Tag: savings

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Over Half of Canadian Retirees Are in Debt, but That Doesn’t Have to Include You

By: Elias Kellendonk

A recent poll done by CIBC and Harris/Decima has found that 59% of Canadian retirees are still in debt. Worse yet, the poll finds that 55% of people that carry debt into retirement have seen their debt levels either increase or remain unchanged over the past year. As you can imagine, it only becomes more …

Low mortgage rates

Mortgage rates present opportunity

By: The Super Broker

Historically low mortgage rates are continuing to make homeownership affordable for Canadians, according to the Royal Bank of Canada. Data from the RBC's Housing Trends and Affordability report shows that low mortgage rates are keeping Canadian homeowners from entering dangerously unaffordable territory. Additionally, the report stated that rate increases are likely not on the horizon. …

Affordable housing

Programs for affordable housing

By: The Super Broker

There are a number of programs geared toward helping Canadian home buyers find an affordable deal.

Saving for a small house will cost less in long-run

By: The Super Broker

Despite the attractive housing climate that has convinced Canadians of all ages that now may be the ideal time to buy, some people would rather save up enough cash to purchase their dream home.

small home

Downsize your home to save money

By: The Super Broker

While the initial prospect of moving into a smaller home may leave a bad taste in your mouth, the savings that can be incurred make it an attractive solution for homeowners looking to build up their nest egg.

Paying off your mortgage before retirement

By: The Super Broker

Older Canadians are approaching retirement with more debt than ever before, and are accumulating it at a much faster pace.

bank of canada

Bank of Canada warns against counting on home values

By: The Super Broker

The BMO Retirement Institute reports that 47 percent of Western Canadians are looking to their home’s equity for extra funds after they stop working, compared with 41 percent nationally.

cut years off your mortgage

Pay now, save later

By: The Super Broker

According to the Canadian Association of Accredited Mortgage Professionals (CAAMP), nearly 60 percent of Canadians only pay the monthly minimum on their mortgages.

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