Many first-time homebuyers hope to purchase a single detached home but end up in a townhouse or condominium, according to a recent RBC survey, which polled 1,050 Canadians.   The difference between dream and reality likely comes down to proper financial considerations, suggests Marcia Moffat, RBC’s VP of home equity financing.   “Affordability isn’t just […]

The fixed-income market, considered among the best of forward-looking indicators, suggests the economic recovery is picking up steam in Canada and the central bank may deliver another rate hike as early as March of next year. Yields across the curve have reached levels last seen in June and July when the Bank of Canada commenced […]

North American consumers are showing signs of emerging from hibernation in time for Christmas, pushing up inflation in Canada to a new two-year high and improving growth prospects for both economies. Canada’s inflation rate rose a surprising half-point to 2.5 per cent in October, a sign the economy is not facing the imminent risk of […]

My husband and I are pretty competitive, always trying to one-up each other. It was to my chagrin, therefore, when I learned that although my credit score is excellent, his is better. I have never missed a bill payment, never carried a balance, so what could be holding me back? According to author and former […]

 Consumer confidence in Canada is on the upswing, but it may not be enough to benefit retailers for this Christmas shopping season. The Conference Board of Canada’s latest survey of households shows overall confidence rose 3.9 points to 83.6, the second monthly uptick and sufficient to wipe out declines during the summer. But on the […]

You have to be a real clown not to have a financial plan and be saving for your retirement. Right? Not really, you would just be among the approximately 80% of Canadians who don’t have any sort of comprehensive financial plan, according to the Financial Planning Standards Council. Who are these people? They are people […]

VANCOUVER — Nobody likes homework, but when the assignment is getting the best possible mortgage in Canada’s most expensive market, completing it pays off in so many ways.   A good objective initial stop, especially for first-time homebuyers, is moneytools.ca. The site is a creation of the Financial Consumer Agency of Canada (a government organization) […]

Looking for your first home? Then do your homework before hitting the open houses. “A first-time homebuyer can save a lot of time by knowing in advance how much they would qualify for and what they can afford,” says Marcia Moffat, RBC’s VP, Home Equity Financing, Canadian Banking. RBC recently surveyed 1,050 Canadians, half who […]

·  OTTAWA — The country’s top financial policymakers warned Canadians on Sunday to brace for tough decisions and “very big challenges” ahead as Canada tries to secure its recovery in an ever-changing global economic landscape. Finance Minister Jim Flaherty — set to deliver a key speech on federal economic policy in Oakville, Ont., on Monday […]

OTTAWA — Canadians could be enjoying historically low interest rates on loans for cars and homes for quite a long time, economists believe. Since June, the Bank of Canada has been attempting to “normalize” interest rates, hiking its policy rate by one point. But recent developments in the global economy — and to a lesser […]