Best Times to Make an Extra Mortgage Payment

Best Times to Make an Extra Mortgage PaymentPeople need to realize that the behaviour in the real estate market in Canada in the past 10-12 years is not normal, nor sustainable. Housing, historically, has risen fairly close to the increases in real incomes (income adjusted for inflation) during 1950-2000. In the past decade real incomes have moved very little (if at all) while home prices have appreciated to staggering levels increasing the amount of debt individuals and…

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Plunging Gas Prices Lower Inflation

Plunging Gas Prices Lower InflationA combination of Christmas sales and falling gasoline and food prices contributed to one of the biggest one-month drop in consumer prices in years in December, Statistics Canada said Friday. The 0.6 per cent overall decline in prices from November slashed the annual inflation rate by a similar amount to 2.3 per cent. The one-month decline was the steepest since the summer of 2009, when the country was in recession….

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Why are Mortgage Rates Hitting Record Lows?

Why are Mortgage Rates Hitting Record Lows?All across the country, mortgage specialists and brokers are busy fielding calls from people who’ve just heard about this week’s record low mortgage rates. Bank of Montreal made the biggest splash by announcing a five-year fixed-rate mortgage of 2.99 per cent – the lowest advertised rate for such a popular mortgage term by any major Canadian bank, ever. Yes, there are more restrictions than usual attached to this mortgage and…

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Canadian Businesses Sit on Cash Despite More Tax Cuts

Canadian Businesses Sit on Cash Despite More Tax CutsProfitable Canadian businesses are set to reap $2.85 billion in additional income tax savings in 2012, even as Prime Minister Stephen Harper complains about all the private “money sitting on the sidelines.” The last of five annual corporate tax cuts took effect Sunday, reducing the federal rate by another 1.5 points to 15 per cent. The move comes as corporate Canada, from multinationals to midsize businesses, squirrels away hundreds of…

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