CMHC Mortgage Insurance Rates to Increase March 17th

CMHC has announced that it will be increasing the price for mortgage insurance effective March 17th. This is in response to new government regulations requiring higher capital reserves. Genworth (the private sector equivalent of CMHC) has announced that it will match...

What disability coverage does the government provide?

If you develop or acquire a disability, the government has four possible income sources. On the surface, that seems like you might be eligible for a lot of disability coverage if you qualify. On closer examination, you will see that the government benefits may not...

Real Rate of Return

One of the first concepts that it is important for people to understand when engaging in investment planning is Real Rate of Return. You may have heard people say that if you have your money in GICs or high-interest savings accounts you are actually losing money. On...

Ensuring your estate is in order

The following is a list of steps you can take to ensure that your estate is in order in case something should happen to you: Make sure rsp’s/rif’s and pensions have a beneficiary named (RSP’s/Rif’s can be rolled over to spouse on a tax-free...

Major Changes to Mortgage Rules

Finance minister Bill Morneau announced changes to the rules governing mortgages. Effective October 17th, all insured mortgages will have to qualify against the Bank of Canada rate which is currently at 4.64%. These changes will affect both high ratio and conventional...
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