currently rewatching Friends for the millionth time and reciting lines that I didn’t even know I […]

Credit-Free Christmas in 5 Steps! The holidays are a beautiful time of year, filled with sparkling lights and delicious meals and overplayed tunes. As much as these celebrations bring us joy and harmony, they can also bring us stress. This is particularly true when it comes to your finances! This year, aim for a credit-free […]

In comments delivered to the Standing Committee on Finance on Tuesday, Canadian Mortgage and Housing Corporation CEO Evan Siddall laid out a potentially bleak scenario for the country’s homeowners. Siddall told parliamentarians that by September if Canada’s economic recovery fails to generate enough momentum, 20 percent of mortgages could be in arrears. “A team is at work […]

The Top 7 Misconceptions About Reverse Mortgages How much do you really know about reverse mortgages? Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free.  Maybe you know that tens of thousands of Canadians are using a reverse mortgage as part of their financial plan.  But did […]

In a more dovish statement, the Bank of Canada maintained its target for the overnight rate at 1.75% for the tenth consecutive time.  Today’s decision was widely expected as members of the Governing Council have signalled that the Bank still believes that the Canadian economy is resilient, despite the marked slowdown in growth in the […]

Saving for a down payment is one of the biggest challenges facing people wanting to buy their first home. To fulfill the conditions of your mortgage approval, it’s all about what you can prove (hard to believe – but some people have lied in the past – horrors!). Documentation of down payment is required by […]

            Principal and interest are the two components that make up a mortgage payment.  The principal is the portion of your payment that goes towards paying down the outstanding balance of your mortgage.  Interest is the other portion of your payment which goes directly into the pockets of your lender […]