But just because you’re on a tight budget doesn’t mean you’re stuck with your dated décor and dysfunctional layout. There are options, even for those who can’t tap into a steady flow of extra cash. Let’s explore what’s possible. Why traditional mortgages and...
Changes to the BoC rate impacts the prime rate set by Canadian lenders, which in turn affects the pricing of variable-based borrowing products, which are based on the prime rate plus or minus a percentage. Following this most recent cut, the prime...
For professional advisors like Baker Tilly Toronto, staying current in this business landscape is critical. And for insurance intermediaries, the key to thriving in this environment is to partner with experts like Baker Tilly Toronto that offer specialized expertise and strategic guidance. Steven...
In fact, Canadian savers have an abundance of good choices right now for places to earn rates of interest that will keep their money growing ahead of inflation. So, where should you put your money: in bonds, guaranteed investment certificates (GICs) or...
“The stress test was introduced to add a margin of safety to ensure borrowers could make their payments if they faced a change in circumstances—such as if interest rates go up or their income changes,” says Crawford. In 2018, the stress test was...
In 2018, the stress test was expanded to include buyers with more than a 20% down payment (those with uninsured mortgages). Since then, all Canadian home buyers applying through a federally regulated lender—as well as those refinancing their current mortgage—have been required...
It was a bit of a gamble, spending $100,000 for three packs of cards. But it paid off: two of them combined were worth more than what he paid. “One could argue the Pokemon cards and trading cards are a better place to...
Mortgage rate comparison tool Shopping around for the best rate can save you thousands on your mortgage. To instantly compare rate types and terms, click on...
The impact of your marginal tax rate It’s important to clarify, Ken, that if you have a minimum RRIF withdrawal with no tax withheld, that does not mean that income is tax-free. When you report your RRIF and other income sources on your...
The small business group has, however, noted that not all processors have been clear that they’ll pass on the savings, pointing for example to Stripe where not all customers will see a change. Kelly said Stripe’s decision means the company would keep the...
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