Trusterra Mortgage

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#BankofCanada maintains overnight rate Here is a summary of the press release: - Inflation has picked up in recent months, as anticipated in the Bank’s July Monetary Policy Report (MPR), reflecting stronger economic activity and higher gasoline prices. - The global and Canadian economies are progressing as outlined in the July MPR. Economic activity continues to strengthen and broaden across countries. - Canada’s economic growth in the second quarter was stronger than expected, and was more broad-based across regions and sectors. - The Bank estimates that the economy is operating close to its potential. - Based on this outlook and the risks and uncertainties identified in today’s MPR, Governing Council judges that the current stance of monetary policy is appropriate. To read the full press release click this link

Pattie Lovett-Reid: The $10,000 reason to explore the Disability Tax Credit

Pattie Lovett-Reid<p>Chief Financial Commentator, CTV<p>Follow|Archive<p>In a perfect world, you would never have to apply for a disability tax credit.<p>This …

It's final. The OSFI B-20 rules come into affect on January 1, 2018, stated the news release on Tuesday October 17 by the Office of the Superintendent of Financial Institutions Canada confirmed. "The changes to Guideline B-20 reinforce OSFI’s expectation that federally regulated mortgage lenders remain vigilant in their mortgage underwriting practices. The final Guideline focuses on the minimum qualifying rate for uninsured mortgages, expectations around loan-to-value (LTV) frameworks and limits, and restrictions to transactions designed to circumvent those LTV limits." - OSFI

"Canada's housing affordability is at its worst levels in more than a quarter century, but a new report from the Bank of Nova Scotia suggests things are about to get even worse." - Huffington Post Canada. Read the full article at this link courtesy of Bloomberg via Getty Images #Canada #housing #affordability #Scotiabank #homeownership

Why buying and storing #gold at #home is not a great idea. A recent analysis by #economists Robert J. Barro and Sanjay Misra published by the #RoyalEconomicSociety found that from 1836 to 2011, the average real rate of change in the price of gold was just 1.1 per cent per year, and that the price change for gold in periods of economic stress was almost the same as in periods of stability. Source courtesy of Michael Dalder / Reuters (Gold bars are stacked in the Pro Aurum gold house in Munich, Germany, in 2014)

Here are the Cities at Risk of a Housing Bubble

By Claudio Saputelli and Matthias Holzhey<p>Rapid increases in housing prices are becoming increasingly visible in more cities around the world, …

RBC

Housing affordability in Canada hit the worst level in 27 years in the second quarter of this year, according to a Royal Bank of Canada report.<p>RBC …

Canadian Real Estate

RBC says housing affordability measure worst since 1990, Toronto hits poorest level ever

Housing affordability in Canada hit the worst level in 27 years in the second quarter of this year, according to a Royal Bank of Canada report.<p>RBC …

Housing affordability the worst it’s been in 27 years. Here’s a cross-Canada look

Housing affordability worsened for the eighth consecutive quarter in Canada, making levels the poorest they’ve been since 1990 — that’s 27 years.<p><b>READ</b> …

Why the ‘worst may be yet to come’ for Toronto housing

Greg Bonnell<p>Reporter<p>Follow|Archive<p>Toronto’s housing market failed to stage the September comeback the real estate industry was hoping for, and a …

Why telling people to rent rather than buy is bad advice

Almost exactly three years ago, I bought a house in downtown Toronto. It was one of the hardest things I've ever done.<p>I'd been saving the down payment for 20 years, but prices were ridiculously high and bidding wars common. After viewing more than 30 homes, we put a bid on our dream house, only to …

Loonie slides on Bank of Canada’s move to slow rate hikes

The Bank of Canada is embracing a cautious approach to future interest-rate increases after two quick hikes this summer.<p>Governor Stephen Poloz insisted Wednesday that the central bank isn't setting a firm course for its next moves, citing an unusual number of "unknowns" hanging over the outlook for …

With two rate hikes in the bag, BoC still waiting to see rise in inflation

It's been a long time since the inflation rate has been the most important economic indicator in the Bank of Canada's playbook. But as the central bank vacillates over where to take interest rates after two quick hikes in the summer – and there's now little doubt that it has shifted into …

Scotiabank customers confused by 'zombie' credit cards after glitch

A technical glitch at Bank of Nova Scotia is causing an undisclosed number of deactivated credit cards to reappear as "zombie" accounts on customers' online statements.<p>The error arises from the bank's acquisition of a portfolio of about two million active MasterCard credit cards associated with …

- The Globe and Mail

Canadian, World, Politics and Business News & Analysis

Financial aid a ‘critical pillar’ of many schools

There are almost 11,000 kilometres separating Pakistan and Boston. In spite of that distance, however, Isha Afzal is further along her journey to the Massachusetts Institute of Technology than she thought possible.<p>Though she has not yet been accepted by her "dream university," as she calls the …

Canadians get rich at a faster pace than Americans, gaining 11% more millionaires

Canadians love beating the Americans, and last year we beat them at their favourite sport: Getting rich.<p>According to Capgemini SE’s 2017 World Wealth …

Most Canadians willing to exceed their budgets to buy a home: TD survey

A new TD Bank survey has found that 60 per cent of Canadians are willing to exceed their budget in order to buy a home.<p>The survey found that more …

Tough love? Response to Equifax security breach is more like tough luck

The Equifax security breach should have you wondering who has your back when thieves steal your private data.<p>You're best off if you assume the answer to this question is no one. The saddest storyline in the Equifax situation is the lack of respect shown to people worried their data may have been …

Proposed mortgage rules could hurt many borrowers, credit unions say

Many less-wealthy home buyers could be shut out of the housing market and forced to continue renting if proposed mortgage stress-testing rules are adopted by Canada's banking regulator, an association representing Canadian credit unions has warned.<p>The Canadian Credit Union Association (CCUA), which …

Don’t bank on your #house for #retirement fund. The Ontario Securities Commission (#OSC) said “Owning a home is not a substitute for retirement planning,” read the full Financial Post article here courtesy of Postmedia Network

Did you know: The #Condominium Authority of #Ontario will be responsible for administering certain provisions of the #CondoAct?"

How to Pay Off Your Mortgage Before You Retire

Want to have a completely paid-off home in which to enjoy retirement? Read on.<p>Housing is the single biggest monthly expense for many families, so if …

It's alarming (if unusual) when economists compare Canada to Greece

Briefing highlights<p>Why Canadians are in debt trouble<br>• Markets at a glance<br>• BlackBerry hails ‘transformation’<br>• Toshiba signs big sale of chip unit<p>It might be easy to dismiss Mr. Madani's comments as alarmist. But for the fact that his is the second such warning in the space of about a week.<p>Mr. Madani …

The bullies are back in Toronto’s housing market

Toronto's real estate market is showing renewed strength, with bidding contests and bully offers making a resurgence after a torpid summer.<p>David Fleming of Bosley Real Estate Ltd. was caught off guard when he took his clients to see a house in the Beaches area and soon learned that a bully offer …

Each year the #InternationalDayofPeace is observed around the world on 21 September. The General Assembly of the United Nations has declared this as a day devoted to strengthening the ideals of peace, both within and among all nations and peoples. Photo courtesy of UN/Sahem Rababah (Children in Zataari Camp in Jordan)

What you can do to about the #Equifax #cybersecurity breach of 100,000 Canadian accounts. Read the Cybersecurity Incident & Important Consumer Information page of Equifax Canada On that page they provide detailed information about: (1) An overview of what happened (2) How to find out if you're impacted (3) Next steps for those impacted (4) Information about where to call