The Bank of Canada met this week to determine whether to increase the Bank of Canada Overnight Lending Rate (which dictates the Prime Rate) or maintain it’s current overnight rate at 1.25% currently. This week The Bank of Canada maintained its target for the overnight rate at 1.25%, which the prime rate is currently set
The Office of the Superintendent of Financial Institutions released its finalized B-20 Update to the mortgage industry, last week the news regarding the upcoming mortgage rule changes for conventional buyers, to put the brakes on borrowing and ensure we will be able to handle a rising rate environment. Don’t panic, there is always a solution
Most people’s first question when looking at buying a house is, “how much will we qualify for?”. Qualification, and affordability, are two very different things. Household debt rose to 2.08 Trillion in the 2nd Quarter of 2017 in Canada, with Mortgage debt contributing to 1.36 Trillion and Consumer Credit equating to 609.6 Billion (Statistics Canada).
This week I want you to try these three simple steps. Send me an email, text, or give me a call and tell me your results. I am truly interested and will be following them as well to see the results. The 3 Steps are as Follows : Learn the art of saying “No” or
The Art of Saving = Spend Less than you Earn. The Benefits of Delayed Gratification.
We have all spent moments thinking… Why did I buy that? Should I make dinner or go out? Should I get the new iPhone? The new car? The new jacket? Our biggest internal conflict is “I don’t need it, but I WANT it.” Our wants often outweigh our needs resulting in increased consumer spending &