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. TwoRead more

Canada Guaranty changes rental income formula

There are various ways how rental income can be included in debt service calculation. The major Canadian mortgage insurers generally adapt to two methods. Rental offset Rental income Rental offset: Rental offset calculation method takes care of the rental expense minus rental income before it gets added

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CPP is not enough to fund your post retirement mortgage

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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Should you retire with a mortgage?

Canadian retirees plan for supplementing their retirement income

If you are at your 40’s and bagging a house with a 25 years amortizing mortgage then chances are that you know that your retirement will come at the same time you retire the mortgage. Not everyone is able to achieve that goal due to many reasons.

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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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The Future of Credit – your generator of borrowed money

Loan applications start with some major ingredients – access existing credit is one of those. Existing trades (Like credit cards or LOCs) writs your history of credit handling. We live in the days of borrowed money. Even the frugalest of all has debt. No matter how they

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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?

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?

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

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

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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