by Allen Ehlert | December 14, 2024 | Mortgages, Personal Finance, Real Estate
In today’s economy, many Canadians face high household debt. The Home Buyers’ Plan (HBP) offers a way out. It lets you use your Registered Retirement Savings Plan (RRSP) for a down payment on your first home. This move can be a big step towards owning a...
by Allen Ehlert | December 14, 2024 | Mortgages, Personal Finance
Did you know that 1 in 4 Canadian mortgage applications gets declined? This is because of poor Debt Service Ratios (DSRs). Knowing how to calculate your DSR is key to getting a mortgage and staying financially secure. Lenders use the Gross Debt Service (GDS) and Total...
by Allen Ehlert | November 16, 2024 | Mortgages, Personal Finance
When shopping for a mortgage, or any loan for that matter, it is important to think like a bank. When it comes to securing a mortgage, most people don’t realize they’re stepping into a sophisticated business game. Banks are experts at maximizing profits, and unless...
by Allen Ehlert | July 31, 2024 | Economy, Personal Finance
Is it possible to address the labour shortages in some sectors of the economy due to the retirement of the Baby Boomers, the largest generation in the history of the workforce, and the upcoming Generation Z, or the Zoomers, who are the smallest generation through...
by Allen Ehlert | July 18, 2024 | Economy, Mortgages, Personal Finance
According to the Bank of Canada’s report, uncertainty and cost pressures remain firms’ most frequently mentioned concerns. The sources of uncertainty were domestic factors: Economic growth Interest Rates Tax Policies Declining business sentiment Consumers cut...
by Allen Ehlert | April 12, 2024 | Mortgages, Personal Finance, Real Estate
Canada’s New 30 Year Mortgages Imagine this scenario: You’ve been saving up for years, patiently putting aside every spare dollar, dreaming of the day when you can finally buy your own home. As you scroll through real estate listings, you can’t help...
by Allen Ehlert | December 9, 2023 | Economy, Mortgages, Personal Finance
Ever wondered how interest rates affect the value of a country’s currency? Buckle up and let’s dive into the intriguing world of currency and interest rates! The Relationship Between Interest Rates and Currency Value Central banks often increase interest...
by Allen Ehlert | December 4, 2023 | Economy, Mortgages, Personal Finance
Many so-called experts claim as Canada’s baby boomers retire, there is a growing need for immigrants to fill the labour market. Actually, no. There are very few well-paying jobs in Canada (and you can’t survive in Canada without a well-paying job or...
by Allen Ehlert | December 4, 2023 | Economy, Mortgages, Personal Finance, Real Estate
Why You Should Avoid Choosing a 3-Year Fixed Mortgage in 2024 Thinking of getting a three-year fixed mortgage in 2024? You might want to reconsider. While some people are tempted to time the market and assume that interest rates will go down, this strategy is risky...
by Allen Ehlert | December 4, 2023 | Mortgages, Personal Finance
Interest rates in Canada have sharply increased, causing stress for Canadian households. With central bank rates at multi-year highs, mortgage holders will face significant payment increases when their mortgages reset in a couple of years. In addition, small...
by Allen Ehlert | December 4, 2023 | Economy, Personal Finance
Recent consideration by the Alberta government to withdraw from the Canada Pension Plan has ignited a heated debate. Numerous Canadians are concerned about this proposal’s potential drawbacks and effect on retirement security. In response, Alberta has launched...
by Allen Ehlert | December 4, 2023 | Economy, Personal Finance
Canadians are struggling to make ends meet amidst the strain of elevated interest rates. Many are concerned about the future due to the Bank of Canada’s decision to maintain rates. In this article, we will discuss the effects of high interest rates on...
