Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
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Try not to retire with the mortgage

Percentage of Canadians who currently have debt, by age group: 2014
If you’re planning to buy a home then make sure that your mortgage does not come in between you and your retirement goal. In British Columbia more than half the population expected to retire after they reach 56. That is very close to the retirement age. Two [...]Read more

CPP is not enough to fund your post retirement mortgage

CPP-facts

Majority of Canadians are getting more and more into debt. In this process they are missing some key points of retirement planning. The most important of those all is savings. Be it in the form of RRSP of TFSA or plain old savings account – we are […]

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How comfortable are Canadians with their debt

State of mind - About Debt in 2013

A recent RBC poll reported that Majority of Canadians have reported a reduction in their debt. 62% of Canadians were able to lower their debt this year compared to last year. The same poll also said that the average debt went up this year compared to 2012. […]

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Watch the fixed rate – US Debt Ceiling deal is done (for now)

Canadian bond yield for five years goverment bonds. October 2013

The politicians in United States have reached a deal to end the latest political fiasco on the debt ceiling. (Somewhat like spouses quarrelling over whether to increase the limit on the credit card) As a result the fear of US default is pushed back till February 7th. […]

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Effective date for new debt service ratio calculation postponed till end of 2014

Few months ago CMHC proposed new changes to the way how debt service ratios are calculated. The main three sticking points were to include – 1)      Unsecured lines of credit and credit cards 2)      Secured lines of credit and 3)      Heating costs. CMHC reported – (at that […]

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Ever thought of saving 2 million for retirement?

payroll-survey-canadian debt

It is time to think seriously about your retirement. If you are not saving enough or not feeling the urge to save for your retirement then you should know that may be at-least three among ten of your friends or neighbors are aiming for $2 million – […]

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Discussion on debt – went higher. So what?

canada-debt-per-person

A recent TransUnion study showed that the average Canadian  consumer’s debt (excluding mortgage) went up by 3.5% to $27,000, per person, year over year. This has caused some debates to spur. What do you think? Is it normal or out of the ordinary? Logically – gas prices […]

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Consumer proposals are trending higher – Bank

Arrears-in-mortgage-payment-May-2013-CBA

Whats wrong with the picture below? The answer is – it does not show the actual trend. While mortgages in arrear are going down in numbers, but consumer proposals are raising. The largest segment affected by proposals are the Line of Credits. In a recent report CIBC […]

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Canadians are saving at an accelerated pace – Survey

reasons for using rainy day funds

According to a survey conducted by BMO shows that 23% of Canadians are living paycheque to paycheque in 2013. These 2013 number are somewhat comparable to the 2012 but shows a huge improvement over 2011 survey.

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For many Canadians Debt Freedom will never come – CIBC

Among all Debtors - 14pct Canadians said they would never be debt free

 As the borrowers grow old – they slowly come to this realization that the debt is here to stay, says a poll conducted by CIBC.

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Canadians Are Paying Their Debt Down But It Keeps Adding Up – Survey

Canadian-debt-map

More than four in five Canadian have debt, says a survey published by BMO – Bank of Montreal. In 2012 only seven in ten had debt but it went up by 15% in 2013. Mortgage is one of the main sources of debt for Canadians. More than […]

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Debt Service Ratio – Recent changes by CMHC

changes in debt service ratio

Debt Service Ratio is one of the most important factors considered during a mortgage approval process. This ratio decides if a lender or a mortgage default insurer considers you worthy of the loan. As th name suggests this ratio is all about your income and your loan […]

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