If you are buying your first home, chances are you are stretching your savings to the max. Depending on your situation, you may have some other initial expenses to consider: Moving expenses Whether you’ll be hiring a moving company or renting a truck and asking friends for help, there are likely to be moving [...]
Five Fellows in the Action Canada leadership development program will release a policy report on innovative finance for urban spaces and places. Action Canada's 2014-2015 theme focuses on Canadian cities. Urban public spaces - such as streetscapes, parks, bike paths and green spaces - enhance a city's quality of life and competitiveness by attracting the [...]
The Bank of Canada recently announced a cut to the overnight rate recently from 1% down to .75%. This can be seen as a proactive approach to protect the Canadian economy from the potential risks due to lower oil prices. Here’s what this cut to the overnight rate might mean to you. The 5 year [...]
Capital investment in the multi-family real estate sector totaled $10.1 billion in 2013, according to a report released by the Real Property Association of Canada (REALpac) titled "The Contribution of the Multi-Family Real Estate Sector to the Canadian Economy". Some $2.9 billion was spent on new buildings, with the rest ($7.2 billion) invested in capital [...]
A poll conducted by Nielsen finds that two-thirds (65 per cent) of Canadians are entering the new year feeling confident they will reach their financial goals, a decline from the same poll last year (76 per cent), and the lowest number in five years. Canadians aged 45 and up accounted for most of the decline, [...]
A new survey released by the Independent Contractors and Businesses Association of B.C. (ICBA) reveals that B.C.'s open shop construction companies expect 2015 to be even busier than 2014. "This is welcome news because the construction industry is a strong indicator for the rest of the economy," said Philip Hochstein, president, ICBA. "If our guys [...]
Manulife Asset Management has issued its annual "Year Ahead" report, which highlights monetary policy divergence, the need for structural reform in many economies, declining oil prices and a strengthening U.S. dollar as key topics of interest to investors in 2015. Drawing together the individual views from Manulife Asset Management's investment and economic teams on the [...]
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was unchanged on a month-over-month basis in November 2014. Highlights: • National home sales were unchanged from October to November. • Actual (not seasonally adjusted) activity stood 2.7% above November 2013 levels. • The number of newly listed homes [...]
The total value of building permits was $7.5 billion in October, edging up 0.7% from September. The increase came mainly from higher construction intentions in British Columbia, Alberta and Saskatchewan. The value of non-residential building permits increased 2.4% from the previous month to $3.1 billion in October. Gains were posted in five provinces, led by British Columbia, followed by [...]
(NC) New parents have hundreds of questions and well-meaning family and friends have plenty of advice when it comes to putting money aside for education of children. But how do you know what is really right for you and your family? As one example, let's examine the Registered Education Savings Plan (RESP). Why save with [...]
An early blast of winter will make for a messy and slow commute across Canada this week. That's why CAA is reminding members to be prepared for higher than normal call volumes and longer than normal wait times. Remember that winter driving takes a change in mindset and technique. Winter driving tips: Check your local [...]
First-time homebuyers on average make a 21 per cent down payment on the purchase of their new home; since the 1990s, about 40 per cent of this has come from personal savings, suggesting Canadians wait to be financially stable before purchasing. But recently, as home prices have risen, 17 per cent of the down-payment has [...]
Bone-chilling temperatures gripped southern Ontario during this past winter – one of the longest and coldest in 20 years. Parts of the province plunged into a deep freeze and 'polar vortex' made its way in to everyday conversations. Before the deep freeze returns this year, remember to have your car battery tested by a professional [...]
Ontario home buyers and sellers could use better tools and resources to help pick the right real estate agent. A recent survey release today from Zoocasa and Survey Sampling International (SSI) revealed most (86%) Ontario home buyers and sellers used a real estate agent on their last transaction, but only half (50%) reported being confident [...]
(NC) During the holiday season, our homes often become a revolving door for friends and family but the constant entertaining can make it difficult to keep your home smelling fresh. As people spend approximately 90 per cent of time indoors where the air can be 2-5 times more polluted than outdoor air it is important [...]
In a Manulife survey in 2011, almost 2 out of 3 respondents failed to compare mortgage products and rates from various lenders when their mortgage came up for renewal. Not knowing what your options are could costs you thousands if not tens of thousands of dollars in extra interest and fees. Here are some things [...]
Canadian consumer spending increased by a small margin following two consecutive quarters of stagnant growth, according to the Quarterly Spending Report released by Moneris Solutions Corporation ("Moneris"), Canada's largest credit and debit card processor. Moneris' Quarterly Spending Report revealed that consumer spending rose 0.40 per cent relative to the same period last year. Spending climbed [...]
With the number of grey divorces on the rise in Canada, many Boomers may not realize the cost of maintaining two homes can increase expenses by as much as $20-$30,000 per year. This can have a serious impact on finances during retirement. In fact, according to Statistics Canada 2011 census data, divorce among Baby Boomers [...]
Here are some great ideas to ensure that no morsel goes to waste! Tastes like thanksgiving casserole - This hearty, rich-tasting main dish is sure to be a hit with your family. It's a delicious way to use up Thanksgiving turkey, and you can substitute 5-1/2 cups leftover mashed potatoes for the 6 potatoes. —Mary [...]
Alberta is now vying with Ontario for the best and, indeed, the largest number of real estate investment opportunities this country has to offer, according to the annual Top 100 Neighbourhoods report from Canadian Real Estate Wealth Magazine. "The sea-change in Canadian real estate is coming, if it's not, in fact, already here," says Canadian Real Estate Wealth [...]
In these heady days of innovation, we don't necessarily need to hire someone to do the dirty work of a home renovation. Some of the household upgrades may be easier than you think. Start by familiarizing yourself about the job at hand. There are many reliable self-help books and websites dedicated to giving you the [...]
Many of us agree that it takes decades, if not a lifetime of trial-and-error to master sound money management – so let's make it easier for our kids. November is Financial Literacy Month across the country and that presents an ideal opportunity for families to explore 'teachable moments.' “Attaining financial literacy is often one small step [...]
You're out of bread, can't find a water bottle and the school bus will arrive in four minutes. Is this a familiar scenario in your house? If making your child's lunch seems stressful, here are five tips to ensure their lunchbox is filled with healthy, quick options. Think about balance: Use a lunch container with divided [...]
The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2014 and 2015. The deferral of sales and listings during an extraordinarily bleak winter delayed the start to the spring home buying season earlier this year. [...]
Minister of Finance Joe Oliver announced more action by the Harper Government to create jobs, growth and long-term prosperity: the introduction of the new Small Business Job Credit which is expected to save small businesses more than $550 million over the next two years. The Small Business Job Credit will effectively lower small businesses’ Employment [...]
Unexpected growth in consumer spending and residential construction have seen the Canadian economy outperform in 2014, but continued low interest rates and a cheaper loonie are necessary to sustain growth going forward, finds a new report from CIBC World Markets. The report notes that while Canada's economy will see better than three per cent growth [...]
While, on average, Canadian house prices have climbed five per cent in 2014, a new report finds that price increases in mid- and high-priced homes are far outpacing those of lower-priced ones, which is making it increasingly more difficult for many Canadians to move up out of their starter homes. "The value of bigger and [...]
Canadian employees can expect to see average base salary increases of 2.6% in 2015, according to a national survey of over 400 Canadian public and private sector employers conducted by Hay Group in June and July. Participants include many of Canada's leading employers. The 2.6% projected increase is the same as that in 2014, and [...]
Finance Minister Joe Oliver released The Fiscal Monitor for June 2014 last week. There was a budgetary surplus of $1.6 billion in June 2014, compared to a surplus of $0.2 billion in June 2013. Revenues increased by $0.9 billion, or 3.8 per cent, due mainly to higher revenues from non-resident income tax, excise taxes and duties, and Employment [...]
The C.D. Howe Institute's Monetary Policy Council (MPC) recommends that the Bank of Canada keep its target for the overnight rate, the very short-term interest rate it targets for monetary policy purposes, at 1.00 percent at its next announcement on September 3, 2014. Looking ahead, the Council called for the Bank to hold the target [...]
Leaving home for the first time, going away to school and renting an off-campus apartment can make for an exciting yet stressful time for students and parents alike. As college and university students head to the classroom this fall, CAA Insurance Company (Ontario) is encouraging parents of post-secondary students to invest in tenant insurance. Whether your child [...]
Insurance Bureau of Canada (IBC) reports that the estimated insured damage caused by heavy rains and high winds across southern Saskatchewan and Manitoba in late June and July was just over $60 million, according to Property Claim Services (PCS). "The flooding, wind damage and transportation disruptions caused by these storms disrupted people's lives and businesses," [...]
Highlights: National home sales rose 0.8% from June to July. Actual (not seasonally adjusted) activity was 7.2% higher than July 2013 levels. The number of newly listed homes edged up 0.4% from June to July. The Canadian housing market remains in balanced territory. The MLS® Home Price Index (HPI) rose 5.3% year-over-year in July. The [...]
Population, economic and employment growth all point to a stabilizing of the Canadian condominium market, according to the latest Conference Board of Canada condo report commissioned by Genworth Canada. The Summer 2014 Metropolitan Condo Outlook forecasts that while pockets of higher risk still exist in Toronto and Vancouver, a broad-based downturn is unlikely. “The report findings align [...]
Canada Mortgage and Housing Corporation (CMHC) released the results of its 2013 Condominium Owners Survey today showing that 82.9% of the condominium owning households surveyed reside in their unit and 17.1% are condominium investors. “As information on condominium investment is rather limited at this time, CMHC has gathered new data on a segment of domestic [...]
According to the latest statistics from StatsCan, contractors took out building permits worth $8.0 billion in June, up 13.5% from May. The June increase was mainly due to higher construction intentions for institutional and industrial buildings in Quebec and commercial buildings in Alberta. OLYMPUS DIGITAL CAMERA In the residential sector, the value of [...]
VERICO Canada and VERICO Capital Mortgages Inc. are pleased to announce the June winners of the VERICO Purchase Plus Improvements Contest. Brad Nemes of VERICO Capital Mortgages along with Martin Marshall, Eastern Regional Sales Manager of VERICO Canada, presented a cheque to winners Marc Pepin and Rebecca Thompson of Toronto, ON. "When Brad called we [...]
According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity edged up almost one per cent on a month-over-month basis in June 2014. Highlights: - National home sales rose 0.8% from May to June. - Actual (not seasonally adjusted) activity stood 11.2% above June 2013 levels. - The number of [...]
Owning a rental property can be a profitable investment - but it's not for everyone. It’s important to do the research needed to have a clear understanding of the steps in financing an income property and all the responsibilities that will come with an investment. I’ve provided some information below to help you get started. [...]
Consensus is looking for Canadian housing starts numbers for the month of June to come in near 190k, down from the strong 198.3k in May but still stronger than levels seen earlier this year when a mix of harsh weather and uncertainty weighed on overall levels of construction, driving housing starts to an annualized low [...]
The spring market unofficially ended last month and Canada’s three most followed housing markets finished off the spring selling season strongly. Sales volumes, prices and new listings each increased in June in all three cities. Low interest rates continue to fuel strong buyer demand. Vancouver Sales volumes were up in Vancouver by 29% in June, [...]
Most Canadians expect home prices to keep on surging in 2014, according to a survey conducted by Point2 Homes, one of Canada's largest real estate portals. Canadian respondents who anticipate an increase in residential property prices think prices will rise by an average of 8%. 73% of survey participants in Alberta are confident local prices will [...]
A recent survey of high net worth Canadians, those with investable assets of $500,000 or more, reveals that for this group, having a mortgage may be a considered and deliberate investment strategy. Sixty-seven per cent of those who have a mortgage indicated they have the cash available to pay for their home in-full. "The notion [...]
It's the central hub of the home where we do homework, pay bills, charge electronics, surf the web and cook up a meal or two. We spend hours in the kitchen so it's not surprising that a recent survey from the Research Institute for Cooking and Kitchen Intelligence (RICKI) found that four out of five [...]
The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2014 and 2015. Extraordinarily bleak winter weather made for a slow start to 2014 national sales activity. As the first quarter ended, sales momentum heading into [...]
They say: “don't marry the person you can live with, marry the person you can't live without.” But while you may be ready to share your life with someone, you may quickly realize you aren't willing to share everything, and some of your partner's habits you could definitely live without. So how can you achieve togetherness with [...]
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted a sizeable month-over-month increase in May 2014. The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 5.9 per cent from April to May 2014. This marks the largest month-over-month [...]
No matter if you're an aspiring chef or TV dinner connoisseur, if the look of your kitchen makes you want to dine out it may be time for an upgrade. The kitchen should be the heart of your home where you entertain, hold family meetings and even pay bills. So why not take it from [...]
Making a will is a sensible and worthwhile task that everybody, whatever their age or financial status, should do. However there are some special reasons why women should make a will of their own: • Women usually live longer than their husbands, so it's a good idea for each of you to have your own will. [...]
Low interest rates stimulate home purchase, mortgage debt reduction, optimism Canadians are reducing their mortgages by negotiating lower interest rates, making lump sum pre-payments and repaying their mortgages at, on average, two-thirds of their contracted amortization periods. This has created an attractive landscape for new homeowners, as historically low interest rates have attracted increasing numbers [...]