In toronto real estate, Canadians’ non-mortgage debt loads picked up pace in the second quarter, putting households in an increasingly risky position, an RBC analysis suggested. Balances on consumer loans including credit cards and lines of credit – grew by 2.6 per cent year-over-year, driven primarily by the continued popularity of lines of credit […]
Toronto Personal Finance Posts
Closing costs should be included in condo prices, lawyer says
There are calls for more protection for condominium buyers after a group of new Scarborough homeowners said they were surprised by tens of thousands of dollars in closing costs. Condo buyers caught off guard by sky-high closing costs Earlier this week, about 40 residents of 1328 Birchmount Road got together to compare the letters […]
Household debt rises to another record in Canada
OTTAWA – Canadian household debt rose to a new record high in the fourth quarter of last year in 2015, fuelled in large part by mortgage growth. Statistics Canada said Friday that total household credit market debt, which includes consumer credit and mortgage and non-mortgage loans, increased 1.2 per cent to $1.923 trillion at […]
5 Tips Will Save You Money on Your Home Insurance
As a new homeowner, it may seem like the expenses never stop. First there’s the down payment and closing fees, then your mortgage statements start rolling in—and don’t forget homeowners insurance! While it may seem like another expense, homeowners insurance is pretty important. It offers financial protection if your home or its contents are […]
When to Pay Off Your Mortgage
Wouldn’t’ it be nice to be living without any debt or financial liabilities? It would surely give someone a whole lot of peace of mind, particularly those who are nearing their retirement. Experts advise that it is generally best to go ahead and pay off your mortgage loans before retirement, but only after weighing […]
