Feeling anxious about rising inflation? Interest rates? Here’s what to do – National

Feeling anxious about rising inflation?  Interest rates?  Here’s what to do – National

As Canadians navigate their way through higher interest rates and rising inflation, many are feeling more anxious and fearful when it comes to planning their finances, according to some financial planning experts. But, there are ways to deal with the uncertainty by becoming more financially literate, they say. “One of the most important things to … Read more

Can Jill, 60, afford to retire to Nova Scotia while keeping her suburban Toronto home?

Can Jill, 60, afford to retire to Nova Scotia while keeping her suburban Toronto home?

**FINANCIAL FACELIFT DO NOT IDENTIFY* Tijana Martin/ The Globe and MailTijana Martin/The Globe and Mail With her 60th birthday approaching, Jill wonders if she can “retire responsibly” soon or if she needs to work longer. Jill is single again, with three adult children, a salary of $81,000 a year, and a $1.2-million house in a … Read more

Have Canadian home prices hit a bottom? Here are some clues

Have Canadian home prices hit a bottom?  Here are some clues

Enter “Canadian home prices” into a Google search and you’ll find endless headlines about real estate imploding. That, and 13-year highs in mortgage rates, have driven countless homebuyers to the sidelines. And many are now licking their chops, hoping to buy closer to the bottom. To do that takes market timing. Most experts discourage timing … Read more

What to do if you can’t make your mortgage payments amid historic correction to home prices

What to do if you can’t make your mortgage payments amid historic correction to home prices

Real estate fintech HouseSigma estimates the Greater Toronto Area’s median detached home has plunged almost 25 per cent – ​​in less than five months.Fred Lum Welcome to Mortgage Rundown, a quick take on Canada’s home financing landscape from mortgage strategist Robert McLister. We’re witnessing a historic correction to home prices, Royal Bank of Canada warned … Read more

You now need to make an extra $18,000 to pass the mortgage stress test

You now need to make an extra ,000 to pass the mortgage stress test

A home for sale in Toronto’s Annex neighborhood is photographed on July 18.Fred Lum/The Globe and Mail The housing market appears to have cooled in recent weeks, but that doesn’t mean it’s now more affordable to enter the market. In fact, owing to rising interest rates, the opposite is true. Within the past four months, … Read more

Will your variable-rate mortgage payment go up? This calculator can estimate your ‘trigger rate’

Will your variable-rate mortgage payment go up?  This calculator can estimate your ‘trigger rate’

A pedestrian walks past condo buildings in the Liberty Village neighborhood in Toronto on July 13.CARLOS OSORIO/Reuters Homeowners with variable-rate mortgages could face a hike in their expected monthly payments after the Bank of Canada’s outsized interest rate hike last week. The recent increase of one percentage point in the central bank’s trendsetting rate has … Read more

Interest rate hikes, housing cooldown and recession fears: The business and investing stories you need to know about this week

Will your variable-rate mortgage payment go up?  This calculator can estimate your ‘trigger rate’

A pedestrian walks past condo buildings in the Liberty Village neighborhood in Toronto, Ontario, Canada July 13, 2022.CARLOS OSORIO/Reuters Getting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more. Bank … Read more

Typical mortgage payment to climb more than 50%: BMO economist

Typical mortgage payment to climb more than 50%: BMO economist

Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow Scotiabank energy analyst Jason Bouvier previewed earnings for the sector and reiterated his top picks. “We continue to expect the valuation gap between Canadian and US E&Ps to narrow over the next couple of years as Canadian egress [transport to … Read more

Canadian home prices spiral down in June

Canadian home prices spiral down in June

A single family home for sale in Vancouver on July 6.JENNIFER GAUTHIER/The Globe and Mail Canada’s housing market slowed for the third straight month in June, with home prices cratering – the largest monthly decline on record – as borrowing costs soar and buyers struggle to qualify for a mortgage. The national home price index, … Read more

Subprime lender Fisgard suspends residential construction loans in several provinces

Subprime lender Fisgard suspends residential construction loans in several provinces

Framers work on a new house under construction in Airdrie, Alta., on Jan. 28.Jeff McIntosh/The Canadian Press Fisgard Asset Management Corp. has suspended residential construction loans in Ontario, British Columbia, Alberta and Manitoba, becoming the latest subprime mortgage lender to hit pause this year. The Victoria-based Fisgard, as well as other alternative lenders and the … Read more