As we expected the Bank of Canada has held it’s overnight lending rate steady at 5% (this is the rate that the B of C utilizes to lend money to other banks).  What this means is that the Bank of Canada Prime stays at 7.2%, which is what affects us consumers.  It has been the […]

The Table Is Set For Rate Cuts In 2024   The Canadian economy weakened far more than expected in the third quarter, down 1.1% annually. However, the Q2 figures were revised up significantly from a 0.2% decline to a rise of 1.4%. Such are the vagaries of economic data. The Canadian economy is contracting despite […]

Published by Sherry Cooper October 17, 2023 Canadian Inflation Dips to 3.8% Keeping BoC On The Sidelines. good news on the inflation front suggests policy rates have peaked Today’s inflation report for September was considerably better than expected, ending the three-month rise in inflation. Not only did the headline inflation rate fall, but so did the […]

So, you need a tenant. If you have a basement suite or rental property and you are currently looking for a tenant, there are some things to know! Whether this is your first tenant or you have other rental properties, it is a good idea to familiarize yourself with the specifics to ensure a harmonious […]

Mortgage Portability. When it comes to getting a mortgage, one of the more overlooked elements is the option to be able to port the loan down the line. Porting your mortgage is an option within your mortgage agreement, which enables you to move to another property without having to lose your existing interest rate, mortgage […]

The True Cost of Downsizing. Many Canadians consider downsizing during their retirement years. Once their children have left the nest, the choice seems obvious: relocate to a smaller residence or a more affordable town and capitalize on the price difference. For many retirees, the funds from the sale of their home can significantly impact their […]

Strata Insurance: The Importance of Deductible Coverage. Strata insurance has been steadily rising across Canada, but many homeowners are unaware of changes to their policies. In some areas, deductibles are doubling (or even tripling!), which can result in extremely high costs if you are not updating your individual policy. To ensure that you remain up-to-date […]

How to Talk to Your Kids about Finances. Financial independence is a critical skill for future success that your children will not learn anywhere else. Not only does financial literacy help your children have more success in life, but it allows them to move out sooner and it avoids delaying your retirement with additional expenses […]

Market Beware: Subject Free Offers. When it comes to purchasing a home, most offers include conditions or subjects, which are requirements or criteria to be met before the sale can be finalized and the property is transferred. Some of the most common subjects include: Financing approval Home inspection Fire/home insurance protection Strata document review if […]

It’s Time to Crush Your Credit Card Blues. Although credit cards interest rates have not been affected by the recent surge in the prime lending rate, the fact remains that credit card debt is usually the most expensive debt you can have. The average is around 20% and even the so-called ‘low interest’ cards carry […]