If you’re a first-time buyer (or know somebody who is), you may be interested in knowing more about Canada’s brand new Tax-Free First Home Savings Account, of FHSA for short. The FHSA will let you save up to $8,000 tax-free annually—up to a $40,000...
Now that the holidays are behind us, we’re quickly approaching the next period that brings our finances into focus—tax season. A common question I receive from homeowners is, should I put money in my RRSP (Registered Retirement Savings Plan) or use it to pay down...
Once you have your mortgage secured and your payments set up, it may be tempting to ignore it until you get your renewal letter from your lender. But I’m going to outline some reasons why there is no better time than the present to undergo a mortgage check-up to...
Many homeowners dread mortgage renewal time, especially when interest rates are rising as they are today.It means you’ll likely be resetting your mortgage at a higher rate, with higher monthly payments. But as always, you have options. Should you renew early to...
The Bank of Canada has just raised its key lending rate by 25 basis points, citing…This marks the first change to the Bank’s overnight target rate in two years and the first-rate hike since October 2018. In its statement accompanying the decision, the Bank said: “As...
Buyer Beware… have you heard that before? We’ve all heard the phrase “buyer beware” (Caveat emptor) which refers to an English contract law principle that dates back many centuries. The phrase means that buyers generally have less information than the seller...
