Tag Archives: Investing

Increase Your Mortgage Payments

Paying off your mortgage is a common goal for homeowners.  The monthly obligation of mortgage payments is usually a family’s biggest financial burden, and the sooner it’s gone the better.  Getting rid of your mortgage is a little like pulling off a Band-Aid.  You can minimize your mortgage payments today and make your cash flow as comfortable as possible or you can put everything you have towards your mortgage to … Read More

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Stephen Poloz Balances the BOC

As expected, the Bank of Canada (BOC) kept the prime lending rate at 3% yesterday.  This decision moves the clock to 3 years and 1 month with no change to the overnight lending rate and in turn the prime lending rate.  Currently set at 1% the overnight rate is well below its 10 year average of 2.07% and significantly below the high of 4.50% hit in July of 2007.  The … Read More

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The Rich are Getting Richer

The rich are getting richer according to the World Wealth Report, a study co-authored by RBC Wealth Management and Capgemini.  The number of Canadians with investable assets of $1 million or more grew by 6.5% to a record of 298,000 Canadians.  Even more shocking is that the really rich, the number of Canadians with investable assets of $30 million or more, grew by 11% to a record 4,500 Canadians. Now … Read More

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S&P Ratings Questionable

S&P has made questionable ratings over the past few years, putting into doubt their value and purpose.  A recent downgrade of Canada’s big banks is the most recent example of how out of touch they can be with their ratings system.  It’s 2011 downgrade of the US government was farcical at best and interpreted by many as more of a political statement than a risk rating. It seems that the … Read More

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Get Smart about Money

If you feel a little lost when it comes to managing your finances, you may want to check out GetSmarterAboutMoney.ca. This website is packed full of information that can help you with both investing your money and planning your finances. It tackles everything from managing debt to planning for retirement to choosing the best investment vehicle for your personality. Check out the quiz section. Whether you’re getting married, having a … Read More

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Releasing the Equity in Your Home

If you’re one of the many homeowners who has a mortgage free or low mortgage home, then you can unlock a small fortune.  Although many homeowners look forward to the day when they can burn their mortgage, the fact is we will all will  release the equity in our homes as some point.  Whether it’s an inheritance to your loved ones, supplementing your income, providing  for some adventure or bailing … Read More

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What is a Mortgage Investment Corporation (MIC)

Simply put, a Mortgage Investment Corporation (MIC) is a federally recognized corporation that invests its capital in Canadian Real Estate.  The purpose behind the creation of a Mortgage Investment Corporation is to allow all Canadians to benefit from investments in real estate and mortgages on real estate with relatively small amounts of capital.  Some MIC’s will accept investments of $1,000 or less while others are traded on the TSE and … Read More

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